Chief Investment Officer, Economist; NFL Alumni; UT Alumni #VFL
Panama City Beach,FL/ D.C.
Joined February 2009
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During the Civil War, the D.C. court found itself at odds with the president when it ruled that habeas corpus could be issued against the Union army to return minors who had enlisted without parental consent. In response Lincoln cut off the judges salaries
Lets stick with the facts on unemployment, during Trump's term vs Biden/Harris. Jan/17, 143m employed Jan/20, 150m +7m in 3 yrs. Biden/Harris=Jan. 2024 155m employed that is +5m, this nets out COVID, civilian labor population increased by 7m since 2020. @elonmusk #trump2024
We need to keep an eye on the existing mortgages on SFR, ancillary costs are sky rocketing(taxes, insurance etc.) the rising costs to rebuild are fueling unprecedented homeowners increases resulting in massive escrow shortages. Remember 2 of the 4 components of a mortgage Taxes and Ins. not only Principle and Interest
JT SMITH retweeted
It is a bull market in (i) part-time jobs, (ii) self-employment and (iii) multiple job holders. Outside of these areas, employment actually contracted more than -500k in March and by -2 million in the past year. What an economy!!
Slow your roll!! Personal Income; 1/3 Transfer receipts normal Jan. COLA adjustments. Compensation actually slowed even with annual raises. Scorecard=wages +$42b-outlays +$54b= ($12b) #inflation
JT SMITH retweeted
Together with a group of Arabs, I watched the 47-minute long video of Hamas murdering civilians.
Here’s what they thought:
Personal Income: Let's make this easy. 31% or $309b of Personal Savings was wiped out in q3. This is a problem that will only get worse.@KeithMcCullough
Personal Income: Let's make this easy. 31% or $309b of Personal Savings was wiped out in q3. This is a problem that will only get worse. @zerohedge #economy
Jobs Friday: Take a breath: Multi job holders +368k month these get counted twice in NFP number.#JobsReport
JT SMITH retweeted
"In perhaps the most shocking and boneheaded move of the year in the mortgage industry, Comerica Bank senior management has decided to exit the warehouse lending business (which it's been doing since 1913!)." $CMA #JoeGarrett
We need to keep an eye on the existing mortgages on SFR, ancillary costs are sky rocketing(taxes, insurance etc.) the rising costs to rebuild are fueling unprecedented homeowners increases resulting in massive escrow shortages. Remember 2 of the 4 components of a mortgage Taxes and Ins. not only Principle and Interest
$42b for high speed internet infrastructure? Don't we already pay that with the $10b/yr collected on our cellphone and internet bill? It's called the Universal Service Fee and it goes directly into the Federal Universal Service Fund(FUSF). That was the entire purpose of this Fund(originally), now we are using te fund to give free cell phones/data to welfare/food stamp recipients. The fee was charged to telecom, but the FCC allowed them to pass it onto consumers and now they want to use $42b of taxpayer funds to further subsidize telecom's
#FOMC is keenly aware of the inflationary pressures that have not hit the #CPI yet. Homeowners insurance companies are hitting consumers with unprecedented premium increases (some states 30-40%) fueled by "cost to replace" and increase in natural disaster losses. This is causing substantial escrow shortages. We have seen this starting to rear it's ugly head in mortgage dq's.
Florida homeowners will face a projected 40 percent increase in property insurance rates wusfnews.wusf.usf.edu/local-…
