Senator Ron Johnson (R, Wis.) commented in advance of the President’s speech on manufacturing and is here to tell President Obama, “the government doesn’t create jobs, it creates debt and it is the private sector that creates long-term, self-sustaining jobs.” Today the President is traveling to Pittsburgh to talk about manufacturing. As a person who spent 31 years building a successful manufacturing company, I am curious what President Obama might say about manufacturing. He has little personal experience in manufacturing or business. He has very few members within his …
June 24th, 2011 | Posted in Breaking News,Economy | Read More »
The latest release of the Moody’s/REAL Commercial Property Index showed a notable monthly decline of 3.7% between March and April suggesting that the nation’s commercial property markets are continuing to slump through a tremendous downturn that has seen prices down some 48.95% since the peak set in October 2007. It’s important to note that the index has fallen to an all time series low clearly indicating that the nation’s CRE markets have now followed the residential markets into double-dip territory. The Moody’s/REAL CPPI data series is produced by the MIT/CRE but is noted to be “complimentary” to their alternative transaction based index (TBI) as it is published monthly and is formulated from a completely different dataset supplied by Real Capital Analytics, Inc and Real Estate Analytics LLC .
June 23rd, 2011 | Posted in Economy,Real Estate | Read More »
Today’s release of the Chicago Federal Reserve National Activity Index (CFNAI) indicated that national economic remained weak in May with the index falling into contraction territory of -0.37 while the three month moving declined to -0.19. The CFNAI is a weighted average of 85 indicators of national economic activity collected into four overall categories of “production and income”, “employment, unemployment and income”, “personal consumption and housing” and “sales, orders and inventories”. The Chicago Fed regards a value of zero for the total index as indicating that the national economy is expanding at its historical trend rate while a negative value indicates below average growth. A value at or below -0.70 for the three month moving average of the national activity index (CFNAI-MA3) indicates that the national economy has either just entered or continues in recession. It’s important to note that at -0.19, the current three month average index value is indicating that contraction may be in the offing.
June 23rd, 2011 | Posted in Economy,Real Estate | Read More »
Today, the U.S. Census Department released its monthly New Residential Home Sales Report for May showing a monthly decline with sales falling 2.15% since April but increasing 13.52% above the level seen a year earlier to a historically low 319K SAAR units. These results, continue to indicate that the nation’s housing markets are firmly entrenched in a double-dip and come fully in-line with the other pitiful housing data-points I have outlined in past months . It’s important to recognize that the inventory of new homes has now fallen to a new series low at 166K units, lowest level seen in in at least 47 years while the median number of months for sale increased to 9.2. The monthly supply declined to 6.2 months while the median selling price declined 3.43% and the average selling price declined a notable 5.23% from the year ago level. The following chart show the extent of sales decline to date (click for full-larger version).
June 23rd, 2011 | Posted in Economy,Real Estate | Read More »
Rep. Michele Bachmann’s Response to President Obama’s State of The Union Address. A Tea Party Express and Tea Party HD Exclusive Directed and Produced by Tony Loiacono. Source: YouTube Select the icon below to share this article on your favorite social site:
June 21st, 2011 | Posted in Opinion,Politics,Video | Read More »
Slavery. According to history, slavery officially ended (in the United States) on December 6, 1865 with the adoption of the Thirteenth Amendment to the United States Constitution. Notwithstanding the non-official and illegal instances of slavery that continued for a period of time after the thirteenth amendment was signed, or in consideration of human trafficking that [...]
June 21st, 2011 | Posted in Featured,Healthcare,Opinion,Politics | Read More »