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New Single-Family Home Sales Jump in August, but Headwinds Intensify
“New-home sales bounced higher in August, but inventories rose again. Elevated prices and surging mortgage rates reduce affordability and are likely to weaken future demand.” ~ Robert Hughes
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Consumer Confidence Rose Again in September, but Risks Remain
“Consumer confidence improved in September, and inflation expectations eased slightly. An aggressive Fed tightening cycle, elevated price pressures, and the fallout from Russian aggression in Ukraine remain risks for the economic outlook.” ~ Robert Hughes
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G.K. Chesterton on the Fundamentals of Liberalism
“Chesterton’s liberalism holds that technocratic control of the economy is inherently wrong because it denies something fundamental in human nature: the responsibility to make moral choices of right and wrong.” ~ Daniel Betti
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Real Nondefense Capital-Goods Orders Remain in a Flat Trend
“Real manufacturers’ new orders trend growth remains weak. Rising prices, Fed policy tightening, and global turmoil sustain elevated risks.” ~ Robert Hughes
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Luxury Beliefs Death Spiral
“Short of welcoming the brutal circumstances that would force everyone to experience the immediate pain of decades-long cost shifting and debt spending, how can we reduce the social costs of sharing poor man’s beliefs?” ~ Max Borders
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Robespierre and Us
“One of the strengths of Gauchet’s book is the way it continually emphasizes the inability of Robespierre and his fellow fanatics to give serious thought to the art of governance in a political order at once popular and representative.” ~ Daniel J. Mahoney
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