Lee, great article on BLS data.
The 10 year period you mentioned that takes last 5 years and next 5 years using the x-13 formula, was that from the following:
" That is, a final seasonally adjusted estimate for a single time point requires up to 5 years of monthly data preceding and following that time point. "
https://www.bls.gov/cps/seasonal-adjustment-methodology.htm
Lee,
Congrats! You have been absolutely on top of this in your research.
THE TREASURY DEPARTMENT SAYS IT WILL EMPLOY MEASURES TO AVOID AN UNPRECEDENTED DEFAULT ON THE NATIONAL DEBT THIS SUMMER
https://apnews.com/article/financial-markets-national-debt-health-coronavirus-pandemic-government-and-politics-a95665cfc7fbd8504fc91fdb2a6eb861
From Bberg....
“The consumer has so much money they’re paying down their credit card loan -- which is good,” JPMorgan Chief Executive Officer Jamie Dimon said Wednesday. “So the consumers have $2 trillion more cash in their checking accounts than they had before Covid. That’s also true on the business side, where businesses took advantage of huge financing in the marketplace to raise a lot of cash.”
This has to be the first recession in the history of mankind that everyone had more cash at the end of the recession than when it began. My god, not sure which part of the business cycle
He certainly has an understanding of the banks. However, constantly quoting regulatory rules as a way of explaining market operations is truly not the same thing and becomes very confusing. This is where your analysis shines. It pokes through the BS correlates actual market conditions to why the Fed is doing what it does.
Lee appreciate the comments. to gameblazer on twitter. I would like him to engage the conversation because his view is banks are in a great position and there is no liquidity concerns.
So now that the banks are reducing loan loss reserves, everything is great again? Are people actually paying down debt or has the relief from the government only kicked the can down the road?
