Mike Shedlock

Posted May 27, 2015

Last month, new home sales fell a very steep 11.4 percent to a 481,000 annual rate. Given the volatile nature of this series one might have expected a bounce in May and sure enough we got one, albeit not enough to wipe out April's dismal performance.

Posted May 23, 2015

Inquiring minds are reading Fed Chair Janet Yellen's Outlook for the Economy speech, delivered today at the Providence, Rhode Island Chamber of Commerce.

Posted May 22, 2015

Economists overestimated existing home sales on Thursday, rounding out another impressive day of overoptimism.

Posted May 21, 2015

In yet another triumph of stupidity over common sense, a triumph that is sure to cost jobs, slow growth, and encourage more robotic replacement of workers, Los Angeles' Minimum Wage on Track to go up to $15 by 2020.

Posted May 19, 2015

Economists have bought into the transitory soft patch thesis of the Fed, hook line and sinker. Please consider Economists Forecast: Here We Grow Again.

Posted May 15, 2015

The Fed is struggling like mad to produce inflation, with little success on some fronts. Of course the Fed ignores asset bubbles in its measures.

Posted May 14, 2015

Economists were surprised by the dismal retail sales report this morning. That's not surprising because economists are nearly always surprised.

Posted May 13, 2015

Greece said it would make its payment to the IMF on time and it did, one day early in fact. How?

Posted May 07, 2015

Wednesday's BLS release on Productivity and Costs shows a back-to-back decline in productivity accompanied with rising wages. Productivity is up year-over year, but barely, at 0.6%.

Posted May 06, 2015

I had a lot of fun yesterday morning on CNBC.

Posted May 05, 2015

I have seen many grim predictions regarding robots taking away human jobs, but one of the most dire predictions comes from a study commissioned by ING-Diba.

Posted May 03, 2015

Economists have been overly optimistic on the majority of economic reports for going on six months.

Posted May 01, 2015

A BLS report out Thursday shows Compensation Costs up 0.7% December 2014-March 2015 and 2.6% over the year ending March.

Posted April 30, 2015

Don't worry. The First Quarter GDP Disaster, released yesterday is transitory.

Posted April 29, 2015

The Fed manufacturing surveys continue to disappoint. Today, the Richmond Fed reading came in at -3 matching the lowest guess on Bloomberg.

Posted April 28, 2015

New orders in the Dallas Fed manufacturing survey came in negative for the sixth straight month today.

Posted April 25, 2015

In a move 100% guaranteed to blow up at a later date, the ECB Said to Start Buying Covered Bonds With Negative Yields.

Posted April 24, 2015

The Bloomberg consensus estimate for new homes sales was an overly-optimistic 518,000. Instead, it's bad news again as new home sales fell a very steep 11.4 percent to a 481,000 annual rate.

Posted April 23, 2015

The amusing headline of the day comes from ECB Executive Board Member Benoit Coeure who told Greek newspaper Kathimerini on Wednesday in an interview ECB to Fund Greek Banks as Long as They Stay Solvent. Read more at http://globaleconomicanalysis.blogspot.com/#AQf5FjZIVOuiuzVI.99

Posted April 22, 2015

Today a $295.7 million bond offering by the beleaguered Chicago Board of Education hit the market.