- (NYT) Broad areas around the stricken Fukushima Daiichi nuclear plant could soon be declared uninhabitable, perhaps for decades, after a government survey found radioactive contamination that far exceeded safe levels, several major media outlets said Monday.
- Germany now has more renewable energy installed than the USA.
- July U.S. single-family housing starts fell 4.9%; Building permits fell 3.2% in July.
- July U.S. industrial output rose 0.9%, in line with expectations and the biggest gain this year.
- The Conference Board reported that the index of leading economic indicators increased by 0.5% in July, suggesting modest growth ahead.
- The Department of Labor reported that first time claims for unemployment benefits rose by 9,000 to 408,000 in the week ending August 13.
- The Philadelphia Fed region reported this morning that industrial activity weakened sharply this month. The bank's index is reported at a negative 30.7, down from 3.2 in July and the lowest since March 2009.
- The U.S. CPI rose 0.5% in July, increasing inflation concerns once again.
- The Euro-area expanded by only 0.2% according to first estimates.
- YoY India’s industrial output rose by 8.8%.
- A few of Observations:
U.S. Rail Traffic continues strong.
Steel and Iron Ore prices are strong.
Libor and Fed Funds Spread is showing signs of life.
Coal continues strong
Baltic Dry Index producing a P&F buy signal.
M2 is growing at 10% +
M1 growing at 20% +, fastest since 1975
Money Multiplier still below 1 at 0.78