Economic Reports 12/17/07
Summary: Builder Housing Index steady for 3rd month at all time low. NY Empire State manufacturing index "suggests deceleration" by plunging 17 points.
Despite a record low on the dollar... Current account balance shows foreign acquisition of US assets declined 33% in Q3.
Outside of US Treasuries, foreigners sold off US assets across the board. TIC inflow data confirming...
and showing that private foreign investors, single handed, have been keeping US Treasuries afloat and rates down.
However, YTD monthly net TIC inflows have been cut by half and private inflows have been cut by two thirds. Can you say black hole budget crisis?
NAHB/Wells Fargo Housing Index 19 vs prior 19 Full Report
Inside the number: An unsentimental journey... Home builder sentiment held at a record low for a third consecutive month in December...
weighed down by problems in the mortgage market and a huge and evergrowing supply of unsold houses.
NY Empire State Manufacturing 10.3 vs prior 27.3 Full Report
Inside the number: New orders 14 vs 24; Shipments 21 vs 32; Backlog -10 vs -1; Inventories -10 vs -1; Prices Paid 35 vs 42.
Current Account Balance Q3 -$178.5 billion vs Q2 -$188.9 Full Report
Inside the number: Net financial inflows decreased from 152.8 billion in Q2 to 93.4 billion in Q3.
US Treasuries $46 billion in purchases vs $1.8 billion. Other than US Treasuies...
Transactions in US securities shifted to net foreign sales across the board, resulting in Q3 $44 billion in sales vs Q2 $243 billion in purchases.
TIC Net Foreign Purchases Oct +$114B vs prior +$15.4B Full Report
Inside the number: Prior revised up from -$26.4B to +$15.4B. Net TIC inflows went from -$32.8B to +97.8B, upon further review...
Treasuries: Private net purchases $46B vs $11B; Central bank net purchases $4B vs $14B. YTD Private $231B vs $147B; Central Bank $1.2B vs $73B.
Line 30 Monthly Net TIC Inflows YTD $589B vs 06 $1126B, a 50% reduction. Line 31 Private net inflows $346B vs 06 $999B, a 66% reduction.
Our surplus account balance or the dark financial matter from dollar hegemony is getting sucked into a black hole.
Despite a record low on the dollar... Current account balance shows foreign acquisition of US assets declined 33% in Q3.
Outside of US Treasuries, foreigners sold off US assets across the board. TIC inflow data confirming...
and showing that private foreign investors, single handed, have been keeping US Treasuries afloat and rates down.
However, YTD monthly net TIC inflows have been cut by half and private inflows have been cut by two thirds. Can you say black hole budget crisis?
NAHB/Wells Fargo Housing Index 19 vs prior 19 Full Report
Inside the number: An unsentimental journey... Home builder sentiment held at a record low for a third consecutive month in December...
weighed down by problems in the mortgage market and a huge and evergrowing supply of unsold houses.
NY Empire State Manufacturing 10.3 vs prior 27.3 Full Report
Inside the number: New orders 14 vs 24; Shipments 21 vs 32; Backlog -10 vs -1; Inventories -10 vs -1; Prices Paid 35 vs 42.
Current Account Balance Q3 -$178.5 billion vs Q2 -$188.9 Full Report
Inside the number: Net financial inflows decreased from 152.8 billion in Q2 to 93.4 billion in Q3.
US Treasuries $46 billion in purchases vs $1.8 billion. Other than US Treasuies...
Transactions in US securities shifted to net foreign sales across the board, resulting in Q3 $44 billion in sales vs Q2 $243 billion in purchases.
TIC Net Foreign Purchases Oct +$114B vs prior +$15.4B Full Report
Inside the number: Prior revised up from -$26.4B to +$15.4B. Net TIC inflows went from -$32.8B to +97.8B, upon further review...
Treasuries: Private net purchases $46B vs $11B; Central bank net purchases $4B vs $14B. YTD Private $231B vs $147B; Central Bank $1.2B vs $73B.
Line 30 Monthly Net TIC Inflows YTD $589B vs 06 $1126B, a 50% reduction. Line 31 Private net inflows $346B vs 06 $999B, a 66% reduction.
Our surplus account balance or the dark financial matter from dollar hegemony is getting sucked into a black hole.
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