Weekly Highlights 27 May 2011

This is the table that accompanies the weekly economic review article at Global Economic Intersection:  Terrible Data Week: Is Inflation the Cause?

Weekly Economic Release Scorecard:

Item Headline Analysis
Consumer Metrics
Rick Davis shows the deviation between Main Street and GDP.
UM Consumer Sentiment
Doug Short technically reviews this unexpected improvement
April PCE
Considering inflation and population growth – data is flat to negative
April Pending Home Sales
Seriously terrible data – there is no way to spin this 26% decline as good
1Q2011 GDP
Rick Davis sees growing consumer headwinds
Initial Unemployment Claims
What effect does the lower stimulus of the economy effect initial unemployment claims?
1Q2011 GDP
Doug Short joins me in breaking down 1Q2011 GDP
Short Sales
Up 25%
CoreLogic says it causes headwinds for stabilizing home prices
Wines In China

Elliott Morss describes the snob appeal of Bordeaux
April Durable Goods
Durable goods sales had an outright contraction YoY
April New Home Sales
Maybe up, but the data is so terrible you cannot dress up this ugly pig
May Auto Sales
John Lounsbury puts car sales into perspective
Mortgage Delinquencies

Keith Jurow charts out growing homeowner serious deliquencies which can only end in foreclosure
Shows the economy was still expanding but less good MoM in April
Obesity and Health Care Costs

Elliott Morss looks for investment opportunities
Consumer Metrics

Rick Davis shares graphically the terrible state of the consumer
China & Germany

Dirk Ehnts shows how the big exporters’ imbalances are growing again
Eurozone Banking Crisis

Clive Corcoran describes the current crisis as alternatively national and European
Identifying THE current economic problem

Frank Li is hitting hard at American politics which he claims is “cancerous”
Reinventing the Economy

Rick Davis’ current essay installment on getting a recovery going on Main Street
Homeowner Association Foreclosures

Kieth Jurow lists of a litany of abuses by Homeowner’s Associations
Oil vs S&P 500

Albertarocks illuminates graphically how poorly stocks have done vs. commodities

Eric McCurdy believes a commodity correction is likely