Don’t be fooled by a small jump in the Dow. media ignoring important indicators and it’s bad
Watching the flow of financial news has become like watching a magic show at the circus. In the center ring we see an impressive daily slight of hand trick. It turns our attention from the truth to only what Obama wants us to see. Although this changes regularly it never focuses on hard data.
The schizophrenic Democrats can’t decide if they hate Wall Street ( while they are beating it up for their own purposes) or they love Wall Street - when the Dow goes up. Lately the Dow has been going up and of course the media and the Democrats are all bragging about its progress. Headlines giddily screamed, “Dow Jumps on Good news!” The truth these clowns are hiding is ugly and frightening.
The mortgage default rate is at record high levels.
The number of “seriously delinquent” FHA mortgages is up 1.5% in February year to year comparison.
FHA –insured mortgages (taxpayer paid for) for fourth quarter of 2008 were at 30% compared to only 2% in all of 2006! This is the largest jump in defaults EVER and doubles last year’s rate.
Don’t believe the slight up tick in new home sales means anything – it doesn’t.
The Commercial real estate market is still worse. Choice big city commercial asking rates are down 19% and the market is still sagging. The commercial vacancy rate has soared to 11.3% near double last year’s level.
When no new businesses are opening; no new employment opportunities are developed.
The employment picture is very discouraging.
Janet Yellen of the San Francisco Fed, recently said she predicts unemployment will grow straight through 2009 and on into 2010.
The socialists’ huge spending sprees will choke the life out of our country. This is a time to step up and fight. We have to…
(Excerpt) Read more at collinsreport.net …
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