Connecticut is one of the wealthiest states in the country, but it’s drowning in debt, and the governing Democrats aren’t entirely sure what to do about it. But they’ll need to work fast to pass a budget–either that or face implementing additional spending cuts to education and municipal aid across the state.
House Sales Slow Down, Inventory Grows in July The latest data on new residential sales in the United States jointly reported by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reveals that economic activity in the U.S. housing market may be slowing down. According to the seasonally-adjusted July 2017 data, (more…)
Shares in WPP PLC (NASDAQ:WPPGY) crumped on Wednesday morning, falling by more than 12% as the ad agency reported weaker-than-expected ad buying from consumer goods companies, especially those in North America. The outlook doesn’t look good either, as the company lowered its full-year guidance.
Former Texas Congressman Ron Paul is seeing a high probability of a stock market crash in 2017. The Congressman believes that the American stock market indices could drop by as much as 50% before the end of this year.
The Federal Reserve Bank of Chicago, a regional branch of the Federal Reserve, releases a monthly national economic reading called the Chicago Fed National Activity Index, or CFNAI for short. After rising in June, the CFNAI fell substantially in July to -0.01% from an upwardly revised one percent.
The Federal Reserve published its monthly Industrial Production and Capacity Utilization report for the month of July, which showed a dip in American manufacturing, due primarily to a decline in production within the auto industry.
Bank holding company Capital One Financial Corp. (NYSE:COF) has reported that an increasing number of Americans are defaulting on auto and credit card loans.
The U.S. Census Bureau’s July report on new residential constructions shows that housing starts are on a decline, pointing to a slowdown in the U.S. housing market.
It’s good news/bad news for American young people looking for work this summer. According to the Bureau of Labor Statistics, the unemployment rate among young people aged 16 to 24 fell this summer to its lowest level in nearly 50 years. Unfortunately, the data is skewed by the far smaller number of young people actually (more…)
The Los Angeles County Board of Supervisors voted unanimously to greenlight a pilot program that pays select homeowners to build a second dwelling on their property that would be used to house the homeless. The motion was approved with a four-to-zero vote.