1
Terry McAuliffe Will Not Run for President
The former Virginia governor concluded that his moderate profile would have
limited appeal when Democrats appear to be choosing between younger,
progressive contenders and veteran politicians.
Ok
2
Thursday: Retail Sales, Unemployment Claims, Philly Fed Mfg
Thursday:
• At 8:30 AM: The *initial weekly unemployment claims* report will be
released. The consensus is for 206 thousand initial claims, up from 196
thousand the previous week.
• At 8:30 AM: *Retail sales* for March is scheduled to be released. The
consensus is for 0.8% increase in retail sales.
• At 8:30 AM: the *Philly Fed manufacturing survey* for April. The
consensus is for a reading of 10.2, down from 13.7.
No surprises.
3
2020 Democrats Seek Voters in an Unusual Spot: Fox News
A network known for conservative commentary and staunch loyalty to the
president is drawing Democratic candidates eager for a big platform with
access to Trump voters.
Converts will be welcomed.
4
White House and Justice Dept. Officials Discussed Mueller Report Before Release
Some of President Trump’s advisers are concerned about whether he will
retaliate against them if the report reveals them as sources of damaging
details.
"It is better to be feared than loved"
https://en.wikipedia.org/wiki/Niccol%C3%B2_Machiavelli
https://en.wikipedia.org/wiki/No_Truce_with_Kings
https://www.poetryloverspage.com/poets/kipling/old_issue.html
5
E.P.A. Moves to ‘Close the Door’ on Asbestos. Consumer Groups Say Loopholes Remain.
The new rule will restrict uses of asbestos, a carcinogen, more than
initially expected, but health advocates criticized it as falling short of
the protections needed.
"“A complete ban is appropriate but this is an easier thing to do. It’s
something that should put a fence around the current uses,” Mr. Timm
said. “It’s a partial step, a good first step.”"
6
What Is Asylum and Who Can Seek It? Explaining Trump’s New Restrictions
Attorney General William P. Barr issued an order that could keep thousands
of migrants seeking asylum in jail while they wait for their requests to be
evaluated by a judge.
https://en.wikipedia.org/wiki/The_Masque_of_the_Red_Death
The problem is on this side of the border.
7
What Is Asylum and Who Can Seek It? Explaining Trump’s New Restrictions
Attorney General William P. Barr issued an order that could keep thousands
of migrants seeking asylum in jail while they wait for their requests to be
evaluated by a judge.
Torturing the victims will not help.
Empire has a price.
8
Treasury Issues Rules on Tax Breaks for Opportunity Zones
The move lays out criteria for the program after some critics said it
risked funneling money to real estate rather than start-up businesses.
Jane Jacobs specifies inhabited ruins for startups.
There is little rent in that.
9
Lawler: Early Read on Existing Home Sales in March
From housing economist Tom Lawler: Early Read on Existing Home Sales in
March
Based on publicly-available local realtor/MLS reports released across the
country through today, I project that existing home sales as estimated by
the National Association of Realtors ran at a *seasonally adjusted annual
rate of 5.40 million in March*, down 2.0% from February’s preliminary pace
and down 2.0% from last March’s seasonally adjusted pace. Unadjusted sales
should show a larger YOY decline, reflecting this March’s lower business
day count relative to last March.
On the inventory front, local r... more »
More bad news for builders.
10
Fed's Beige Book: Economic Growth "Slight to moderate", Labor Market "Tight"
Fed's Beige Book "This report was prepared at the Federal Reserve Bank of
St. Louis based on information collected on or before April 8, 2019."
*Economic activity expanded at a slight-to-moderate pace in March and early
April*. While most Districts reported that growth continued at a similar
pace as the previous report, a few Districts reported some strengthening.
There was little change in the outlook among contacts in reporting
Districts, with those expecting slight-to-modest growth in the months
ahead. Reports on consumer spending were mixed but suggested sluggish sales
for both ... more »
A lack of immigrant labor.
11
Monica Crowley, a Fox News Fixture, Is Said to Get a Top Treasury Job
The choice of Ms. Crowley for the Treasury’s top communications role comes
about two years after she withdrew as a candidate for other administration
jobs in the face of plagiarism accusations.22
A Rupert Murdoch rental.
Less costs more.
12
On ‘Made in America,’ Trump’s F.T.C. Appointees May Be Out of Step With Him
Democrats on the Federal Trade Commission want to penalize companies that
falsely market products as American made, but the president’s appointees
reject that approach.
Campaign promises can be a burden in office.
13
AIA: "Architecture Billings Index backslides in March"
Note: This index is a leading indicator primarily for new Commercial Real
Estate (CRE) investment.
From the AIA: Architecture Billings Index backslides in March
Following consistently increasing demand for design services for over two
years, the Architecture Billings Index (ABI) dipped into negative territory
in March, according to a new report today from The American Institute of
Architects (AIA).
*The ABI score for March was 47.8, down from 50.3 in February*. Indicators
of work in the pipeline, including inquiries into new projects and the
value of new design contracts remained ... more »
The developers are dragging their feet.
The buyers are not pushing.
14
Trade Deficit Decreased to $49.4 Billion in February
From the Department of Commerce reported:
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced
today that the goods and services deficit was $49.4 billion in February,
down $1.8 billion from $51.1 billion in January, revised.
February exports were $209.7 billion, $2.3 billion more than January
exports. February imports were $259.1 billion, $0.6 billion more than
January imports.
[image: U.S. Trade Exports Imports] *Click on graph for larger image.*
Exports increased and imports decreased in January.
Exports are 27% above the pre-recession peak and up 2% compa... more »
Tarifs are paid by the buyer.
https://en.wikipedia.org/wiki/Balance_of_trade
The U.S. bought less.
15
MBA: Mortgage Applications Decreased in Latest Weekly Survey
From the MBA: Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage applications decreased 3.5 percent from one week earlier,
according to data from the Mortgage Bankers Association’s (MBA) Weekly
Mortgage Applications Survey for the week ending April 12, 2019.
... The Refinance Index decreased 8 percent from the previous week. *The
seasonally adjusted Purchase Index increased 1 percent from one week
earlier*. The unadjusted Purchase Index increased 2 percent compared with
the previous week and was *7 percent higher than the same week one year ago*
.
...
“Mortgage appli... more »
Fewer attempted purcheses.
16
So You Want To Be The Next Silicon Valley? One Thing You Must Not Do.
Recently I’ve been re-reading Peter Hall’s magisterial “Cities in
Civilization.” It’s a huge doorstopper of a book, the majority of which is
histories of cities Golden Ages. Artistic, technological, civic, and so on.
One of the histories is of Silicon Valley. And if there is anything which
is clear from that history it is that […]
Technology advances by competition.
Less rent is collected.
17
Julián Castro Needs a Defining Moment. It Hasn’t Come Yet.
Mr. Castro brings youth and diversity to the Democratic presidential field.
But, overshadowed by some peers, he has failed to get traction in early
polls.
Desire is not enough.
18
The Mueller Report Will Be Released on Thursday. Here’s a Guide.
All spin so far.
19
Court Rejects 2 Years of Judge’s Decisions in Cole Tribunal
Steve Bannon is not happy.
||
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