I still believe the best currency is gold and silver, and this is not the perception of most people. They believe gold and silver are speculative investments. - *in Business Intelligence Middle East* *Rel...
"We have inflation now. If you go to the shop, whether it's groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US" - *in MWC News* ...
So I'm flipping through the channels late Wednesday night and I stop on O'Reilly visiting with Lou Dobbs. I notice that they're talking about oil prices so I figured I'd give it a listen. As the interview...
Real (constant currency) federal total receipts continue to contract as the federal budget (Jim's Formula) rolls over. This vicious cycle is characteristic of a Great Depression (or Recession). Vicious cyc...
Posted: Apr 22 2011 By: Greg Hunter Post Edited: April 22, 2011 at 10:23 pm
Filed under: Greg Hunter
Greg Hunter’s USAWatchdog.com
Dear CIGAs,
More and more, I am finding stories produced by the mainstream media where the headline doesn’t jibe with the actual story that follows. A USA Today (newspaper) story from the “Money” section yesterday is a great example of what I am talking about. The headline read “Rising home sales point to a recovery.” On the very next line, just under the headline, the sub-headline read “Prices expected to keep falling 5% to 7% this year.” So we have a recovery but prices are falling? What kind of a recovery is that? The story goes on to say, “Sales of existing homes rose slightly in March but prices fell as the U.S. housing market continues to struggle.” (Click here to read the complete USA Today story.)What are the writer and editor at USA Today thinking or even trying to say? This sounds like a story about a struggling real estate market and, in fact, all the evidence says the market is struggling. It is certainly not recovering.
For evidence of a struggling real estate market, I look no further than the USA Today story. It said, “Yet median prices in March dropped 5.9% from March 2010 to $159,600. Distressed homes accounted for 40% of sales, up from 35% a year ago, the NAR says. Distressed homes, such as those in foreclosure, typically sell at a 20% discount and pull down market prices.” Let me get this straight, “median prices in March dropped 5.9% from March 2010,” and the USA Today story is projecting prices will fall another “5% to 7% this year.” How is this a recovery in real estate? On top of that, the “Rising home sales” are comprised of “40% distressed homes.” That’s up “35%” from last year. That means 4 out of every 10 home sales are a foreclosure, and that seems to account for much of the increase in sales. This is a recovery?
Mind you, I have done no research for this story. I got all the material so far from the USA Today story. Here’s the kicker. The story ends by saying, “High unemployment and underwater mortgages are also hurting demand. Almost 25% of homeowners with a mortgage owe more than their homes are worth. ‘This means many households that want to move can’t,’ Dales says. (Paul Dales is a U.S. economist at Capital Economics.) Home sales may rise this year, but ‘a meaningful recovery is a few years away,’ he says.”
More…
On the Relationship Between "Increased" Food Prices And Restaurant MarginsPosted: Apr 22 2011 By: Greg Hunter Post Edited: April 22, 2011 at 10:23 pm
Filed under: Greg Hunter
Greg Hunter’s USAWatchdog.com
Dear CIGAs,
More and more, I am finding stories produced by the mainstream media where the headline doesn’t jibe with the actual story that follows. A USA Today (newspaper) story from the “Money” section yesterday is a great example of what I am talking about. The headline read “Rising home sales point to a recovery.” On the very next line, just under the headline, the sub-headline read “Prices expected to keep falling 5% to 7% this year.” So we have a recovery but prices are falling? What kind of a recovery is that? The story goes on to say, “Sales of existing homes rose slightly in March but prices fell as the U.S. housing market continues to struggle.” (Click here to read the complete USA Today story.)What are the writer and editor at USA Today thinking or even trying to say? This sounds like a story about a struggling real estate market and, in fact, all the evidence says the market is struggling. It is certainly not recovering.
For evidence of a struggling real estate market, I look no further than the USA Today story. It said, “Yet median prices in March dropped 5.9% from March 2010 to $159,600. Distressed homes accounted for 40% of sales, up from 35% a year ago, the NAR says. Distressed homes, such as those in foreclosure, typically sell at a 20% discount and pull down market prices.” Let me get this straight, “median prices in March dropped 5.9% from March 2010,” and the USA Today story is projecting prices will fall another “5% to 7% this year.” How is this a recovery in real estate? On top of that, the “Rising home sales” are comprised of “40% distressed homes.” That’s up “35%” from last year. That means 4 out of every 10 home sales are a foreclosure, and that seems to account for much of the increase in sales. This is a recovery?
Mind you, I have done no research for this story. I got all the material so far from the USA Today story. Here’s the kicker. The story ends by saying, “High unemployment and underwater mortgages are also hurting demand. Almost 25% of homeowners with a mortgage owe more than their homes are worth. ‘This means many households that want to move can’t,’ Dales says. (Paul Dales is a U.S. economist at Capital Economics.) Home sales may rise this year, but ‘a meaningful recovery is a few years away,’ he says.”
More…
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