Recent Tweets that caught my eye: Surging housing supply in select cities, China’s massive shipbuilding, mainstream media deathbed, strangely rising mortgage refis, and how to rescue a hedgehog.
Weapons to Ukraine
Blinken urges Biden administration to allow Ukraine to use US weapons to attack Russia
— S p r i n t e r F a c t o r y (@Sprinterfactory) May 23, 2024
NYT pic.twitter.com/dzqvxA6oz7
Is Blinkin itching for WWIII?
Mainstream Media Deathbed
— Nick Kapur (@nick_kapur) May 22, 2024The median age of an MSNBC viewer is 70 years old.
Fox News is 69, and even MTV is 51 years old.
Let me repeat, these are *medians*! pic.twitter.com/6qGdem5F67
Fast Food Prices
Fast food prices are soaring… pic.twitter.com/cXyneK9t1J
— Peter Mallouk (@PeterMallouk) May 21, 2024
Give Credit to Biden
— Mike “Mish” Shedlock (@MishGEA) May 17, 2024Give Credit to Biden@EnergyPhilFlynn
I give Biden full credit for the inflation his ridiculous environmental policies and regulations have caused. https://t.co/ri72mCzcun https://t.co/Oqd8nQSaFF
How to Rescue a Hedgehog
For those who say I only post negative news, here’s a great story. If you like this, I will post more in my Weekend Tweet articles.
This girl rescue a newborn hedgehog and raised it in her house ❤️ pic.twitter.com/zN1PSkGeU5
— Nature is Amazing ☘️ (@AMAZlNGNATURE) May 21, 2024
Not Just Bankruptcies, Liquidations Are Rising
“We’re not just seeing bankruptcies and restructurings – we’re seeing liquidations…that means somebody is unemployed overnight. That is a huge difference compared to a Silicon Valley layoff circa 2023 with 9 months of severance…”https://t.co/eK3q056rum
— Danielle DiMartino Booth (@DiMartinoBooth) May 23, 2024
Massive Homebuilder Supply in Some Cities
— Nick Gerli (@nickgerli1) May 23, 2024Massive builder supply pipeline about to hit the US Housing Market in 2024/2025.
Especially in these cities. Areas like Houston/Dallas/Phoenix.
Where the permits are off the charts.
Access building permit data for your state/metro/county on Reventure App:… pic.twitter.com/2LSXMm912u
Rising Inventory
— Piker (@PikerCapital) May 25, 2024Active listings on https://t.co/DKvFG62Ne5 have risen by almost 40% YoY.
We are still roughly 30-40% below 2019 levels, but supply is definitely starting to hit the market in a big way. pic.twitter.com/T4bCWhemoO
Child Trafficking
— Robby Starbuck (@robbystarbuck) May 23, 2024The Biden Admin’s desperate plot to remove the Guatemalan Attorney General just got more insane. Remember, she’s investigating child trafficking at the US border and how the Biden Admin may be involved.
Rep. @WarrenDavidson exposed a tactic the Biden admin is using that involves… pic.twitter.com/icbesCuTlK
Shipbuilding
Yicai: “China’s shipbuilding orders reached 24.1 million deadweight tons in the three months ended March 31, accounting for nearly 70 percent of the global total.”https://t.co/1RK58oTnLf
— Michael Pettis (@michaelxpettis) May 22, 2024
China’s international shipbuilding industry and expansive merchant marine, combined with its growing navy, pose a comprehensive threat to American security. America must rebuild its maritime sector, write @michaelgwaltz and @SenMarkKelly https://t.co/J5cBaRN9hh
— Wall Street Journal Opinion (@WSJopinion) May 25, 2024
The Wall Street Journal is constantly in support of more military spending everywhere. Not once do any of these writers ever say how they propose to pay for anything.
Worse Off Than a Year Ago?
— Mike “Mish” Shedlock (@MishGEA) May 22, 2024Fed Consumer Survey: Are You Worse Off Than a Year Ago?
7 chartshttps://t.co/FXDqEz5OUL
Adam’s chart was from WSJ. My charts were from a Fed survey.
Expect More Inflation
‘A reshoring of U.S. manufacturing with more expensive domestic labor could lead to higher goods prices and ultimately a more sustained trend of higher inflation all else equal.’ https://t.co/F0Uhrcweck pic.twitter.com/ru2J5lO9wM
— Jesse Felder (@jessefelder) May 20, 2024
Mortgage Refis Rising
People tapping into their home equity at terrible interest rates, once their credit cards are maxed out? https://t.co/PmR6oOOocF
— Marcel (@artimidore) May 22, 2024
Refis Rising From Low Levels
— Marcel (@artimidore) May 22, 2024You’re now contextualizing it in the period of the highest levels of refis in history. Interest rates had never been lower throughout that period and everyone with a mtg was refinancing
That it’s heading up again now with the highest rates in 20 years shouldn’t just be dismissed https://t.co/ahllwSgi8I
“That it’s heading up again now with the highest rates in 20 years shouldn’t just be dismissed.”
I agree with the above comment. In absolute terms, refis are at a very low level. But why are they rising at all? People are taking a 3 percent mortgage and refinancing for a 7 percent mortgage.
Q: Why?
A: Consumer stress to pay bills is high and rising.
New Home Sales Sink 4.7 Percent on Top of Huge Negative Revisions
New Home Sales plunged. And the Census Department completely revised away last month’s fictional 8.8 percent rise.
For discussion, please seeNew Home Sales Sink 4.7 Percent on Top of Huge Negative Revisions
Expect Big Negative Revisions to BLS Monthly Jobs in 2023
On April 24, the BLS released a little-read jobs report that shows reported jobs in 2023 may be wildly overstated. In turn, that means GDP is likely overstated as well.
For discussion, please seeExpect Big Negative Revisions to BLS Monthly Jobs in 2023, GDP Too
Consistently large negative revisions are the hallmark of recessions.
Homebuilders Have the Most Inventory Since May 2008
Speculative building, measured by started but unsold housing inventory, is at the highest level since May of 2008. To unload these units, builders will have to offer steep discounts.
For discussion, please see Homebuilders Have the Most Inventory Since May 2008, Big Discounts Coming
On the brighter side, we know how to rescue a hedgehog.
This post originated on MishTalk.Com
