No. 927: November Housing Starts, Freight Index, Outlook for the Markets, Dollar and Gold

(SGS Subscription required) • Stocks Continue to Boom, with Extreme Downside Vulnerability to Near-Term Negative Economic Surprises and Otherwise
• Pending Run on the U.S. Dollar Should Mirror a Flight into Gold and Silver
• Economic Reporting Does Not Reflect Costs of Destruction from Natural Disasters, but It Does Reflect Gains from Temporary Relief and Recovery Activity
• Freight Index Continued in Non-Recovered, Low-Level Stagnation
• Nonsense Volatility and Revisions Hit November 2017 Housing Starts, Amidst a Continued Likely Boost from Disaster Recovery
• Headline Gain of 3.3% Was 0.5% Net of Revisions • Activity Remained in Low-Level, Non-Recovered Stagnation, with Housing Starts Still Shy of Their Pre-Recession High by 42.9% (-42.9%) and Single-Unit Starts Shy of Recovery by 51.6% (-51.6%)
• Multiple-Unit Starts Recovered in 2015, but Have Fallen Back Since by 18.4% (-18.4%) from Their Pre-Recession Peak
• Building Permits Remained Shy of Recovery by 42.6% (-42.6%)

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