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If you've been following our discussions on inflation over recent months, you'll know that the cold, hard evidence of financial reality indicates that our inflation rate is close to out of control. The official rate of inflation bears about as much resemblance to the actual, on-the-street reality as I do to Mata Hari. Some months ago, I suggested: "To know the true rate of consumer inflation in the USA, take the official rate declared by the government and multiply it by 3½. The result will be much closer to reality." We can argue about the multiplication factor until the cows...

The latest auto sales data revealed that in July, auto sales came in at a 14.75 million SAAR per Wards; while total unit sales in July declined by less than 1% sequentially to 1.288 million (from 1.295 million in June), when factoring in the seasonality adjustment, July US SAAR declined by about 4% sequentially (US SAAR was 15.4 million in June per Wards). The July SAAR came in just below the consensus estimate of 15 million.Some more details: car sales were up about 4% yoy, SUV sales were up about 9% yoy, and pickup truck sales were down about 3%...

For several months, many of my articles covered the global shortages and coming shortages facing the worldwide economy. My articles warn of food, chip, fuel, and commodity shortages. I also wrote about inflation, crop failures, and scarcity of any goods that consumers may need or want. Some readers may feel it was a bit like paranoia and overkill at the time. Guess what? MSM now reveals my writings on global shortages are, in fact, accurate Many articles found on MSM corporate outlets report on global shortages. In fact, those articles seem like I could have written them. (Not the general...

They keep telling us that economic conditions are improving, but if that is true why are the shortages worse than ever? For a moment, I would like to take you all the way back to 2019. Before the pandemic came along, we didn’t have any shortages. If you wanted something, you just went to the store and got it or you ordered it online. Prices were low, global supply chains were functioning smoothly, and to most people it seemed like it would stay that way for the foreseeable future. But then the pandemic hit, and “panic buying” caused short-term shortages...

A majority of truckers are vowing to halt deliveries to cities that defund or disband their police departments, according to a recent poll. Seventy-nine percent of truck drivers said they felt their safety would be at risk if they had to deliver to a city with a disbanded police department, according to CDL News, a website for the commercial trucking industry. Long-haul truck drivers have been on the front lines of the coronavirus pandemic for the past year due to stay-at-home orders requiring most Americans to buy their goods online, and have had to deal with protests. Now many truckers...

77% of truck drivers say they will not deliver to far left cities with defunded police departments. Nor should they. Truck driving is a dangerous profession. Far left mayors and violent rioters make it deadly.Here’s a scene from a “peaceful protest” last week that did not end well for the trucker. CLICK ABOVE ARTICLE LINK FOR THE VIDEO The mob yanked him from his cab and beat him senseless. Truck driver dragged out of his vehicle into the road and attacked by a mob of savages in Minneapolis. pic.twitter.com/yLxkqZ0cba— Jack Dawkins (@DawkinsReturns) June 1, 2020 Via CD Life: As...

As cities across the country are discussing defunding or disbanding their police departments, truck drivers are voicing concerns of safety. Seventy-seven percent of truck drivers say they will refuse to deliver freight to cities with defunded police departments. Truck driving is historically ranked as one of the most dangerous jobs in the country. In 2018, U.S. Bureau of Labor Statistic reported truck driving as the most deadly job in the country. Truck drivers have spent the last year on the front line of a global pandemic and protests. Now many are fearful of what might happen if police departs disband...

White House trade adviser Peter Navarro says the Chinese coronavirus crisis is vindicating President Trump’s economic nationalist agenda, underscoring how “dangerously over-dependent” the nation is on global supply chains overseas. https://www.youtube.com/watch?v=pKmmu9cPReQ&feature=emb_title  

Explains the struggle to be a trucker especially during Coronavirus shut-down

It’s not just luxury-home listings that are piling up in New York City. Even units for less than $1 million — within reach of far more people than a Billionaires’ Row penthouse — are hurting for buyers. In Manhattan, the inventory of sub-$1 million apartments surged 27 percent in June from a year earlier to 3,087, the most for the month since 2013, according to StreetEasy. Such listings jumped 17 percent to 2,738 in Brooklyn, and climbed 6 percent to 2,314 in Queens, a borough usually sought out for its relative affordability. Buyers at all price points are taking their...

While we already observed that in Q1, US GDP rose by an appalling 0.2%, far, far below the consensus Wall Street estimate (in case you missed it, here again is the one thing every Wall Street economist desperately needs) and precisely in line with the Atlanta Fed forecast which we brought attention to in early March, confirming yet again that US stocks no longer reflect any fundamentals but merely Fed and global liquidity injections, there is something far more disturbing under the surface of today's GDP report. Inventories.Specifically, the $121.9 billion increase in private, mostly nonfarm, inventories in the...

