It is the 20th of August 2017

News

Fed Abandons "Yellen's Favorite" Labor Market Conditions Index (Because It Just Won't Fit The Narrative?)

Once Janet Yellen's favorite indicator (until it started to turn down, and became just "experimental"), The Fed's Labor Market Conditions Index (a 19-factor smoothed model that has historically correlated extremely well to recession) has been abandoned because The Fed "believes it no longer provides a good summary of changes in the US labor market."

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Trump - Blumenthal Twitter War Goes Nuclear As Trump Fires Back

Trump drew first blood this morning in what appears to be a growing twitter feud with Connecticut's Richard Blumenthal when he called the Senator a "phony Vietnam con artist." Within an hour, Blumenthal launched a counter strike calling Trump a "bully."  It had all the makings of a heated 1st grade-ish Battle Royale.

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The Uber Effect: Avis Plunges On Huge Miss, Margin Collapse, Guidance Cut, "Over-Fleeting"

While the growing woes facing the auto sector are well-known by now (see "Carmageddon: Ford & GM Sales Tank Despite Record July Incentive Spending") and boil down to excess capacity, insufficient demand and just a tiny - if one listens to the experts - subprime lending bubble, one key culprit has emerged as the biggest catalyst behind the chronic weakness among US carmakers: a moribund fleet, or rental, industry which has been devastated in recent years from Uber's juggernaut of disruption.

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The Uber Effect: Avis Plunges On Huge Miss, Margin Collapse, Guidance Cut, "Over-Fleeting"

While the growing woes facing the auto sector are well-known by now (see "Carmageddon: Ford & GM Sales Tank Despite Record July Incentive Spending") and boil down to excess capacity, insufficient demand and just a tiny - if one listens to the experts - subprime lending bubble, one key culprit has emerged as the biggest catalyst behind the chronic weakness among US carmakers: a moribund fleet, or rental, industry which has been devastated in recent years from Uber's juggernaut of disruption.

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