The Housing Market Recovery Has Vanished - By Mac Slavo (12/8/11) PDF Print E-mail
Mac Slavo   
Friday, 12 August 2011 10:34

SHTFplan.com

Any glimmer of hope that the housing market will stage a recovery in the upcoming months has vanished, thanks to the recent spate of bad economic news that has been making headlines over the past several weeks.

According to the latest analysis of home price trends in 384 markets based on the Fiserv/Case-Shiller Indexes, it will be well into the first quarter of 2013 before median home prices across the nation will even be on par with prices from the first quarter of this year.

“Every piece of bad news causes more people to be more nervous,” said David Stiff, chief economist for Fiserv, which provides information management and analyses data for the financial services industry. “The stabilization of housing markets depends greatly on household confidence in the strength of the economic recovery. Unfortunately, recent economic news has done little to build confidence.”



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The Collapse: Celente Predicted It Would Happen. It’s Happening! - By The Trends Journal (11/8/11) PDF Print E-mail
The Trends Journal   
Thursday, 11 August 2011 10:20

Trends Alert

On June 13th, Trends Journal subscribers received this Trend Alert®: “Collapse It’s Coming! Are You Ready?”

In that Trend Alert®, Gerald Celente accurately predicted that a global economic collapse was imminent. “The economy is on the threshold of calamity … another violent financial episode is looming,” he wrote.

Celente warned that the trends of the Summer of 2011 paralleled those in play during August of 2007, trends that had culminated in the “Panic of ’08.”

He dismissed the assurances of world leaders that policies were in place to mitigate the escalating European and US debt crises.

He discounted “media experts” promoting an imaginary recovery or debating the prospects of a double-dip recession.



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Day Of Reckoning - By Llewellyn H. Rockwell Jr. (11/8/11) PDF Print E-mail
Llewellyn H. Rockwell Jr.   
Thursday, 11 August 2011 10:14

Mises Daily

[FF Editorial: If truth be told, since 2006 and thereafter repeatedly and consistently, we have been saying and warning the world and Malaysia in particular that the US$ is mere toilet paper and it is not the worth of the paper in which it is printed. We disagree with the author on one point only – the Emperor indeed has no clothes, is naked and absolutely bankrupt and not “emperor’s clothes, while beautiful might have been more carefully tailored to suit the imperial dignity. Blood is flowing in the streets already. Look at London. This is only the starters. Be prepared!].  

The trigger that apparently caused the market meltdown was the ever-so-slight suggestion from Standard & Poor's that the US government's fiscal health might not be all it's cracked up to be.

This was not a case of the little boy noting the emperor has no clothes. It is more like the little boy suggesting that the emperor's clothes, while beautiful, might have been more carefully tailored to suit the imperial dignity. Hysteria followed, and the entire Obama cult called for the kid to be stoned.



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Marc Faber: "The Best Thing The Fed Could Do For Markets Would Be To Collectively Resign" - By Tyler Durden (10/8/11) PDF Print E-mail
Tyler Durden   
Wednesday, 10 August 2011 10:32

Zero Hedge

In a Bloomberg TV interview following today's quixotic "QE3 / non-QE3 announcement, which is Operation Twist 2, but not LSAP, and ushers in economic recession, even as it sends risk assets soaring, and somehow pushes the 2 Year a whopping 20 bps tighter so buy, buy, buy" and is really very much ado about nothing, the always outspoken Marc Faber had some very choice words about life, the universe and especially the residents of the Marriner Eccles building. While there still appears to be some confusion as to whether today's Fed decision to peg rates at zero for 2 years is QE3 or not, Faber believes that the decision to not enact more Large Scale Asset Purchases is "the right thing" although when it comes to the market, it "is more likely to move still lower. We are very oversold. We can have a rebound like we did today, maybe we'll have a rebound next week or so, but in general I think we will test the July lows of last year, the S&P at 1,010.  After that, probably we'll get probably a QE3 announcement." Naturally, Faber does not think gold is in a bubble, and as to what one can do with gold, his response is that "you give your girlfriend copper rings and I give them gold rings and I keep them longer." Indeed, no bubble there. Last but not least is his suggestion what the Fed should do: "The best [the Fed] could do for markets would be to collectively resign." Precisely, which is why it will never happen.





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On Perpetual ZIRP - By Bruce Krasting (10/8/11) PDF Print E-mail
Bruce Krasting   
Wednesday, 10 August 2011 10:26

I had this to say last week:

The Fed could easily attempt to buy some market peace by issuing a statement that the policy of zero interest rates would be extended for a minimum period of one year. I consider this to be a “high probability" to happen in the next 30 days.

I got it right, but I got it completely wrong. I feared that the Fed could extend the ZIRP language for as long as a year. Not in my wildest dream did I think they could take the extremely risky move of guaranteeing that interest rates will remain at zero for another 24 months. Having been shocked, my thoughts.

This action is indefensible on economic merits. This move is not motivated by sound monetary policy. It’s motivated by politics. This is a payback to Obama. Shame on the Fed for mixing politics with money.



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