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As a guest post, here is the opinion of IMD Professor Carlos A. Primo Braga on on the economic, political and psychological drivers of Brazil’s currency slide.
Cracks in the Economy Widen as Durable Goods Orders Sink The word of the day is "awful".
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Existing Home Sales Up 4.7% Following Last Month’s 5% Decline; Home Price Weakness Existing home sales bounced this month, coming in just above the high end of Econoday Economists’ Estimates . Existing home sales bounced back very strongly in September, up 4.7 percent to nearly reverse the prior month’s revised decline of 5.0 percent, a decline that now looks like an outlier. The month’s annual sales rate, at 5.55 million, is just beyond Econoday’s top-end forecast and the second best reading of the recovery.
One relative bright spot is Amazon Hiring More than Penney’s, Walmart Combined . Leaving one widely watched holiday hiring forecast in the dust, Amazon (AMZN) said Tuesday that it will add 25 percent more seasonal workers this year, outpacing many of its bricks-and-mortar competitors who plan to keep hiring flat.
Housing Starts Surprise to Upside Led by Multi-Family, Permits Surprise to Downside There’s something for bulls and bears alike to cheer about in today’s housing starts report. Starts were ever-so-slightly above the top Econoday Estimate but permits were well below the lowest economist’s estimate. Starts, driven by a spike in multi-family units, came in much stronger than expected in September, news offset however by a significant decline in permits.
See more here: Socialist Finds 14 Flaws in Capitalism and Seeks Help to Fix Them; Mish 14 Point Rebuttal
Original post: UberRUSH: Uber’s On-Demand Delivery Service Rolls Out in New York, Chicago, and San Francisco
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