Here is a recent news story: Bibi blasts ceasefire: Israeli PM Asks if U.S. Would Have Ceasefire After Pearl Harbor, 9/11.
What an absurd comparison!
More profoundly, is the analogy between the 9/11 attack and the Pearl Harbor attack, as is often done in America, even valid?
Yes and no!
Today’s Economic Releases Compiled by Steven Hansen, Publisher:
The goods and services deficit was $61.5 billion in September, up $2.9 billion from $58.7 billion in August, revised. September exports were up 4.6% year-over-year inflation-adjusted. September imports were down 0.9% year-over-year inflation-adjusted. The bottom line is that the deficit has been moderation for a year-and-a-half, imports have been declining, while exports have been growing. Economically, it appears the global economy appears to continue growing whilst declining imports generally signal a moderation of US economic growth.
According to the Federal Reserve’s Consumer Credit G-19 release:
Consumer credit increased at a seasonally adjusted annual rate of 0.4 percent during the third quarter. Revolving credit increased at an annual rate of 8.6 percent, while nonrevolving credit decreased at an annual rate of 2.4 percent. In September, consumer credit increased at an annual rate of 2.2 percent.
I extremely dislike the way the Fed headlines consumer credit – as the month-over-month change is too volatile and is misleading. Using their own data, consumer credit expanded 3.5% year-over-year (1.6% year-over-year inflation-adjusted – red line on the graph below). Non-revolving credit expanded at 1.5% year-over-year and revolving credit (mostly credit cards) is up 10.3% year-over-year. No question consumer credit growth is slowing.
Here is a summary of headlines we are reading today:
Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.
Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Valid 00Z Wed Nov 08 2023 – 00Z Fri Nov 10 2023…Cooler temperatures and beneficial precipitation expected through
midweek across the northern tier states……Very warm weather including some record high temperatures can be
expected along with dry conditions for much of the Central and Eastern
U.S. through the middle of the week……Some rain to begin impacting parts of the South by Thursday…
*Stock data, cryptocurrency, and commodity prices at the market closing.
Today’s Economic Releases Compiled by Steven Hansen, Publisher:
No releases today.
Here is a summary of headlines we are reading today:
Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.
Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Mon Nov 06 2023
Valid 12Z Mon Nov 06 2023 – 12Z Wed Nov 08 2023…More unsettled weather expected to bring beneficial precipitation
across the Pacific Northwest and the Northern Rockies over the next couple
of days……Mixed light rain and snow will brush the northern borders of the
Northern Plains to the interior Northeast……Fair and mild weather expected to continue from the southwestern U.S.
to much of the eastern U.S; cool Pacific air arrives over the West
today….
Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Sun Nov 05 2023
Valid 12Z Sun Nov 05 2023 – 12Z Tue Nov 07 2023…Modest atmospheric river activity to bring multiple rounds of
beneficial precipitation across the Pacific Northwest and the Northern
Rockies over the next couple of days……Mixed light rain and snow may brush the northern borders of the
Northern Plains to the interior Northeast through Monday……Fair and mild weather expected to continue from the southwestern U.S.
to much of the eastern U.S; cool Pacific air arrives over the West this
week….
Following Russia’s invasion of Ukraine, Germany is abandoning its intimate relationship with Russia. But when peace eventually returns, Germany may find it difficult to resist returning to the embrace of Russian friendship.
Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Sat Nov 04 2023
Valid 12Z Sat Nov 04 2023 – 12Z Mon Nov 06 2023…Modest atmospheric river activity to bring multiple rounds of
beneficial precipitation across the Pacific Northwest and the Northern
Rockies this weekend into early next week……Most of the country experiences modest warmth this weekend before cool
Pacific air enters through the West…
