Economics

[Sprout]

Starting around 1968 the Social Security surplus was brought "on budget" and counted as an asset, which reduced the federal deficit.

It was taken "off budget" again in 1983.
Then it was "on budget" starting in 1985, but only for deficit calculations.
Then it was fully "off budget" starting in 1990.

Not to be confused with the Medicare Trust Fund, which is "on budget" and reduces the deficit on paper.

Often an administration will present deficit numbers with the surpluses "on budget."
I believe Clinton ran a small deficit with the Social Security surplus "off budget"
and a surplus with the Social Security surplus "on budget."

https://www.ssa.gov/history/BudgetTreatment.html

Basically every administration cooks the books to some extent.

[TonyM]

US manufacturing saw a stronger than expected October.
http://www.businessinsider.com/ism-m...r-2016-2016-11

[lonewolfinoregon]

US manufacturing saw a stronger than expected October.
http://www.businessinsider.com/ism-m...r-2016-2016-11

Yep keep peddling your propaganda, as soon as Trump wins, and when all of sudden the real economic news comes out, you will be running full tilt blaming Trump for the collapse....

[Oscar Wilde]

http://www.businessinsider.com/ism-m...r-2016-2016-11

"US manufacturing saw a stronger than expected October". Fabulous, this is absolutely ... what? What exactly means "stronger"?


"The index is based on a survey of purchasing managers." Hmmn, a survey. Surveys can be good ....

"Respondents mostly had positive comments. One noted a "very favorable outlook in the market," while another reported that "business is much better."
Mostly positive? Well, this is good too ... gotta remain positive.

"A respondent in the petroleum and coal products sector added that it's "hard to predict oil price dynamics, but there seems to be a consensus that the market is stabilizing, " Predictions, consensus? Definite, comprehensive milestones.

The peculiar thing 'bout language, English any who, is ya can say a whole bunch with just a few words or, as demonstrated in this article, little to nothing with a whole slew ... No worries eh?

O.W.

[lonewolfinoregon]

http://www.businessinsider.com/ism-m...r-2016-2016-11

"US manufacturing saw a stronger than expected October". Fabulous, this is absolutely ... what? What exactly means "stronger"?


"The index is based on a survey of purchasing managers." Hmmn, a survey. Surveys can be good ....

"Respondents mostly had positive comments. One noted a "very favorable outlook in the market," while another reported that "business is much better."
Mostly positive? Well, this is good too ... gotta remain positive.

"A respondent in the petroleum and coal products sector added that it's "hard to predict oil price dynamics, but there seems to be a consensus that the market is stabilizing, " Predictions, consensus? Definite, comprehensive milestones.

The peculiar thing 'bout language, English any who, is ya can say a whole bunch with just a few words or, as demonstrated in this article, little to nothing with a whole slew ... No worries eh?

O.W.

IE---Total propaganda HIT PIECE!!!!!!

[Pastor Guest]

Yep keep peddling your propaganda, as soon as Trump wins, and when all of sudden the real economic news comes out, you will be running full tilt blaming Trump for the collapse....

Not only will the truth about the present state of the economy come out if Trump is elected, but I believe the sore losers will do all they can to collapse the economy completely. I can hear it now, "It's Trumps fault!"

[Rhodie]

Yes they did, but the dealers lots are full to overflowing and with very few buyers out shopping.

You can goose the supply, but if the demand isn't there what have you got?

Excess inventory, and that causes it's own problems.

Econ 101, read up!

Rhodie

[lonewolfinoregon]

Not only will the truth about the present state of the economy come out if Trump is elected, but I believe the sore losers will do all they can to collapse the economy completely. I can hear it now, "It's Trumps fault!"

Yep the ECB, several British banks have been warning the USA will see a financial collapse if Trump wins, IE punish USA for not electing their pick...

To me that is a direct threat against the USA by foreign agents...

Trumps threat to bomb bomb bomb away does now make since....

[TonyM]

Lots of econ news this morning

VERY strong cap goods all across the board.
Initial claims ok.
Interest rates spiking after strong data
Gold's falling.

US Initial Jobless Claims 19-Nov: 251K (est 250K; rev prev 233K)
-Continuing Jobless Claims 12-Nov: 2043K (est 2030K; rev prev 1983K)

US Durable Goods (MoM) Oct P: 4.80% (est 1.50%; rev prev 0.40%)
-Ex-Transport (MoM) Oct P: 1.00% (est 0.20%; rev prev 0.20%)
US Durables Ex-Defence (MoM) Oct P: 5.20% (rev prev 1.40%)
-Nondef Cap Ex-Air (MoM) Oct P: 0.40% (est 0.40%; rev prev -1.40%)
https://www.bloomberg.com/news/artic...h-in-last-five


Still to come
FHFA House Price Index
8:00 AM
US House Price Index (MoM) Sep: 0.6% (prev 0.70%)
-House Price Index (YoY) Sep: 6.1% (prev 6.40%)

PMI Manufacturing Index Flash
8:45 AM

Bloomberg Consumer Comfort Index
8:45 AM

New Home Sales
9:00 AM

Consumer Sentiment
9:00 AM

EIA Petroleum Status Report
9:30 AM

[TonyM]

US manufacturing rises strongly

https://www.markiteconomics.com/Surv...664489c45eb6e0