Brazil Burns Protestors set Fire To Legislative Assembly in Rio de Janeiro BraziL. Police Firing At Protestors With Assault Rifles

http://lucas2012infos.wordpress.com/2013....

Yup. Heating oil is up this week, so I face the horrifying $8000 oil fill up this summer.

Econoday was looking for readings of +0.2% for both CPI and CPI Less Food & Energy.

BLS Release:


http://bls.gov/news.release/cpi.nr0.htm


Consumer Price Index - May 2013

The Consumer Price Index for All Urban Consumers (CPI-U) increased
0.1 percent in May on a seasonally adjusted basis, the U.S. Bureau of
Labor Statistics reported today. Over the last 12 months, the all
items index increased 1.4 percent before seasonal adjustment.


The shelter index rose 0.3 percent and accounted for more than half
of the seasonally adjusted all items increase in May. The energy
index rose modestly, with the gasoline index flat but increases in
the electricity and natural gas indexes accounting for the rise. The
food index, however, turned down in May, with the food at home index
falling 0.3 percent.


The index for all items less food and energy increased 0.2 percent in
May. Besides the shelter increase, advances in the indexes for
airline fares, recreation, and apparel also contributed to the rise.
In contrast, the indexes for medical care and used cars and trucks
declined in May.


The all items index increased 1.4 percent over the last 12 months, an
increase from last month's 1.1 percent figure. The 12-month change in
the index for all items less food and energy remained at 1.7 percent.
The food index has risen modestly over the last 12 months, advancing
1.4 percent, while the index for energy has declined, falling 1.0
percent.


Table A. Percent changes in CPI for All Urban Consumers (CPI-U): U.S. city
average


Seasonally adjusted changes from
preceding month
Un-
adjusted
Nov. Dec. Jan. Feb. Mar. Apr. May 12-mos.
2012 2012 2013 2013 2013 2013 2013 ended
May 2013

All items.................. -.2 .0 .0 .7 -.2 -.4 .1 1.4
Food...................... .2 .2 .0 .1 .0 .2 -.1 1.4
Food at home............. .3 .2 .0 .1 -.1 .1 -.3 .8
Food away from home (1).. .1 .1 .1 .1 .2 .3 .2 2.3
Energy.................... -3.4 -.8 -1.7 5.4 -2.6 -4.3 .4 -1.0
Energy commodities....... -5.7 -1.5 -3.0 8.6 -4.1 -7.9 -.1 -4.2
Gasoline (all types).... -6.0 -1.9 -3.0 9.1 -4.4 -8.1 .0 -4.1
Fuel oil (1)............ -.2 .0 -.2 3.1 -2.1 -4.4 -2.9 -5.8
Energy services.......... .6 .3 .4 .5 -.2 1.4 1.2 4.5
Electricity............. .4 .2 1.1 .3 -.6 .5 .8 1.7
Utility (piped) gas
service.............. 1.5 .7 -1.7 1.2 1.0 4.4 2.4 14.2
All items less food and
energy................. .1 .1 .3 .2 .1 .1 .2 1.7
Commodities less food and
energy commodities.... -.1 -.1 .2 .0 -.1 .0 .0 -.2
New vehicles............ .3 .2 .1 -.3 .1 .3 .0 1.1
Used cars and trucks.... -.4 -.3 .2 .8 1.2 .6 -.1 -1.6
Apparel................. -.5 .1 .8 -.1 -1.0 -.3 .2 .2
Medical care commodities -.3 -.3 .1 -.4 .1 .1 -.5 .0
Services less energy
services.............. .2 .2 .3 .2 .2 .1 .2 2.3
Shelter................. .2 .1 .2 .2 .2 .2 .3 2.3
Transportation services .2 .4 .5 .1 .2 -.2 .4 2.6
Medical care services... .3 .3 .2 .3 .3 -.1 .0 2.9

1 Not seasonally adjusted.


Consumer Price Index Data for May 2013


Food


The food index fell 0.1 percent in May after rising 0.2 percent in
April. The index for food at home fell 0.3 percent, its largest
decline since July 2009. Four of the six major grocery store food
group indexes posted declines, led by nonalcoholic beverages, which
fell 1.1 percent. The index for dairy and related products decreased
0.8 percent, its third decline in the last four months. The indexes
for cereals and bakery products and other food at home both turned
down in May, falling 0.4 percent and 0.3 percent, respectively. The
index for meats, poultry, fish, and eggs, which increased in April,
was unchanged in May. The only grocery store food group index to rise
was fruits and vegetables, which increased 0.4 percent in May after a
1.4 percent decline in April. The food at home index has increased
0.8 percent over the past year; the fruits and vegetables index has
risen the most of the six groups over that span, increasing 2.1
percent. The index for food away from home rose 0.2 percent in May
and has risen 2.3 percent over the past year.



