Wholesale Inventories (July) Inventories month/month were +0.8%. This bit of data reflects the fact that we saw that increase in discretionary consumer spending in the Consumer Metrics data of early July. At the open, markets did not react positively to the President’s jobs speech. My own humble opinion is that most folks realize that the
Barack Obama
Today’s Originations links are dedicated to jobs, Obama’s jobs speech this Thursday 9/8, and the politicizing of jobs. -Regs & Taxes Not Killing Small Business, Owners Say (McLatchy) -Obama’s Jobs Speech To Conflict With NFL Opener (ESPN) -What Can Obama Do To Create Jobs? (WashingtonPost) -Obama: Jobs At Risk In ‘Gamesmanship’ (Bloomberg) -8 in 10
The debate about government’s role in the mortgage biz continues. President Obama has concluded that the government will have to play a major role in the mortgage market going forward. Fannie and Freddie would probably be preserved under the White House plan although with different names and under different constraints, operating more as utilities. And
This Economist photo sums up the mood in Washington well, and the article sums up the debt debate well.
This Economist photo sums up the mood in Washington well, and the article sums up the debt debate well.
Sunday I noted that rates may rise slightly this week as a U.S. debt ceiling deal comes closer, and today’s links are on this theme. I don’t see a spike since economic data aren’t likely to show meaningful recovery, but mortgage bonds will likely lose ground as stocks rally on optimism about a fiscal deal
Rates were down slightly last week but there’s reason for caution coming into this week: there’s no deal yet on U.S. budget proposals and until there’s a budget agreement, the U.S. debt ceiling won’t be raised. The U.S. will reach its borrowing limit August 2, but it takes time to process legislation and money flows
Rates were down slightly last week but there’s reason for caution coming into this week: there’s no deal yet on U.S. budget proposals and until there’s a budget agreement, the U.S. debt ceiling won’t be raised. The U.S. will reach its borrowing limit August 2, but it takes time to process legislation and money flows
We’re in the final countdown for a debt ceiling deal. Beltway pressures are high as politicians passionately belt out their tax hike budget cut lyrics to excitable constituents. So this installment of bTunes is The Final Countdown from cheese metal gods Europe. Because if we can’t agree on America’s budget war, we can agree that
I am smart enough to realize that I am not smart enough to know, “Why the focus is more on the debt ceiling than on actually reducing our deficit?” To me, it seems like an artificial waste of time and energy—raising the debt ceiling has happened 10 times since 2001, and our government spends a
Dealbreaker wins best headline in today’s links for the Curb Your Enthusiasm reference. First two links have rate outlooks. StockSage’s rate comments are on his first chart. -Why I Blog & Most Important Charts Today (StockSage) -7 Day Rate Predictions, June 2-9 (TheMortgageReports) -Double Dip: Altos Says Prices Rising Steadily Since Then (DSNews) -Dems Urge
Today is a proud and emotional day. I salute the families of 9/11 victims, our military, first responders, and our commander in chief for living and dying by the American way of life.
Today links include more consumer-focused interpretations of the Fed’s new risk retention rules for mortgage securitization. If you only read one link today, read Kid Dynamite on the topic. -Mansion Linked To ‘The Great Gatsby’ Demolished (Reuters via tip from DB!) -Onion or Reuters: Protecting Borrowers From Lenders (Kid Dynamite) -Leader of Big Mortgage Lender
Awhile back I wrote that if Barry Ritholtz was a rapper, he’d be Gift of Gab from Blackalicious. His retort was that he’s all 3 Beastie Boys. I can dig that: the dude’s “got more stories than JD’s got Salinger.” So kicking off today with an inflation story originated on his blog—context for today’s PPI
Obama is presenting his fiscal policy in a speech now. Below is the full text, and here’s a notable excerpt about the composition of our budget: “Around two-thirds of our budget is spent on Medicare, Medicaid, Social Security, and national security. Programs like unemployment insurance, student loans, veterans’ benefits, and tax credits for working families
Even with today’s rebel victory, political chatter is red hot since the UN authorized a coalition of nations last week to bomb Libya in order to protect citizens there from their own leader. Should Western nations even be involved? Can you enforce the UN resolution without occupying the country long-term? Which coalition country should be
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