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After A Natural Disaster, Do Landlords Jack Up The Rent?

Via Priceonomics.com, A widely unpopular practice (and illegal in most states), price gouging is when sellers take advantage of a disaster situation to excessively raise prices on essential goods like food, fuel, and shelter. Concern across communities about this problem is especially heightened after the past several months of storms, forest fires, and other disasters. […]


US Manufacturing Shrugs Off Fires, Floods, & Storms In October But ISM Disappoints

Against disappointing China PMIs, US Manufacturing PMI surged back near 2017 highs in October – shrugging off the efects of recent storms, floods, and wildfires – with factory jobs near their best since the financial crisis and gains broadening out to smaller firms too. However, ISM Manufacturing disappointed, falling back from 13 year highs. So […]


Storm-Impacted Retail Sales Disappoint Despite Biggest Spike Since March 2015

Following August's slump (worst since Jan '16), September's retail sales data was expected to surge 1.7% MoM (thanks in large part to the spike in auto sales) but it disappointed with a 1.6% spike (still the most since March 2015). U.S. retail sales jumped last month by the most in more than two years as […]


Vulture Investors Swarm To Houston As Flooded Homes Sell For 40 Cents On The Dollar

      “The time to buy is when after there’s blood water in the streets.” As 1,000’s of families along the Texas shoreline continue to struggle with putting their lives back together following the apocalyptic landfall of Hurricane Harvey roughly 6 weeks ago, vulture investors are increasingly swooping in to exploit their misery with […]


Hurricane Nate Heads For Gulf Coast: Goldman Projects Dramatic Refining Slowdown

Confirming an earlier projection by Accuweather that showed Hurricane Nate will likely make landfall as a cateogry one storm somewhere between Louisiana and the Florida panhandle on Sunday, the NHC has issued a hurricane warning – the highest-priority of the agency's alert levels – for a broad swath of the Southern US stretching from Grand […]


Previewing The September “Hurricane-Disrupted” Jobs Report

Tomorrow’s hurricane-affected September jobs report will be… confusing. That is the (lack of) consensus from Wall Street analysts, who expect an average print of 80,000 (down from the 3-month average of 185K), however with huge variance on either side, with 4 economists predicting a loss of jobs, three expecting a print higher than 150K and […]


Tropical Storm Nate Forms In Caribbean, Threatens Gulf Coast Landfall As Hurricane By Weekend

With just weeks having passed since Hurricane Harvey demolished southern Texas, Hurricane Irma devastated the Florida Keys and Hurricane Maria wiped out Puerto Rico, a new storm, Tropical Storm Nate, has just formed in the Southern Caribbean and looks set to strengthen to a hurricane just before making landfall in the Gulf this weekend.  As […]


Dramatic “Before And After” Photos Show Puerto Rico’s Plunge Into Darkness

It’s been a week since Hurricane Maria made landfall in eastern Puerto Rico, and hundreds of thousands of Puerto Ricans living in remote villages remain cut off from the world, after the storm trashed power grids, tore up roads, downed cell towers and caused a dam in the northwestern part of the island to fail, […]


Dallas Fed Surges Near 10-Year Highs Despite Every Respondent Complaining About Hurricane Damage

If ever there was a reason to completely dismiss the farce that 'soft' survey data is of any use at all, this is it. Having hovered around 17.0 for the last four months, The Dallas Fed Manufacturing Outlook survey spiked to 21.3 in September – just shy of its highest since 2010 – despite the […]


Existing Home Sales Slump To 1-Year Lows, NAR Says “There’s Simply Not Enough Homes For Sale”

After July's housing sales data horrors, yesterday's permits rebound prompted some hope (despite last week's 9.7% collapse in mortgage applications) but August's existing home sales just crushed that dream, dropping to one-year lows. Following a 1.3% MoM decline in July, August saw existing home sales tumble 1.7% MoM (against expectations of a 0.2% rebound) and […]


“I Don’t Have Anything To Start Over” – Harvey Victims Pray For Relief As 1000s Remain Stuck In Shelters

It’s been nearly a month since Hurricane Harvey, a storm that some expect to rank among the costliest natural disasters in US history, and still tens of thousands of Texans remain marooned in temporary housing, unable to return to their flood-damaged homes, while thousands more are struggling to secure hotel rooms and other types of […]


August Industrial Production Crashes Most Since May 2009 – Harvey Scapegoated

Amid a collapse in US auto sales (and slumping retail sales), August Industrial Production collapsed 0.9% MoM. This is the biggest monthly drop since May 2009! Industrial production declined 0.9 percent in August following six consecutive monthly gains.   Annual IP growth also staggered to 6 month lows.. The Fed has its excuse for the […]


Three Reasons Why Retail Sales Are About To Disappoint Bigly

On Friday the Department of Commerce will report August retail sales, a material report which all else equal, may influence whether the Fed proceeds with its plans to unveil balance sheet tapering in its upcoming FOMC meeting. However, as we discussed last week, the report, together with virtually all other high frequency economic reports, will […]


Irma’s Last-Minute Westward Shift May Have Saved Florida $150 Billion In Damages

As it traversed the state of Florida, Hurricane (now tropical depression) Irma left a trail of destruction not seen since Hurricane Andrew hammered the state in 1992. But despite the rising death toll, historic flooding and a ruined power grid that could take weeks to repair, meteorologists say Floridians should consider themselves fortunate. Because it […]


Septembergeddon? 27 Major Disasters Have Already Happened So Far This Month

Authored by Michael Snyder via The Economic Collapse blog, Two major hurricanes, unprecedented earthquake swarms, and wildfires roaring out of control all over the northwest United States – what else will go wrong next? When I originally pointed to the month of September as a critical time, I had no idea that we would see […]