Reckless Consumer Borrowing Keeps Recovery Illusion Afloat

ECONODAY: Consumer credit rose a greater-than-expected $20.8 billion in September. Both revolving and non-revolving credit posted sharp gains. Revolving credit which is where credit-card debt is tracked rose a sizable $6.4 billion after increasing $5.5 billion in August. The gain for the non-revolving component, where auto financing and also student loans are tracked, jumped $14.4 billion after $7.6 billion. This report is not about weakness but about strength, at least strength for consumer spending....

The Charlotte Sartre Selma Blair Theory

What's the difference between a thoroughbred race horse and a porn star? When thoroughbred race horses are bred it's all done in public

When porn stars are bred it's all done in secret. You never know what their real name is or who their parents are.

If you liked my Kimmy Granger Stephanie Seymour Theory, then you're gonna love my Charlotte Sartre Selma Blair Theory. Other than a noticeable size difference Kimmy Granger has a strong resemblance to Stephanie Seymour (and Axl Rose). Charlotte Sartre has an uncanny resemblance to Selma Blair, and they both have the exact same hair, face, body type and height (5' 3").

Charlotte Sartre was born December 6, 1994. Selma Blair was born June 23, 1972. When Charlotte was born, Selma was 22 years old. Selma is definitely old enough to be Charlotte's biological mom, and the guy who came up with the idea of turning out daughters of movie stars and supermodels for porn deserves a fucking medal

Retail Sales and Bank Credit Growth

Follow the money...

FRED Data Destroys Myth of Pittsburgh Economic Boom

If Pittsburgh's economy is supposedly booming then why is the local civilian labor force at 1993 levels?

JOLTS Openings - May 2017

CNBC: In a mixed report, employers are finally catching up with their hiring as job openings, at 5.666 million in May, fell back 5.0 percent and hiring, at 5.472 million, shot up 8.3 percent. The hiring total is a new record for this series while job openings are the second lowest of the year. Other movement in this report is a 1 tenth rise in the quits rate to 2.2 percent which hints perhaps at worker confidence and willingness to switch jobs which may be a positive for wage traction...

Reckless Consumer Borrowing Keeps Recovery Illusion Afloat

ECONODAY: Consumer spending has been modest but consumers did run up their credit-card debt in May helping to lift consumer credit outstanding by a larger-than-expected $18.4 billion. Revolving credit, which is where credit cards are tracked, rose $7.4 billion vs only $1.2 billion in April. Nonrevolving credit, where auto financing and student loans are the biggest factors, posted yet another sizable increase of $11.0 billion in May. Credit card debt may not be a plus for long-term consumer health, but it is one for near-term consumer spending and GDP...