The revised GDP number: pure fiction

The GDP number was revised upwards from 0.6% growth to 0.9% growth. However, what is most interesting is the GDP implicit price deflator. This is the index number the BEA uses to get from nominal GDP to real GDP, the inflation-adjusted…

Case-Shiller Time Machine

I was just reviewing the Case-Shiller local metropolitan indices and saw that as the decline gets steeper, each of the 20 markets is reverting back to price levels 3 and 4 years in the past. So, here's what I have on each metro area as of…

Round-Up: 30 May 2008

Double, double, oil and trouble Thursday, May 29, 2008 9:41 AM Is it 'peak oil' or a speculative bubble? Neither, really. AFTER oil hit its recent record of $135 a barrel, consumers and politicians started to lash out in every direction.…

The Dollar

The U.S. Dollar (USD) seems to have stabilized against most major floating currencies. This includes the British Pound, The Euro, The Canadian, Aussie and New Zealand Dollar, the Swiss Franc and the Japanese Yen. However, many market…

New Writedown Risk: Alt-A

The bloggers over at Calculated Risk have reported on a story making the rounds in the Internet. This story involves S&P's downgrade of Alt-A Residential Mortgage Backed Securities (RMBSs). The crux of the matter is that S&P…

UK housing prices down a record

MarketWatch is reporting today that Nationwide has said that UK home prices are down a record amount.House prices fell for the seventh consecutive month, dropping 2.5% from April, and were 4.4% lower than they were in May 2007, Nationwide…

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