Pet peeve: CNBC talking heads talking about a "bad" US economy. Really. Sure, GE, travel, restaurant, leisure and services sectors are all struggling but most other sectors are doing just fine. To the best of my knowledge, government employees at all levels (federal, state, county, city) never missed a beat.
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Housing
This is absolutely incredible. US home sales soar -- from TheStreet:
According to the National Association of Realtors, U.S. existing home sales surged a record-breaking 24.7% in July compared with June, as the old-fashioned mantra "home sweet home" appears to be ringing true for Americans amid a pandemic that has most everyone hunkered down inside.
July's jump in home sales is the strongest monthly gain in the survey’s history, which dates back to 1968.
The sales increase comes even as the supply of existing homes has fallen which, in turn, has driven up the price of homes. According to the survey, the median price for a home in July was $304,100, up 8.5% from July 2019.
Low interest rates are also attracting buyers to the market.
A brother-in-law -- builds homes -- had planned to build another house next summer but says he may have to delay those plans: he says lumber has gotten way too expensive.
Every new home will come with new large-screen television sets and many with Apple TV.
The Farmers Have Money, Too
Deere Thanks President Trump
Deere lifts outlook as earnings crush views amidst stimulus boost -- Investor's Business Daily.
Deere easily beat estimates for the third quarter and hiked outlook, as farm equipment sales weather the coronavirus pandemic thanks to government stimulus and replacmeent demand for aging tractors.
Deere stock pegged a record high.Analysts expected Deere earnings per share to dive 53% to $1.26.
Revenue was seen down 26% to $6.64 billion.Analysts expected Deere earnings per share to dive 53% to $1.26.
Revenue was seen down 26% to $6.64 billion.
President Trump's $19 billion farm relief program and replacement demand for aging tractors helped to buoy Deere's farm equipment sales.
As economic uncertainty continues, famers also are investing in technology to lower costs and improve productivity, Deere said.
More Apple iPads in those big, a/c'd tractors.
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Meanwhile ...
Joe Biden says he will shut down the economy again, if the DNC tells him to.
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