Financial Sense

Social Security Versus CBO – Who Do You Trust?
Bruce Krasting's picture

The 2014 Social Security report to Congress is finally out. The report was released four-months later than permitted by law; this is the sixth year in a row that the Report has been late. The word ‘sloppy’ comes to mind; Treasury Secretary Lew gets a ‘D’ for timeliness.


M.A.D. Sanctions; Two Games at Once
Michael Shedlock's picture

Sanctions are a lose-lose-lose game. Consumers lose, businesses loses, countries lose. And the hypocrisy alone is appalling.


Economy Expands at 4.0% Annual Rate in Q2
Tim Iacono's picture

The Commerce Department reported that the U.S. economy expanded at a rate of 4.0 percent in the second quarter, well above the consensus estimate of 3.0 percent, and the contraction during the first quarter was revised up from a -2.9 percent rate to -2.1 percent.


Consumer Confidence Surges; Highest Since the 2007 Market Peak
Doug Short's picture

The Latest Conference Board Consumer Confidence Index was released this morning based on data collected through July 17. The headline number of 90.9 was an improvement over the revised June final reading of 86.4, an upward revision from 85.2.


Q3 Estimates Beginning to Slip
Sheraz Mian's picture

Earnings remain front and center in today’s session even as we move into the second half of the Q2 reporting season, which has broadly offered a positive and reassuring picture of corporate profitability.


Fed Exit a Blue Pill?
Axel G Merk's picture

While we are busy arguing whether the Fed’s exit will consist of rising rates, reverse repos or the trimming of its massive portfolio, the Fed may well be fooling all of us. Investors must have been swallowing lots of blue pills not to see the illusion hiding in plain sight.


How BRICS’ New Bank Will Challenge the West
Global Risk Insights's picture

BRICS countries have launched the New Development Bank with the aim of boosting infrastructure investment. The new bank may not become a key lender in the world economy but could challenge Western development policy.


U.S. Home Price Gains Slow … or Reverse
Tim Iacono's picture

Standard & Poor’s reported(.pdf) that U.S. home price gains have slowed dramatically in recent months and, on a seasonally adjusted basis, home prices have now declined for the first time in two-and-a-half years as shown below.


Energy Myths and Conspiracy Theories
Oil Price's picture

Ah, myths, urban legends and conspiracy theories -- don’t you just love ‘em? Still, you would think that in this day and age, when information flows more freely than ever before, they would be less prevalent than they were in the pre-Internet days.


The Case for a Bull or Bear Market in Two Charts
Charles Hugh Smith's picture

Which appears more likely—a straight-line extension of the past two years' rise in stocks, or another "impossible" decline to complete the megaphone pattern?


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