Recession Watch

  • September new house sales in the US fell 23% compared to the same month in 2006.
  • After pausing, ABX indices keep falling, possibly predicting yet another Sharemarket tumble.
  • NY Times predicts US $4 TRILLION decline in US Household Real Estate value.
  • Calculated Risk study and graph shows that a recession is highly likely and we are probably in it already.
  • US Light, sweet Crude reaches $90.60.
  • Oil inventories in the US fall 5.29 million barrels to 316.6 million barrels. That's a drop of 1.6% over a one month period.
  • NYBOT reached historical low of 77.237 yesterday. NYBOT measures the strength of the US Dollar against its major trading currencies. This historically low figure indicates that the US Dollar is lower now that at any point since 1973. This will cause inflation and, eventually, higher interest rates.
  • Aussie Dollar "punches through 91 cents"
  • Two-thirds of Americans believe a recession will happen in 2008.
  • Sales Tax figures in Georgia (US state, not former Soviet province) show a 10.6 percent annual decline between the 2006 figure and the 2007 figure. A decline in sales tax revenue indicates, quite obviously, a decline in consumer spending. This drop in sales tax revenue indicates that Georgia is in recession.

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