---
title: "Big Picture"
url: https://independentstockanalysis.com/big-picture-3/
description: "Amid the European mess and weak emerging markets, the US has seen The Housing Recovery Strengthen at esoltas . Both Home Prices and Rents Rise at CNBC…"
published: 2012-08-11
updated: 2012-08-11
---

# Big Picture

Published 2012-08-11

Posted on

by

J.J. Butler

Amid the European mess and weak emerging markets, the US has seen The Housing Recovery Strengthen at [esoltas](http://esoltas.blogspot.com/2012/08/the-housing-recovery-strengthens.html). Both Home Prices and Rents Rise at [CNBC](http://www.cnbc.com/id/48547923). Auto manufacturing and sales are a strong tailwind at the [Detroit News](http://www.detroitnews.com/article/20120807/AUTO01/208070416/1148/rss25).

The good news continues as The US private economy is growing as the government economy slows at [Value Plays](http://www.valueplays.net/2012/08/06/as-us-private-economy-is-growing-us-govt-economy-is-slowing-good/). Further, US Intermodal Volume Hit Record in July at [JOC](http://www.joc.com/intermodal/us-intermodal-volume-hits-record-july). This is not the data of recession.

“…we now estimate an upward revision to about 2.5% for Q2 from an original government report of 1.5%.” ([First Trust](http://www.ftportfolios.com/Commentary/EconomicResearch/2012/8/9/trade-data-boosts-gdp-to-2.5percent)) Diametrically opposed is David Rosenberg: The Coming Negative Export Shock giving pause at [Pragmatic Capitalism](http://pragcap.com/david-rosenberg-the-coming-negative-export-shock).

Further concern: “China’s export growth collapsed and imports and new yuan loans trailed estimates in July, adding to signs the global economy is weakening…” from [Bloomberg](http://www.bloomberg.com/news/2012-08-10/china-july-exports-rise-1-vs-economists-estimate-for-8-.html). “China’s crude steel output may fall for the first time in 31 years this year…” in the [WSJ](http://online.wsj.com/article/SB10000872396390443792604577572172654239282.html). The world’s largest miners continue to trim capex a billion dollars at a time: [Globe and Mail](http://www.theglobeandmail.com/globe-investor/xstrata-trims-spending-by-1-billion/article4467077/).

“Real Wages Much Lower Than They Were Four Decades Ago” at [Ritholtz](http://www.ritholtz.com/blog/2012/08/median-wages-have-plummeted-since-1969/?utm_source=dlvr.it&utm_medium=twitter). The unemployment rate for 18 to 19 year olds is 22.2%. [FED](http://research.stlouisfed.org/fred2/series/LNS14000088)

“Stockpiles of the biggest crops will decline for a third year…” at [Bloomberg](http://www.bloomberg.com/news/2012-08-08/global-food-reserves-falling-as-drought-wilts-crops-commodities.html). U.S. Corn-Crop Estimate Cut as Midwest Drought Hurts Yields by [Bloomberg](http://www.bloomberg.com/news/2012-08-10/u-s-corn-crop-estimate-cut-as-midwest-drought-hurts-yields-1-.html). Grain markets may be on verge of final blow-off top by [Peter Brandt](http://peterlbrandt.com/grain-markets-may-be-on-verge-of-final-blow-off-top/).

The CRB Index Has Another Date With Resistance at [All Star Charts](http://allstarcharts.com/the-crb-index-has-another-date-with-resistance/). Miners to reflate? [Marketwatch](http://www.marketwatch.com/story/copper-melt-up-coming-as-miners-reflate-2012-08-08)

Ten stocks which have payed an uninterrupted dividend more than 110 years and increased their dividend for at least the last 10 years: [Dividend Growth Stocks](http://www.dividend-growth-stocks.com/2012/08/10-stocks-that-have-paid-uninterrupted.html?utm_medium=twitter&utm_source=twitterfeed).

Our current place in the secular bear which began in 2000: [Zeal](http://www.zealllc.com/2012/bearloom.htm). Perhaps the market *price* low occurred in March of 2009, with the *valuation* low still years ahead.

No wonder the stock market is such a tough place! [Go Comics](http://www.gocomics.com/reallifeadventures/2012/07/28)