Energy


The energy index rose in May, increasing 0.4 percent after
substantial declines in March and April. The gasoline index, which
declined sharply the previous two months, was unchanged in May.
(Before seasonal adjustment, gasoline prices rose 0.8 percent in
May.) The fuel oil index continued to fall; its 2.9 percent decrease
in May was its third consecutive decline. However, other energy
indexes rose. The electricity index, which increased 0.5 percent in
April, rose 0.8 percent in May. The natural gas index rose 2.4
percent, its fourth consecutive increase. Over the last 12 months
energy indexes are mixed, with the index for fuel oil falling 5.8
percent and the gasoline index down 4.1 percent, but the natural gas
index rising 14.2 percent and the electricity index up 1.7 percent.



All items less food and energy


The index for all items less food and energy increased 0.2 percent in
May after rising 0.1 percent in both March and April. The shelter
index rose 0.3 percent in May, its largest increase since July 2011.
The index for rent rose 0.3 percent and the index for owners'
equivalent rent increased 0.2 percent. The index for lodging away
from home rose 1.2 percent in May, its fifth consecutive increase.
Besides shelter, several other indexes also increased in May. The
index for airline fares rose 2.2 percent after declining in April.
The indexes for apparel and recreation both rose 0.2 percent after
declining in recent months. In contrast to these increases, the index
for medical care declined in May, falling 0.1 percent. The index for
medical care services was unchanged while the index for medical care
commodities fell 0.5 percent, with the index for prescription drugs
decreasing 0.6 percent. The index for used cars and trucks also
declined, falling 0.1 percent after increasing in each of the first
four months of the year. Several indexes were unchanged in May,
including new vehicles, tobacco, and household furnishings and
operations.


The index for all items less food and energy increased 1.7 percent
for the 12 months ending May. The index for shelter has risen 2.3
percent over the last 12 months. The medical care index has risen 2.2
percent, its smallest 12-month increase since September 1972. The
index for medical care services has increased 2.9 percent over the
last year, while the index for medical care commodities was
unchanged, with the prescription drug index down 0.1 percent over the
span.


Not seasonally adjusted CPI measures


The Consumer Price Index for All Urban Consumers (CPI-U) increased
1.4 percent over the last 12 months to an index level of 232.945
(1982-84=100). For the month, the index increased 0.2 percent prior
to seasonal adjustment.


The Consumer Price Index for Urban Wage Earners and Clerical Workers
(CPI-W) increased 1.2 percent over the last 12 months to an index
level of 229.399 (1982-84=100). For the month, the index increased
0.2 percent prior to seasonal adjustment.


The Chained Consumer Price Index for All Urban Consumers (C-CPI-U)
increased 1.3 percent over the last 12 months. For the month, the
index increased 0.2 percent on a not seasonally adjusted basis.
Please note that the indexes for the post-2011 period are subject to
revision.



The Consumer Price Index for June 2013 is scheduled to be released on
Tuesday, July 16, 2013, at 8:30 a.m. (EDT).

Econoday was looking for readings of 955K for Starts, and 973K for Permits.

April Starts was revised from 853K to 856K; and Permits was revised from 1.017M to 1.005M.

Census Release (.pdf):

http://www.census.gov/construction/nrc/p....

Partial quote:

Quote:The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for May 2013:

BUILDING PERMITS

Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 974,000. This is 3.1 percent (0.9%) below the revised April rate of 1,005,000, but is 20.8 percent (1.3%) above the May 2012 estimate of 806,000.

Single-family authorizations in May were at a rate of 622,000; this is 1.3 percent (1.1%) above the revised April figure of 614,000. Authorizations of units in buildings with five units or more were at a rate of 325,000 in May.

HOUSING STARTS

Privately-owned housing starts in May were at a seasonally adjusted annual rate of 914,000. This is 6.8 percent (10.1%)* above the revised April estimate of 856,000 and is 28.6 percent (14.4%) above the May 2012 rate of 711,000.

Single-family housing starts in May were at a rate of 599,000; this is 0.3 percent (8.7%)* above the revised April figure of 597,000. The May rate for units in buildings with five units or more was 306,000.

