Refreshing economic news

Happy Thanksgiving eve folks! There is a lot of economic data today, here are the major stats… Consumer Spending: That ultimate bellwether in economic growth, consumer spending, was up 0.7% in October. This number is made more positive because spending in...

Courting Germany to court Russia

Let’s adjust context for a moment from the economy and financial markets back to the topic of Iran’s nuclear program. Germany’s Foreign Minister is currently in Israel to meet with Israeli Prime Minister Benjamin Netanyahu, President Shimon Peres and...

Pay your mortgage & grab your scuba gear

Good morning everyone! I have some not very good news to report. Santa Ana, California’s First American CoreLogic is reporting that 23% of homeowners in the U.S., or a staggering 10.7 million households, owe more on their house than the house is worth!!...

Home resales lift off

Home resales in October were up 10.1% vs. a consensus expected increase of 2.3%. The gigantic outperformance has to be attributed to the first time home buyer tax credit that Congress voted to extend. What this means: While the number is certainly welcome and will...

Disagreement among climate change scientists

Hello again – so glad that you have joined me here on ze blog! The Wall Street Journal is reporting this morning about a number of e-mails that were hacked out of East Anglia University in the U.K. East Anglia is a clearing house for much of the climate change...