As risk markets screamed higher on more dope-hope from the US Fed today, the US housing data continues to be uniformly bleak. (Well actually economic data has been disappointing 2 for 1 to any upside surprise in each release this month.) But who’s counting? Who needs a growing economy, or customers or jobs when you have the ever liquidity-pumping central banks to goose stock prices higher? US Food stamps certainly are a high growth sector, at now over 47 million users, new enrolments are topping 400K a month. Don’t worry, be happy the Fed has our back. Oh wait, no, the Fed works for the banks. Wait who will bail out individuals when their retirement savings implode again ahead? Here is a direct link.
Here is another direct link on the plight of housing–the US economy’s “life blood”.
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I’m very proud of you Danielle. You seem less and less afraid of posting the truth – no matter how negative – where so many others will continue to gloss over and tow-the-mainstream line (CNN, CNBC, Bloomberg etc.). You are also like this when I see you in person. You are great. Please don’t change (read ‘sell out’).
My suspicion is you will eventually come to the conclusion that Gold will be the last man standing – as repeated through history numerous times. The FED with ZIRP and money printing (monetizing their own debt) is destroying the entire financial system… and they are beyond the point to be able to reverse it. We are approaching the greatest wealth transference in history.
New home sales in the US are not selling but existing home sales are, and in fact are at a level before the recession began. If you are going to refinance in the US or buy that Florida property now is the time.