Other News

Washington Fix Unlikely Even As Home Prices Fall

Rep. Dennis Cardoza, a fifth-term Democrat from California’s Central Valley, doesn’t need an economic indicator to describe the state of the housing market. Three cities in his district—Modesto, Stockton and Merced—have foreclosure rates among the ten worst in the country. Seventy percent of Central Valley homeowners are underwater on their […]

Manufacturers Leading Recovery Despite Inflation

Prices for raw materials have skyrocketed but manufacturers are still charging forward. The manufacturing sector has a number of things going for it. The auto and machinery industries are doing quite nicely. Firms are cash rich right now and beginning to hire again. Also, a tax break that comes into […]

Fed Says ‘Inflations Ok’ But Higher Food Prices Strain Citizens

“Can I get the 2 for $3,” said 64-year-old Sarah Cabezas. “It’s 2 for $4 now,” retorted the McDonalds cashier. “What? When did it go up?” the befuddled high school teacher exclaimed. Cabezas’s exclamation was a first-hand account of the sudden but painful pinch of inflation. The Labor Department said […]

Japan Crisis Will Push Down the LEI

The Index of Leading Economic Indicators (LEI) moved up to .08 from .01. However it will falter when March’s LEI is released because of the unexpected rise in oil prices caused by the unrest in the Middle East and especially the crisis in Japan. “The increase of gas prices affects […]

Food and energy prices soar

In the desserts aisle of a bustling Manhattan grocery store, South Carolina natives Nancy and Keith Huffaker place a box of assorted cookies in their shopping basket. They’ve come out to satisfy their after-dinner sweet tooth and though they admit the prices are higher in New York, they don’t believe […]

Payroll Tax Cut Provides High Price Relief

Effects from the payroll tax cut boosted retail sales, offsetting the impact of higher prices of food and gasoline. Purchases for the month of February were $387.1 billion, representing a 1 percent increase from the previous month, and an 8.9 percent increase compared to the previous year. February was the […]

Public Sector Layoffs Add To Unemployment Rolls

Hiring in key areas of the private sector has been bullish, but increasing layoffs in the private sector are still a major headwind to job growth. According to the US Bureau of Labor Statistics, the construction industry, which has been hampered by a weak housing market and bad weather in […]

Trade Deficit Widens due to Unexpected Surge in Imports

The U.S. trade deficit widened by an unexpected 15.1 percent to $46.3 billion in January due to a 5.2 percent jump in imports. Economists surveyed expected a gap of $41.5 billion. Higher purchases of capital goods, industrial supplies and auto pushed imports up to $214.1 billion. Capital goods imports of […]

Feb Jobs Report – Best in 3 years, but no ticker tape just yet…

The Bureau of Labor Statistics announced that the US unemployment rate fell to 8.9 percent, nonfarm payrolls increased by 192,000 and 222,000 private-sector jobs were added. Adding to the good news, the January rate was revised to show an increase of 63,000 jobs, from the previous estimate of 36,000. This […]

With Gas Prices Up, New Auto Sales Follow

U.S. auto sales surged by 27 percent in February, as a hike in oil prices sent consumers shopping for more efficient vehicles. With an annualized sales rate of 12.9 million vehicles, the month was one of industry’s strongest in the past year, and exceeded the predictions of most analysts. The […]