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Jobless Claims Spike As Bidenomics Reality Sets In, Existing Home Sales Drop As Mortgage Rates Rise

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It’s no secret anymore – the Biden economy is slowing rapidly. The Left will say it’s from Omicron.

We say it’s from communist policies.

Jobless Claims spiked this morning. Existing Home Sales dropped, as more and more data points showing stagflation emerge.

Financial markets are recovering this morning as dumb money BTFD.

However, gold is rising. This is the canary in the hyperinflation coal mine.


Continuing Jobless Claims (Jan 7) printed at 1.635M vs 1.58M consensus estimate.

Initial Jobless Claims (Jan 14) printed at 286k vs 220k estimate.

Initial Jobless Claims 4-week average (Jan 14) printed at 231k.

Philadelphia Fed Manufacturing Survey (Jan) printed at 23.2 vs 19.8 estimate.

Existing Home Sales (MoM) (Dec) printed at 6.18M vs 6.44M estimate.

Existing Home Sales Change (MoM) (Dec) printed at -4.6% vs 0.8% estimate.

EIA Natural Gas Storage Change (Jan 14) printed at -206B vs -194B.

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1 comment

jack johnson January 21, 2022 at 8:40 am

An enormous crash is coming, no chance it`s not coming. People have no products to spend money on, this is going to start showing up by years end. Larger household products take anywhere from 3 months to 6 months to get. Ultra-high-end products you cannot even get an estimate on when you can get it. I personally know people who want to do some remodeling on their homes, but product deliveries are 6 months out, so they said forget it.

This is a lot of goods and services not being put into our economy.

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