This Week’s Data
The International Council of Shopping Centers reported weekly sales of major retailers up 0.5% versus the prior week and up 3.4% versus the comparable period last year; Redbook Research reported month to date retail chain store sales up 1.5% on a year over year basis.
The June Case Shiller home price index came in +0.9%.
The August Conference Board’s consumer confidence index was reported at 60.6 versus estimates of 65.9.
The August Richmond Fed’s manufacturing index came in at -9 versus forecasts of -10.
Weekly mortgage applications fell 4.3% though purchase applications increased by 1.0%.
The second revision of second quarter GDP came in at +1.7, in line while the GDP deflator was reported at +1.6%, in line.
A look at the ‘hollowing out’ of the middle class (medium):
China’s nonperforming loan problem (medium):
Another milestone for our political class: $16,000,000,000,000 in debt (short):
Wednesday morning humor (2 minute video):
Health insurance and political risk (medium):
The war on children (medium):
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