Mikhail Gorbachev just passed away (Mikhail Gorbachev, Soviet leader who ended Cold War, dies at 91). Hailed as a hero in America, he will eventually be, if not already has been, regarded as a traitor in Russia. In contrast. China’s Deng Xiaoping has proven to be the greatest peaceful transformation leader in human history!
What, then, is the relationship between Gorbachev and Deng?
In June, the CoreLogic S&P Case-Shiller Index posted an 18% increase, down from a 19.9% gain in May, marking the third month of slower home price growth and decided reversal toward long-run rate of about 5%. Housing market activity cooled markedly since the June’s surge in mortgage rates leading to widespread slowing of home price growth and rising concerns over potential home price declines in the future.
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These and other headlines and news summaries moving the markets today are included below.
...Slight to enhanced risk of severe thunderstorms across parts of the Midwest tonight... ...Slight risk of excessive rainfall for parts of the Southern Plains and Lower Mississippi Valley tonight... ...Record heat likely to build into parts of the West this week..
A summary of headlines we are reading today:
These and other headlines and news summaries moving the markets today are included below.
...Slight risk of severe thunderstorms across the Upper Mississippi Valley into early this evening... ...Showers and thunderstorms likely across the Midwest and the Gulf Coast/Florida... ...Warming trend begins for the Northwest and the Ohio Valley/Northeast...
...Slight risks of excessive rainfall and severe thunderstorms are in effect for parts of the Upper Midwest tonight... ...Localized heavy to excessive rainfall possible across parts of the Southeast/Gulf Coast and the Southwest... ...Warming trend begins for Northwest and Northeast...
NOAA updates many of their weather outlooks and in many cases issues a discussion with those outlooks. On Fridays, they issue a week 3 – 4 outlook which is farther out than the typical 10-day forecast and the discussion is excellent. So we have decided to issue a weekly special report on Fridays which for most people will be read on Saturday as it gets published late Friday night.
When the Week 3-4 Outlook is issued, we have a 28-day view of the future. It is important to recognize that the forecasts do not always work out as predicted. But in the article, there are links to obtain updated forecasts.
...There is a Slight Risk of excessive rainfall over parts of the Lower Mississippi Valley/Central Gulf Coast through Saturday morning... ...There is a Slight Risk of severe thunderstorms over parts of the Northeast through Saturday morning... ...Increasing fire weather risk over parts of the Great Basin, Northern Intermountain Region, and Northern Rockies...
Real (inflation-adjusted) disposable personal income increased 0.3% in July 2022 and real personal consumption expenditures increased 0.2%. We are not a fan of looking at month-over-month changes are the volatility is misleading. The year-over-year inflation-adjusted data shows personal consumption expenditures increased 2.2% (and this increase has been relatively steady for the last 5 months) whilst disposable personal income declined 3.7% (and has been in negative territory all of 2022).
A summary of headlines we are reading today:
These and other headlines and news summaries moving the markets today are included below.
