18-22 Aug Eco Palaver: Up your Jackson Hole, Yellen, Fed Minutes: Worldwide Housing Crashes
Best week for shorties since the 2008 crash, starting Tuesday! Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi at the Federal Reserve Bank of Kansas City’s conference Jackson Hole, Wyoming.
The Fed's and Bank of England's minutes, add to world wide housing doldrums from US to China to UK just adds fuel to the July 29-30 minutes from August. U.S. sales of previously owned homes eight-month high in July as the last of the looky loo's get off the shelf and buy buy buy, but a report in the coming week may show holes in that bubble. The only saving grace--U.S. consumer-price index probably rose at the slowest pace in five months, because Micky D part time jobs don't support a boom.
MONDAY, AUG. 18 Merkel visits Latvia to fan flames on the Ukraine crisis with Latvian Prime Minister Laimdota Straujuma. Latvia borders Russia, joined the euro area this year. (09:30 EDT).
-ECONOMY: Chile GDP (CLGDPNA%) (second quarter), China home prices (July), (crash) Hong Kong unemployment (July) (boom), Thailand GDP (second quarter) (who cares?), U.K. house prices (Aug.) (CRASH!), euro-area trade balance (June), Bloomberg monthly euro-area survey of economists, (blithering idiots all) Ukraine industrial output (July) (it's the war zone, stupid). TUESDAY, AUG. 19 -U.S. housing starts slump to a ten month low 08:30 in Washington. U.S. CPI July will slow-gas prices eased.
WEDNESDAY, AUG. 20-Fed July 29-30 meeting minutes as Yellen weighs raising interest rates for the first time since 2006 as unemployment doesn't reflect quality of jobs, the Fed's next mistake brewing away.THURSDAY, AUG. 21 -Fed Jackson Hole, Wyoming, its annual symposium, this year titled “Re-Evaluating Labor Market Dynamics.” in a balloon economy. That's where we repeat the Emperor's New Clothes to an astounded world, mistaking jobless claim improvement for folks dying of starvation.FRIDAY the Urinepeeons take stage to announce easing, they'e playing catchup.