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US Military Overextended in Iran as Admirals File Formal Dissent
The consensus read on the US military position in Iran holds that this is a manageable, if costly, operation. The classified 14 August Secretary of Defense Orders Book (SDOB), as reported by…
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Real Personal Income Excluding Transfers Turns Negative Year-on-Year
The consensus read on the US consumer is that spending holds up, therefore the economy holds up. Real personal income excluding transfers, the measure the National Bureau of Economic Research…
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New Single-Family Home Inventory Surge Masks a Deeper Builder Squeeze
The consensus read on new single-family home inventory data is that supply is finally healing a broken market. The numbers from the Census Bureau tell a more uncomfortable story for the…
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Canada US Trade Negotiations Collapse as US Sought to Limit Ottawa’s Other Deals
The consensus framing around the breakdown of Canada US trade negotiations is that this was a clash of personalities, or at worst a negotiating impasse. The details Carney put on the record…
