Instapopulist

3rd Quarter Real PCE to Date Suggests Weak Contribution to GDP

The key monthly release of the past week was on Personal Income and Outlays for August from the BEA, which gives us the first look at personal consumption expenditures for the month, which as we know has been the critical component of GDP during the recovery.  This report also includes data on personal income and disposable income after taxes, total personal savings and the national savings rate, as well as the price index for PCE, which

FHA Drops a $1.7 Billion Bail Out Bombshell on Friday Night

The FHA is getting a $1.7 billion bail out from the Treasury.  Seems those reverse mortgages have managed to accrue $5 billion in losses.  The news was disclosed in a letter to Congress, not even a press release.  Most of us know the drill.  Have to issue news but want no one to read it?  Release it at 5pm on a Friday.

Realtors Say Home Sales Spiked in July; Let’s Wait till August

In contrast to new home sales, which plunged in July, the National Association of Realtors (NAR) reported that existing home sales "spiked" in July, increasing at a seasonally adjusted 6.5% rate to an annual sales rate of 5.39 million homes, up from a 5.06 million pace in June, which was

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