HOUSING COMPLETIONS

Privately-owned housing completions in May were at a seasonally adjusted annual rate of 690,000. This is 0.9 percent (13.4%)* below the revised April estimate of 696,000, but is 12.6 percent (13.7%)* above the May 2012 rate of 613,000.

Single-family housing completions in May were at a rate of 546,000; this is 4.2 percent (13.9%)* above the revised April rate of 524,000. The May rate for units in buildings with five units or more was 135,000.

*U.S. MAY CONSUMER PRICES RISE 0.1%; CORE RATE UP 0.2%

Damn.. this is one of the few things I actually miss from CA. Not many places have that good of an in stock hardware selection (can't always hit fastenal when its open). That and the taco trailer down the street from the house..

But yeah.. I liked shopping there mostly because the stores were kinda empty.

Actually, this may have poor business practices as a major contributing factor, in addition to the not so great economy.

There is one not far from where I live, and the workers seemed almost uniformly surly, lazy, and uncaring about efficient customer service. In spite of that, I patronized them because it was extremely convenient and I rarely ever needed any assistance.

About a year ago, they started up a "member club" program, similar to some grocery stores, etc. In return for signing up (and thereby giving them all sorts of info about yourself), they give you "discount" prices and have special "member only" sales events. The problem, of course, is that prices without the member discoiunt are exorbitant, and, as a matter of principle, I refuse to sign up for "member" programs anywhere. I refused to do business with them from that point on (told the manager why), and I would expect there were others who felt the same way.

Anyway, it's satisfying to see an entity that operates using business practices I dislike go down. Too bad it's not Chapter 7.

Things are getting better though, right?

http://www.reuters.com/article/2013/06/1....

Noooo, OSH has been around FOREVER (1931 according to the wiki). Sears hasn't sucked them dry. The economy has sucked them dry. Many of these stores are literal ghost towns because of sh*thead monetary policies.

So this must be how Sears puts itself through bankruptcy without going bankrupt. Spin off a part of the business. Make it take its debts with it. Saddle it with impossible obligations payable to Sears. Sears purges that much debt but gets to suck out the liquidity until the well runs dry. Sweet./sarc

Vacant land is starting to move at less than %50 of peak values. A couple of years ago you couldn't sell vacant land at any price.

Holy moly!

We're above 50 for the first time since June 2006.

Econoday was looking for a reading of 45.

NAHB Release:

http://www.nahb.org/news_details.aspx?se....

*U.S. NAHB HOMEBUILDER SENTIMENT INDEX JUMPED TO 52 IN JUNE

Econoday was looking for a reading of +0.50.

FRBNY Release:

http://www.ny.frb.org/survey/empire/empi....

Quote:The June 2013 Empire State Manufacturing Survey indicates that conditions for New York manufacturers improved modestly. The general business conditions indexthe most comprehensive of the survey's measuresrose nine points to 7.8. Nevertheless, most other indicators in the survey fell. The new orders index slipped six points to -6.7, the shipments index fell twelve points to -11.8, and the unfilled orders index fell eight points to -14.5. The prices paid index held steady at 21.0, while the prices received index rose seven points to 11.3. Labor market conditions worsened, with the index for number of employees dropping to zero and the average workweek index retreating ten points to -11.3. Continuing the trend seen in the past few months, indexes for the six-month outlook declined, suggesting that optimism about future conditions was weakening further.

In a series of supplementary survey questions, manufacturers were asked to look back and assess the short-term and medium-term effects of Superstorm Sandy on their business. As in last Novembers survey (conducted immediately after the storm), the vast majority of upstate firms said that they were essentially unaffected by the storm. However, firms in New York City, Long Island, and the Lower Hudson Valley reported that it took an average of more than two weeks after the storm for business to get back to normal, and more than a third of these firms said that the storm had adversely affected their overall business revenue during the seven months since Sandy.

General Business Conditions Index Recovers Some Ground

After dipping into negative territory last month, the general business conditions index for June recovered some ground, rising nine points to 7.8a sign that conditions had improved modestly. Roughly 29 percent reported that conditions had gotten better over the month, while 22 percent reported that conditions had worsened. However, while the general business conditions index was positive and higher than last month, many of the surveys other indicators were negative and noticeably weaker. The new orders index fell six points to -6.7, and the shipments index fell twelve points to -11.8. The unfilled orders index dropped eight points to -14.5, and the delivery time index declined three points to -6.5. The inventories index fell three points to -11.3, extending the decline in inventories to a fourth consecutive month.

