personal spending

Income Revisions Ironically Detect The BOND ROUT!!! But Not The LABOR SHORTAGE!!!

By |2019-07-29T18:01:16-04:00July 29th, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Chairman Powell’s hawkishness, so called, has made its way into the historical revisions for Personal Income estimates. The Bureau of Economic Analysis (BEA) released today the annual benchmark revisions to NIPA, the National Income and Product Accounts, which apply to Personal Income and Personal Spending. We’ve already seen the results for GDP and underlying data [...]

Incomes And The R-word

By |2019-04-29T18:16:34-04:00April 29th, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The easy answer for “muted” inflation is consumers. Forget the unemployment rate debate. Let’s assume that labor markets are tight. Workers are scarce and companies have to compete, and pay up, to secure labor. Input costs are rising. That doesn’t necessarily guarantee an accelerating CPI or PCE Deflator. There is a final step in the [...]

A First Look At Why Greater Demand For Scapegoats Than Rate Cuts

By |2019-04-01T16:55:18-04:00April 1st, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

At the end of last week, the Bureau of Economic Analysis reported data on US Personal Income and Spending that hit every sour note. There was the lowest inflation rate, the deflator to those spending figures, in years as well as the clear need to officially anoint a successor to the Verizon madness. The release [...]