2009-11-24 — blogspot.com
" Yes, existing home sales were up. But between the effect of last-ditch efforts (before it was extended) to get the $8000 tax credit, falling prices and most of all the ongoing subprime-condition FHA loans and the Fed's securities purchases, is the rise such a surprise? It may lift Wall Street for a bit, but, as Calculated Risk pointed out a few days ago, existing home sales are irrelevant for the economy. Inventory remains sky-high, and that's just the homes that actually counted."
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tvsterling at 23:47 2009-11-24 said:
Four or five trillion in bonds to be sold next year; anyone in the market for a good safe investment at 0% interest? Sovereign Debt Default is moving out of the shadows. The banking & real estate markets are in shambles; Held up by free money giveaways. Commercial Real Estate drawing back for a death blow to banking despite anything the government can do. The Standard & Poors P/E ratio at 140. The country's industry gutted by decades of offshoring. It's a perfect storm. Is this the FED & Banksters Christmas present to the nation? Permalinkadd a comment | go to forum thread
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