Moments ago the Commerce department reported Q2 GDP which blew estimates out of the water, printing at 4.0%, above the declining 3.0% consensus, as a result of a surge in Inventories and Fixed Investment, both of which added over 2.5% of the total print, while exports added another 1.23% to the GDP number. The full breakdown by component is shown below. What is interesting is that the Commerce Department announced that as a result of incomplete June data, the biggest components of the GDP beat, Inventories and Trade, were estimated. In other words, assume that future revisions of Q2 GDP...

The CoreLogic National Foreclosure Report is out for October 2013. The good news! Foreclosure inventory in the U.S. fell 30.6% YoY in October. sersleinf120913 Florida leads the U.S. in foreclosure inventory as a percentage of mortgaged homes at 7.1%, followed by New Jersey at 6.7% and New York at 4.9%. clforecinvstate The lowest state in terms of foreclosure inventory? Wyoming at 0.4% followed by Alaska and Nebraska at 0.6%. If we compare judicial and non-judicial foreclosure states, we see a glaring difference. The worst states for percent of homes in foreclosure at judicial states (FLA, NJ, NY). The best states...

Economist Jed Kolko at Trulia writes: Housing in 2013: What’s In, What’s Out. Kolko discusses five predictions for 2013, the first is on inventory: 1. OUT: Will Home Prices Bottom? IN: Will Inventories Bottom? The big question this year was whether home prices had finally hit bottom. We now know the answer is a resounding “Yes”: every major index shows asking and sales prices rising in 2012. The key question in 2013, though, is whether prices will rise enough so that for-sale inventory–which has fallen 43% nationally since the summer of 2010–will hit bottom and start expanding again. The sharp...

Just as we thought GM's channel stuffing days may be coming to an end, and the company may finally be normalizing its inventory management, here come January numbers, where we learn that in addition to car sales declining by 6% compared to a year ago, at 167,962 vehicles sold (of note: "Retail deliveries declined 15 percent compared with the same month a year ago and accounted for 70 percent of GM sales"), it was the all critical month end dealer inventory that caught our attention. And unfortunately as the skeptics expected, GM is back to its old tricks, as dealer...

WASHINGTON (MarketWatch) — The U.S. economy slowed markedly in the first quarter and inflation accelerated, clear evidence of the double whammy on the economy from higher gasoline prices. In its first estimate Thursday, the Commerce Department said gross domestic product rose at a 1.8% annual rate between January and March, slower than the 3.1% pace in the prior three months. Economists polled by MarketWatch had expected a slightly weaker 1.7% growth rate. They blamed the slowdown on weather disruptions and higher gasoline prices, as well as a drop in defense spending. See our economic calendar with forecasts of major indicators....

Japan's whale meat stocks likely hit record high in Aug 2010 Wednesday 05th January, 02:32 PM JST TOKYO — Japan’s whale meat stocks may have reached a record high of over 6,000 tons last August, a conservation group said Wednesday, suggesting sluggish consumption of the meat, which comes from the country’s contentious whaling for what it calls research purposes. The finding will likely heighten calls for Tokyo to review its research whaling program as it is financed partly by revenues from sales of the meat as well as state subsidies, observers say. The Iruka & Kujira (Dolphin & Whale) Action...

Inventories The Department of Energy reported that in the week ending December 24th, 2010, U.S. crude oil inventories decreased by 1.3 million barrels, gasoline inventories decreased by 2.3 million barrels, distillate inventories increased by 0.2 million barrels, and total petroleum inventories decreased by 9.1 million barrels. After a brief pause last week, the total petroleum surplus resumed its downward trend. Stocks are now 56.2, or 5.5%, above the 5-year average, down from 6% last week. Back during the middle of September, the surplus was almost double what it is now at 111 million, or 10.7%. Crude oil inventories fell seasonally,...

Blistering Holiday Hiring Shreds The "All The Growth Is From Inventory" Scaremongers Joe Weisenthal Nov. 5, 2010, 3:02 PM When Q3 GDP came in at 2%, bears pointed out that it was all due to inventory rebuilding, and that the economy was fundamentally not strong. But as we pointed out at the time, you should only fear an inventory build if the end demand isn't there to follow it up. And though we don't know for sure, this would confirm that the demand will be there. Holiday hiring, as this chart from Calculated Risk shows, is already at a blistering...

Inventory Rebuilding Is Over And Now The Fed Is Spooked Mike "Mish" Shedlock Global Economic Trend Analysis Oct. 18, 2010, 4:06 PM Industrial Production Unexpectedly Declines, First Drop in a Year; Where to From Here? In yet another sign of a weakening economy, Production in U.S. Unexpectedly Dropped in September Output at factories, mines and utilities fell 0.2 percent, the first decline since the recession ended in June 2009, figures from the Federal Reserve showed today. Factory production also decreased 0.2 percent, reflecting declines in consumer durable goods, like appliances and furniture. The rebuilding of stockpiles, a component of the...