Tag Archives: US EConomics

Blogger RJS, MarketWatch 666 and Focus on Fracking, Global Oil Shortage at 1,930,000 barrels per day in October as OPEC’s output falls 588,000 barrels per day short of quota OPEC’s October Oil Market Report Thursday of this week saw the release of OPEC’s November Oil Market Report, which includes OPEC & global oil data for October, and hence it gives us a picture of the global oil supply & demand situation for the third month after...

Latest US Oil Supply and Disposition Data from the EIA. Blogger RJS, Market Watch and Focus on Fracking Gasoline supplies at a 48 month low, distillate supplies at a 19 month low; total inventories of oil and all its products at a 79 month low US oil data from the US Energy Information Administration for the week ending November 12th showed that a big jump in our oil exports and a modest decrease in our oil production meant we had to pull oll...

 . . And Industrial Production isn’t too shabby, either Industrial production, the King of Coincident Indicators, was reported for October this morning in addition to real retail sales, discussed already in my last post. – and it was also quite positive. Total production increased 1.6% during the month, and manufacturing production increased 1.3%. This was the biggest monthly increase for total production since March of this year, and...

“Letters From An American,” November 18, 2021; Professor Heather Cox – Richardson Today began with Republican leadership doubling down on its support for Representative Paul Gosar (R-AZ), whom the House censured yesterday for tweeting a cartoon video of himself killing a Democratic colleague, Alexandria Ocasio-Cortez (D-NY), and attacking the president, Joe Biden. Only two Republicans voted with the Democrats in favor of the censure. Former...

Housing construction continues to stabilize, but with record bottleneck in starts Last month I highlighted that housing constructions were stabilizing, following the stabilization in interest rates. This month continued that trend.  In October, housing starts (green in the graphs below) decreased -0.7% m/m, while the more leading total permits (blue) increased 4.0%. The less volatile single-family permits (red) increased 2.7%. As a result, the...

Dems Continue To Sink Despite Improving Economy  On the first page of today’s Washington Post was reported a poll showing that when a random sample was asked, 46% said they would vote for a generic Republican candidate for Congress versus 43% for a generic Democratic candidate. Given reported further pro-GOP gerrymandering, if this were to hold for next year’s midterms, GOP would certainly take solid control of the House, if not the Senate.  Not...

Now *that’s* good news: another blockbuster real retail sales report Yesterday I wrote that the financial and production sides of the economy still looked very positive and that today’s retail sales number would be especially important. Well, they were very positive, clocking in at up 1.7% month over month in October. Even after inflation, “real” retail sales were up 0.7%. September was unrevised. Although real retail sales are down -2.2% from...

Coronavirus dashboard for November 12: regional variations and the winter wave There’s a glitch in 91-Divoc collecting Johns Hopkins data, so the State by State totals have not been updated for several days, but here is Our World in Data’s update for the US as a whole: As of yesterday, cases are up only 3.5% from their recent low 2 weeks ago.Meanwhile, deaths have also stopped declining, but have not increased from their low of just...

Dear Democrats: Yes, inflation is a problem [Update: I see where Larry Summers has obviously read my piece below, and says, “I agree with NDD!”  (Just teasing)] In the past few days, I have seen a spate of articles and tweets from prominent partisans and economists telling Democrats not to worry about inflation, either because it is a transient supply chain issue, or else because Biden’s infrastructure and “Building Back Better” plans will...

 by New Deal democrat Weekly Indicators for November 8 – 12 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. Surprisingly, given the big increase in the CPI (that is likely to continue via “owner’s equivalent rent”), almost all the indicators across all timeframes remain positive. As usual, clicking over and reading will bring you up to the virtual moment, and bring me a little bit of remuneration for my efforts. ...