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What Life Is Like For A Million People In Puerto Rico Who Still Don’t Have Power

Authored by Daisy Luther via The Organic Prepper blog, If you ever wondered what it would look like if the grid collapsed here on the mainland, the island of Puerto Rico is a tragic, real-life case study. These stories show us what life is like for more than a million people who STILL don’t have […]


DiMartino Booth Warns Pressure On US Households Is Intensifying

Authored by Danielle DiMartino Booth, Behind the rosy economic headlines, consumer stresses have continued to build and are likely to worsen… Is the U.S. economy enjoying a honeymoon, or is this merely a hiatus? Although this isn’t a subject of discussion among most economists, there will be both good and bad associated with three hurricanes […]


What We Can Expect For Gold Prices in the Wake of the Hurricane Season

The recent spate of back-to-back hurricanes in the US is expected to compound the economic damage of an already over-extended debt. As the stock market braces for a correction, traders are inclined to sell out of riskier stock markets and take refuge in safe havens like gold. Although it will take months for the impact […]


JOLTS: Hiring Slides To Lowest In 6 Months As Job Openings Remain Near All Time High

After a burst of record high job openings which started in June and eased modestly in August, today’s September JOLTS report  – Janet Yellen’s favorite labor market indicator – showed another modest increase in job openings across most categories in the hurricane-affected month, with the total number rising fractionally 6.090MM to 6.093MM, above the 6.091MM […]


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 […]


ADP Private Payrolls Highest Since March: Jump 235K In Post-Hurricane Rebound

Following September’s big hurricane-precipitated slowdown in the labor market, moments ago ADP reported that in September private payrolls rebounded from a downward revised 110K (from 135K), which was still significantly higher than the BLS’ own negative print, to 235K beating expectations of a 200K print (which emerged from a decided wide range of estimates, from […]


FBI Is Probing Puerto Rico’s $300 Million Power Contract With Whitefish Energy

Just a day after Puerto Rico's cash-strapped power authority on Sunday canceled its controversial $300 million contract with Whitefish Energy, a small Montana company tasked with rebuilding the island's power grid after it was completely destroyed by Hurricanes Maria and Irma, the WSJ is reporting that the FBI is looking into the circumstances surrounding the […]


What Americans Spent The Most Money On In The Third Quarter

One quarter after Americans unexpectedly spluged on recreational vehicles (and, more predictably, healthcare) US spending has returned to a more normal pattern in Q3. As we hinted at the end of August in “Harvey’s Destruction May Have Solved The Auto Industry’s Inventory Problem“, whether due to hurricanes or not, according to the BEA, which admitted […]


US Economy Unexpectedly Grew At 3.0% In Q3 As BEA Ignores Impact Of Hurricanes Harvey, Irma

In the immediate aftermath of Hurricanes Harvey and Irma, Wall Street quickly trimmed its Q3 GDP forecasts from 3.0% to the low/mid 1% range, expecting a substantial, if brief, adverse impact on US growth from the storm devastation. However, moments ago the BEA surprised everyone when it reported that in its first estimate of third […]


“God Is All I Have” – One Month In, Puerto Ricans Fight For Survival Amid Sluggish Recovery

A day after President Donald Trump gave his administration’s Puerto Rico response a “10 out of 10” during a White House meeting with the island’s Gov. Riccardo Rossello, a handful of media outlets are reporting that, one month after Maria first made landfall in southeastern Puerto Rico, many villages still don’t have access to electricity, […]


Initial Jobless Claims Crash To Lowest Since 1973

So much for the hurricane distortions of the US labor market… Just a few short weeks after initial unemployment claims jumped in the aftermath of Hurricanes Harvey and Irma, in the latest week the DOL reported that filings for unemployment benefits tumbled to the lowest level in 45 years, or since 1973, as all those […]


US Industrial Production Data Dashes ‘Survey-Driven’ Hopes Of Manufacturing Renaissance

Following August's storm-driven collapse in Industrial Production (-0.9%, worst since May'09), September was due for a bounce back and it did but only meeting expectations with a 0.3% rise on a surge in Utilities. However, aggregate industrial production for US remains 2% below its 2014 peak… Manufacturing Surveys have all been soaring heading into today's […]


House Passes $37 Billion Disaster-Aid Package

Disaster victims in Puerto Rico, Texas and Florida can breath a sigh of relief. A piece of legislation authorizing $36.5 billion in aid for communities affected by recent hurricanes and wildfires easily passed the House on Thursday, despite some conservatives' concerns about the growing cost of disaster relief as wildfires raging in California – expected […]


Florida’s Farmers Produce Smallest Orange Harvest Since WWII After Irma Wiped Out Half Of Crops

Hurricane Irma wiped out nearly 50% of Florida’s iconic orange crop when it buffeted the state with 160 mph winds and a massive storm surge last month, sending orange concentrate futures rocketing higher and stoking speculation that the state’s embattled orange growers – already struggling to fend off a worsening “greening” epidemic that’s constrained production […]


How Vulnerable Is The Electrical Grid?

Authored by Kurt Cobb via OilPrice.com, When the electricity stops in modern civilization, pretty much everything else stops. Not even gasoline-powered vehicles can get far before they are obliged to seek a fill-up – which they cannot get because gas pumps rely on electricity to operate. When I wrote "The storms are only going to get […]