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”.