Labor Market Conditions Soften

The prices paid index was little changed at 21.0, pointing to a steady level of input price increases over the month. The prices received index climbed seven points to 11.3, indicating that selling price increases had picked up. Labor market conditions were weak: the index for number of employees fell six points to zero, indicating that employment levels were flat, and the average workweek index declined ten points to -11.3, a sign that hours worked fell modestly.

Six-Month Outlook Continues to Weaken

Hewing to the pattern of the past few months, indexes for the six-month outlook declined, suggesting that optimism about future conditions continued to wane. The future general business conditions index inched down to 25.0, the future new orders index fell nine points to 19.8, and the future shipments index fell five points to 20.2. The future prices paid index shot up sixteen points to 45.2, indicating that input price increases were expected to accelerate, while the future prices received index rose three points to 17.7. The index for expected number of employees retreated to 1.6, and the future average workweek index declined eleven points to -9.7. The capital expenditures index fell steeply, dropping twenty points to 3.2, and the technology spending index moved into negative territory for the first time since 2009, declining fifteen points to -3.2.

FRBNY Full Wrtite-Up (.pdf):

http://www.ny.frb.org/survey/empire/empi....

"Uh: New Orders down, Shipments down, Unfilled Orders down, Delivery Time down, Inventories down, Number of Employees down, Avg Workweek down"

*U.S. EMPIRE STATE FACTORY INDEX ROSE TO 7.8 IN JUNE FROM -1.4

Naturally Obama will have no problem with that. Chemical weapons bad. Car bombs good. As long as they're targeted at Assad's men. No press conference tomorrow about it. Business as usual.

https://twitter.com/L0gg0l/status/346347....
Quote:DAMASCUS MILITARY AIRPORT ON FIRE AFTER LARGE EXPLOSION -- WITNESSES

Quote:Damascus hotel just swayed and mivrd again several time followed by sound if an explosion and now sirens
Quote:The explosion was in Mezzah Military airport. Which belongs to the regime. More details to come


Israel striking Iranian weapons/troops?? Or Russian weapons?? Accident?? FSA being lucky??

This might be the catalyst for some big shit storm if Israel is involved.

Quote:Syrian state TV has said that an explosion has hit a Damascus neighbourhood housing embassies and the military airport. - AP

Quote:Mezzeh Military Airport is base for thousands of Assad troops. Initial reports say big security location targeted. #Syria"

Quote:#Damascus it's a car bomb inside Mezeh military airport that much we can verify though not allowed inside.

So it seems the first reports were hyped yet again... It looks like a FSA car bomb probably killing dozens of Assad men.

I have wrote on this site that once the govt starts seizing assets then the assets lose all value because no one will pay anything for them because they could always be seized again. The natural gas company is a perfect example. Bying a once publically owned asset in a country is a lose lose situation because you are always at risk of the asset being seized again or even a law being passed that you can not cut off the sale of gas to a customer if they stop paying their bill. Now think what happens in the US if the govt started seizing assets. The federal reserve says that the US owns assets worth $61 trillion. Now we all know in realtiy if the Fed stopped pumping these assets would quickly be worth less than 50% of that amount. Imagine what you would pay for an asset that the govt seized from someone and attempted to sell it to raise money. I would pay nothing because the govt could always seize it again and at worse it has an unclean title. Greece will not be able to sell any of its public assets because immediately a new govt could be elected and declare the sale null and void. That is the take away from this. The US govt will in the end be unable to fund less than $10 trillion (and yes I pulled that number out of my butt) of the $200 trillion it owes.


Greece's disaster du jour: Privatization of natural gas firm collapses

Barely a day goes by when the news about Greece's economy doesn't worsen, and Tuesday was no exception. The plan was that Greece would privatize its government-owned natural gas firm DEPA, raising as much as 1 billion euros, to help offset the country's massive debt, and satify the terms of the bailout agreement with Greece's European creditors. However, Greece did not get a single bid for DEPA, and the failure became apparent on Monday when Russian energy giant Gazprom withdrew from the bidding. This throws Greece's entire privatization program into chaos. Now Greece will (theoretically) have to find another way to make up for the 1 billion euros, if it's to meet its bailout terms. Reuters

The USSC's version of TARP?

Tanks in the streets? Maybe not a bad idea for parts of those two cities. There already is blood in the streets.

Now I understand why Roberts caved and gave ACA the rubber stamp. He was privy to the bigger plan and knew without it that there would be blood in the streets. From this point forward the lower road will be the one most heavily traveled to avoid the consequences of the seeds sown over the last 30 years. The productive will continue to get punished. Civil liberties will be confiscated. All a result of systemic corruption gone wild.