May 2017 Pending Home Sales Seasonally Adjusted Index Declines For the Third Month


Written by Steven Hansen

The National Association of Realtors (NAR) seasonally adjusted pending home sales index declined. Our analysis is mixed. The quote of the day from this NAR release:

... Monthly closings have recently been oscillating back and forth, but this third consecutive decline in contract activity implies a possible topping off in sales ...

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What We Read Today 27 June 2017

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary 'reading list' which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for 'reading list' items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).


Every day most of this column ("What We Read Today") is available only to GEI members.

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 more features, analysis, studies, and news published in the last week

Globalists, Nationalists And Patriots


-- this post authored by Reva Goujon

In times of global angst, we tend to organize ourselves into rival camps and casually hurl political epithets at each other as a matter of practice and principle. A couple of similarly angst-ridden generations ago, identifying yourself as a communist or capitalist could provide you with a medal or land you in jail, depending on where you were in the world and the company you kept. Now, it is self-proclaimed globalists and nationalists who are pitted against each other in a battle to passionately defend or radically reconstruct the global order.

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Infographic Of The Day: Fire Safety

Most fires in the home can be prevented. It's good advice to know the risks around your home and take steps to minimise them. Although many parts of fire prevention guides are common sense, we're often too busy with our daily lives to make sure we have a few things in place to help reduce the risks of fire. However, a little time planning and checking can save lives, because fire kills.

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Video of the Day:

A meteorite, which landed in Holland could help scientists understand the origin of the solar system.

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Current Weather Outlook

Written by

It is three weeks out, but the models are suggesting that the 8 - 14 Day Period will create the conditions for the Southwest Monsoon to commence the following week but a bit displaced initially to the east. This week may see some relief from the heat which will return the following week but this time impacting the Northern Plains and points east.

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28Jun2017 Pre-Market Commentary: Wall Street To Open Higher, Crude Prices Holding Ahead Of Inventory Reports, Investors Watching The Bank Stress Tests Closely, US Dollar Remains Under Pressure

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Debts That Can't Be Paid, Won't Be

by Michael Hudson, New Economic Perspectives

This is a Classic Essay First Posted 10 April 2012

A common denominator runs throughout recorded history: a rising proportion of debts cannot be paid. Adam Smith remarked that no government ever had repaid its debt, and today the same can be said of the overall volume of private-sector debt. One way or another, there will be defaults - unless debts are paid in an illusory fashion, simply by adding the interest charges onto the debt balance until the sums finally grow to so fictitious a magnitude that the illusion of viability has to be dropped.


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 USA economy at a glance (boxed items are updates in last 7 days)

June 2017 Conference Board Consumer Confidence Down, Remains Optimistic

Written by Jill Mislinski

The latest Conference Board Consumer Confidence Index was released this morning based on data collected through June 15. The headline number of 118.9 was an increase from the final reading of 117.6 for May, a downward revision from 117.9. Today's number was above the consensus of 116.0.

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