Rantings and tirades of a frustrated economist.
Oh thank Heavens. I was beginning to worry.
All praise to the Bernanke, we are saved.
It's all in how the information is presented. I remember there was a race back in the 70's between the Russian car (there was only one since it was state built - like Obama Motors) and a Ford. It's important to know there were only two cars in the race. The Ford easily won - however the Russian newspaper reported, that the Russian car came in "Second", where as the American car came in "Next to Last"... That is how the newspapers of today in the US operate... Lies, and Damned Lies... those are your choices...
And the russian car was built in the factory that was set up by Ford.
change the graph to annual summation, it's even more telling.
Heard this recently: "Other landlords used to laugh at me for renting to disabled people. Now their tenants are out of work and months behind on rent, while mine are still paying.""Do we accept Section 8? Actually, we prefer it, because the rent gets paid on time."Two Pakistani brothers immigrate to England with their wives and many children. Qualifying for a generous rental allowance, each buys a house and rents it to the other. In twenty years, they'll have scored two free houses!And you fools are bearish on housing...
lol. Let's see what happens to housing once the Fed stops with the ZIRPs and QEs.
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