Mike Shedlock

Contributor since: 26 Feb 2010

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• Massive Jump in New Home Sales, 17-Sigma Event

  Published 24 May 2016 | viewed 0 times

  New home sales surprised in a massive way this morning, blowing out all estimates to the high side. New home sales came in at 619,000…

• Despite 'Bazookas', Eurozone Composite PMI at 16-Month Low

  Published 23 May 2016 | viewed 0 times

  Markit reported on three key manufacturing surveys today: Japan, US, and Eurozone. This article puts a spotlight on the Eurozone report in the wake of…

• Chicago Pension Liabilities Jump 168%, Understated by $11.5 Billion

  Published 19 May 2016 | viewed 0 times

  New accounting rules show Chicago has understated its pension liabilities by $11.5 billion. At the end of 2015 the stated liability was $7.1 billion. Today…

• Hikes Data Dependent Says NY Fed: So, Let's Look at the Data

  Published 19 May 2016 | viewed 0 times

  Economic Snapshot Yesterday, Fed minutes show that Fed Chair Janet Yellen is on a mission to convince the market that a rate hike is on…

• New Nothingness: Central Banks are Powerless 'They Should Go Away' Steen Jakobsen

  Published 19 May 2016 | viewed 0 times

  In a "Trading Floor" interview, Saxo Bank CIO and chief economist Steen Jakobsen, discusses the role of central banks in the global economy with Saxo…

• Saudi Arabia Delays Payment to Contractors, Considers IOUs: Liquidity Crunch at Best

  Published 18 May 2016 | viewed 0 times

  Liquidity Crunch or Worse Saudi Arabia burnt through its reserves faster than anyone thought. In signs of a huge liquidity crunch, at best, the country…

• More Obama Job Distortions Coming Up: Overtime Pay Threshold Doubled

  Published 18 May 2016 | viewed 0 times

  Not satisfied with economic distortions resulting from the redefinition of full-time employment to 30 hours for Obamacare purposes but 32 hours for every other purpose,…

• Ex-Google Engineers Launch 'Otto': Completely Driverless Truck Testing Underway

  Published 17 May 2016 | viewed 0 times

  Movement in the autonomous vehicle space accelerated once again. Four ex-Google engineers, including the man who built Google's first self-driving car, announced "Otto", an autonomous…

• Treasury Department Finally Discloses Saudi Treasury Holdings - Incorrectly?

  Published 16 May 2016 | viewed 0 times

  Under a freedom of information request, the Treasury department disclosed Saudi Arabia's treasury holdings as $116.8 billion. Last month, Saudi Arabia threatened to dump $750…

• Abenomics: So Much Effort, So Little Results

  Published 16 May 2016 | viewed 0 times

  Abenomics Recap Record Japanese stimulus coupled with negative rates yield produced no inflation, a flat stock market, a strengthening Yen, falling exports, and a slowdown…

• Reader Asks 'What Will Happen When Robots Take Our Jobs'

  Published 14 May 2016 | viewed 0 times

  Reader Peter is concerned about the future of jobs, living wages, and displaced workers in a robotic society. Specifically, Peter asks "how do you think…

• Atlanta Fed GDPNow +2.8% vs. New York Fed Nowcast +1.2%

  Published 13 May 2016 | viewed 0 times

  Following today's retail sales alleged blowout, to which treasury yields actually declined, comes a big GDP upgrade by the Atlanta Fed GDPNow Model vs. a…

• Retail Irony: Sales Jump 1.3%, Treasuries Rally

  Published 13 May 2016 | viewed 0 times

  Retail sales jumped 1.3% in April following yesterday's miserable stew of retail sales reports. Last evening ZeroHedge sarcastically tweeted He was correct. For the second…

• Law Firm Hires 'Ross' An Artificial Intelligence Lawyer

  Published 12 May 2016 | viewed 0 times

  The future of legal research assistance lawyers is zero. The job will soon vanish for all practical purposes. Futurism reports "Ross, the world's first artificially…

• Middle Class Shrinks in 203 of 229 Metropolitan Areas

  Published 12 May 2016 | viewed 0 times

  Hollowing Out of America's Middle Class Since 2000, the percentage of America's middle class fell in nearly 90% of the nations 229 metropolitan areas according…

• Jobs: How Good are the Jobs the Economy is Creating?

  Published 11 May 2016 | viewed 0 times

  The Wall Street Journal has an interesting report on the jobs created since the recession. The article takes a close look at employment and wage…

• 'Safe Haven' Lives On

  Published 10 May 2016 | viewed 0 times

  On April 4, I received an email from my friend Bruce Stratton at SafeHaven.Com informing me that on April 24 he was calling it quits…

• Political Price for Supporting Merkel: Austria's Chancellor Resigns, Calls for 'New Start'

  Published 09 May 2016 | viewed 0 times

  Shockwaves On April 25, Austria's far-right, anti-immigration platform FPÖ Freedom party picked up over 35% of the vote in the first round of national elections.…

• Jobs Rise Less than Expected 160K; Employed -316K, Fulltime Employment -196K

  Published 06 May 2016 | viewed 0 times

  Initial Reaction Today's employment report shows an increase of 160,000 jobs, well under the Bloomberg Econoday consensus estimate of 200,000 jobs and below the entire…

• About Those Record Auto Sales: Let's Communicate!

  Published 05 May 2016 | viewed 0 times

  On May 3, industry analysts are pumped up April 2016 to be the best April in history for car sales. Some analysts expect record sales…