Given the state of the world economy (especially in the U.S.), I think this topic is important enough to maintain an active thread to help CPF'ers understand where things MIGHT be going and what is happening now.
I know this topic has the potential to be heated (like the other one), so if you want this thread to remain open for discussion, please abide by all CPF rules governing posts. In other words, keep it civil. You may attack the content, but please do not attack the poster. Everyone is entitled to their own opinions, so I would ask that you respect that.
Anybody seen any good economic data coming out of the U.S. lately? I've been looking, but haven't seen any.
Let's do a rundown:
Consumer Confidence Indices: down big in February
U.S. Average Home Prices: down 9.1% (y/y) in December
Existing Home sales: down 0.4% in January
New Home Sales: down 2.8% in January
Homes for sale inventory: 10.3 months supply
Durable goods orders: down 5.3% in January
Producer Price Inflation: at 7.4% (highest in 26 years)
Consumer Price Inflation: at 4.3%
Sales of single-family homes at 13-year low
Price of oil at all-time highs. Price for wheat, soybeans, corn....all time highs.
Perhaps the only good news that I see was some stability in the bond insurance business as the rating agencies have recently re-affirmed the credit ratings for MBIA and AMBAC. However, although the immediate catastrophy has been averted, these bond insurers remain a major structural problem in our financial markets.....
Am I missing anything here, or is the U.S. pretty much in a recession?
The topic cannot be addressed properly without recognizing blame involved with opinions, attitudes and practices. One should be free to express such, but such drama isn't the nature of the Cafe. An important topic it is, and is the reason our Underground exists. The topic should be dealt with there without having to tiptoe through it, and without having to express caution in the opening post to hold back.