Stock

Wednesday: MBA Mortgage Applications, Durable Goods

The MBA Mortgage Application data will be very interesting now. This data is timely (last week), and will probably show a sharp decline in purchase applications in key states. Wednesday:• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. • At 8:30 AM, Durable Goods […]

Tax

A Great Career Choice for Military Spouses

In normal times, it can be hard for military spouses to find meaningful work that can transfer when orders are given to relocate. Now with the COVID-19 pandemic, people are losing their jobs, and we’ve not even seen the worst of it yet. So What Can You Do? Military spouses can take this time to […]

Tax

Tax and coronavirus: a tax justice perspective

Not everyone here is going to agree with everything said in this blog from Nick Shaxson at the Tax Justice Network, but Nick and John Christensen, with whom I have long worked, are asking here, and will in other posts to follow, the sort of essential questions that all progressives now need to be considering […]

Wealth

COVID-19 & Your Finances: What Canada’s Economic Relief Means for You

COVID-19 is having a significant and sudden impact on our economy. In response, the Canadian government has introduced a $27-billion plan to help support individuals and businesses that are financially strained as a result of the crisis.  If you’re facing unexpected financial struggle, you’re not alone. To help you understand what support may be available […]

Stock

A few Comments on February New Home Sales

New home sales for February were reported at 765,000 on a seasonally adjusted annual rate basis (SAAR). Sales for the previous three months were revised up, and sales in January were revised up to a new cycle high of 800,000 – the highest sales rate since May 2007. Earlier: New Home Sales at 765,000 Annual […]

Stock

New Home Sales at 765,000 Annual Rate in February

The Census Bureau reports New Home Sales in February were at a seasonally adjusted annual rate (SAAR) of 765 thousand. The previous three months were revised up, combined. “Sales of new single-family houses in February 2020 were at a seasonally adjusted annual rate of 765,000, according to estimates released jointly today by the U.S. Census […]

Stock

Philly Fed: “Nonmanufacturing firms reported a significant weakening in activity this month”

From the Phily Fed: March 2020 Nonmanufacturing Business Outlook Survey Note: Survey responses were collected from March 5 to March 19. Nonmanufacturing firms reported a significant weakening in regional nonmanufacturing activity this month, according to results from the Nonmanufacturing Business Outlook Survey. The survey’s indexes for general activity at the firm level, sales/revenues, new orders, […]

Tax

The Coronavirus Bill amendment for the self-employed will not become law

According to Daniel Barnett, who is an employment lawyer: The House of Commons Public Bill Committee has proposed an amendment to the Coronavirus Bill, entitled Statutory Self-Employment Pay. If accepted (and I think it will be), it compels the government to introduce Regulations providing that “freelancers” (undefined) and “self-employed people” should receive guaranteed earnings of: (a)  80% […]

Stock

Tuesday: New Home Sale, Richmond Fed Mfg

The new home sales data is for February (pre-crisis), but the Richmond Fed manufacturing survey was taken in March and will likely show a sharp decline. Note that the Philadelphia Fed Non-Manufacturing Survey will be released tomorrow morning. I usually don’t cover this, but I’ll post on it tomorrow. Tuesday:• At 10:00 AM ET, New […]