Here are the new articles at Global Economic Intersection for September 18 and 19:
- CPI Essentially Flat in August 2010 by Steven Hansen
The real story is the very low consumer price increases YoY in August 2010 – and that the seasonal adjustment factors are not working. There is hardly any seasonality in the data, and that the government's seasonal adjustments are over adjusting the data. Read the full article.
- Manufacturing Green Shoot is Wilting by Steven Hansen
This week's economic data continued to find the seasonal adjustment factors are not working properly. In most cases, if you compare the current data to pre-Great Recession data – one conclusion can be drawn. While if you compare the data to New Normal, another conclusion can be drawn. Industrial Production data was particularly affected. Read the full article.
- A Case for the NBER to Call it's First Depression by Steven Hansen
The Federal Reserve has issued its Z.1 Flow of Funds Accounts of the United States for Second Quarter 2010. Joe Sixpack got poorer in 2Q2010 by 2.7%. This is quite unusual in a “recovery”. Read the full article.
- Commodities Close In on a New All-Time High by John Lounsbury
We have experienced unprecedented volatility in commodity prices over the past two years. Is this indicative that decades long price trends may be changing? Read the full article.
- Housing Market Round Table: Arends, Olick and Ritholtz by John Lounsbury
Even an optimist is not arguing that the housing market has bottomed, as seen and heard on CNBC. Read the full article.
Disclosure: No positions.