Economics Update

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Housing Start Graph Pr0n Courtesy of Calculated Risk


Foreclosure/Default Graph Pr0n Courtesy of The Big Picture

We are still not seeing any signs of inflation, with wholesale prices falling 0.6$ in September, largely on falling energy costs, so this is unlikely to repeat this month.

Also, the G20 country in the best fiscal position right now is Canada, and the Bank of Canada is keeping its benchmark rate at 0.25%, so it is declining to follow Australia's lead.

In real estate, housing rose to 590,000, which was below expectations, and applications for housing permits fell.

In energy, the eight-day long rally has ended after briefly being about $80/bbl, though it's likely just some profit taking.

8 Days is a long time in the commodities market.

Meanwhile, the dollar is up, largely on strong statements from various European central bankers and politicians about how they support a strong dollar.