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BLS: CPI increased 0.1% in May, Core CPI increased 0.1%
From the BLS:
*The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1
percent in May* on a seasonally adjusted basis after rising 0.3 percent in
April, the U.S. Bureau of Labor Statistics reported today. Over the last 12
months, the all items index increased 1.8 percent before seasonal
adjustment.
...
*The index for all items less food and energy increased 0.1 percent for the
fourth consecutive month*.
...
The all items index increased 1.8 percent for the 12 months ending May. *The
index for all items less food and energy rose 2.0 percent over the last 12
months*, a... more »
MBA: Mortgage Applications Increased Sharply in Latest Weekly Survey
From the MBA: Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage applications increased 26.8 percent from one week earlier,
according to data from the Mortgage Bankers Association’s (MBA) Weekly
Mortgage Applications Survey for the week ending June 7, 2019. The results
for the week ending May 31, 2019 included an adjustment for the Memorial
Day holiday.
... The Refinance Index increased 47 percent from the previous week. *The
seasonally adjusted Purchase Index increased 10 percent from one week
earlier*. The unadjusted Purchase Index increased 20 percent compared wi... more »
23 Democrats Are Running for President. Do Any of Them Know What They’re Doing?
How do you unite a fractious base and defeat President Trump? No one seems
to know, but that isn’t stopping them from giving it a try.
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On Politics: Biden vs. Trump
NYT > Politics - 9 hours ago
In the most ferocious day of attacks so far in the campaign, the two men
traded insults as they each campaigned in Iowa.
House Approves Court Action to Enforce Democrats’ Subpoenas
The House voted on Tuesday to authorize its committees to go directly to
court to enforce subpoenas that the Trump administration is resisting or
ignoring.
A Truce Falters, and a Plan to Raise Congress’s Pay Falls Apart
Democratic and Republican House leaders tried to broker a deal for an
increase after a decade of frozen pay, but ran up against vulnerable
freshmen Democrats.
Democrats to Scrutinize Ex-Lobbyist’s Role in Trump’s Arms Sales to Gulf Nations
Legislators are scrutinizing State Department officials under Mike Pompeo,
including Charles Faulkner, a former lobbyist who represented Raytheon
Company.
Climate Change Poses Major Risks to Financial Markets, Regulator Warns
The regulator, who sits on a powerful government panel that oversees major
financial markets, likened global warming risks to the 2008 mortgage crisis.
Buttigieg Outlines Foreign Policy Views, Urging End to ‘Endless War’
The speech in his home state of Indiana seemed aimed at easing concerns
about his age and lack of experience in world affairs.
Wednesday: CPI
Wednesday:
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the
results for the *mortgage purchase applications index*.
• At 8:30 AM, The *Consumer Price Index for May* from the BLS. The
consensus is for 0.1% increase in CPI, and a 0.2% increase in core CPI.
House Approves Court Action to Enforce Democrats’ Subpoenas
The House voted on Tuesday to authorize its committees to go directly to
court to enforce subpoenas that the Trump administration is resisting or
ignoring.
As 2020 Candidates Struggle to Be Heard, Their Grumbling Gets Louder
There’s only so much room in the spotlight in the Democratic presidential
race, leaving some candidates feeling left out. “It’s a ‘Hunger Games’
situation,” one said.
LA area Port Traffic Down Year-over-year in May
*Special note:* The expansion to the Panama Canal was completed in 2016 (As
I noted a few years ago), and some of the traffic that used the ports of
Los Angeles and Long Beach is probably going through the canal. This might
be impacting TEUs on the West Coast.
On the impact of the trade war, from Port of Long Beach Executive Director
Mario Cordero: “One year into the trade war, escalating tariffs have pushed
retailers to order goods early, warehouses are brimming with inventory as a
result, and in response, ocean carriers are managing their vessels to deal
with reduced demand,” Cord... more »
Trump Brags About Mexico Deal, but Reveals No Details
The president’s dramatic flourish came a day after Mexico’s foreign
minister publicly denied that his country has an undisclosed immigration
agreement with the U.S.
What to Know About the Alabama Chemical Castration Law
Alabama is the latest state to use drugs to try to reduce recidivism among
sex offenders.
Book Reviews & Fundraising Update
We have now raised $6,278. That means we have made the goal of ten reviews
at $5,000 and are $1,722 from the second goal of six reviews. We’re $4,722
from the final goal of a booklet meant to teach how to think better about
society, world events and the future. DONATE OR SUBSCRIBE I want […]
4 Questions Hovering Over the Raytheon-United Technologies Deal to Create a Defense Giant
The two companies say joining forces will be good for America. But
President Trump and antitrust experts worry that the deal could reduce
competition.
Alabama Could Chemically Castrate Some Sex Offenders. Here’s What That Means.
Alabama is the latest state to use drugs to try to reduce recidivism among
sex offenders.
U.S. Demographics: Largest 5-year cohorts, and Ten most Common Ages in 2018
IMPORTANT NOTE: The data below is based on the Census 2018 estimates.
Housing economist Tom Lawler has pointed out some questions about earlier
Census estimates, see: Lawler: "New Long-Term Population Projections Show
Slower Growth than Previous Projections but Are Still Too High"
Five years ago, I wrote: Census Bureau: Largest 5-year Population Cohort is
now the "20 to 24" Age Group.
Note: For the impact on housing, also see: Demographics: Renting vs. Owning
This month the Census Bureau released the population estimates for 2018 by
age, and I've updated the table from the previous... more »
Trump and Biden Get Personal in Iowa Skirmish
President Trump and former Vice President Joseph R. Biden Jr., who
increasingly see each other as political foils, traded attacks as they
traveled to the battleground state.
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