I've been firmly in the recession camp of the, "Is it recession yet," dispute, and the the Leading Economic Indicators falling again reinforces that notion, though the fact that the Philadelphia Fed Factory Index rose runs counter to that, but as it is the first rise in 10 months, I put that one in the outlier category.
Meanwhile, the weekly, and this week affected by hurricanes, new filings for unemployment rose to 455K and housing starts fell to a 17 year low, even as mortgage rates continue to fall.
Of course, not too many people can get the loans these days, because all the money is fleeing to treasuries.
Gas prices tick higher - Sep. 17, 2008
Housing Starts Plummet to 17-Year Low in August - Economy * US * News * Story - CNBC.com
In energy, eased off of a bit, as did gasoline for the first time in 9 days, as the panicking over Hurrican Ike moderated.
Finally, I just want to say that Tom Toles is a bloody genius:
0 comments :
Post a Comment