Posted on 12/11/2012 8:09:37 AM PST by whitedog57
he Good: Job openings in construction rose to +48 after several months of little progress.
The Bad: The Small Business Optimism Index fell to its lowest point since March 2010.
The Ugly: The Investors Business Daily (IBD) and TechnoMetrica Market Intelligence (TIPP) economic optimism index fell to 45.1 in December, down 3.5 points from a month earlier. A reading over 50 indicates a positive outlook while a reading below 50 signals a negative outlook.
On the ugly side, the USA trade balance with the Pacific Rim (China, Japan, etc) fell as well.
On the mortgage/MBS side, Ginnie Mae 15 year current coupon rates fell slightly to 1.585%. Wow. No wonder The Fed is purchasing agency MBS – they must think yield is like golf, the lower the better.
With sinking confidence in the economy and other negative indicators, The Fed is likely to ramp up bond and agency MBS purchases tomorrow. As if that will do any good with plunging M1 Money Multiplier and M2 Money Velocity.
(Excerpt) Read more at confoundedinterest.wordpress.com ...
Obama knows he can't blame Bush anymore, so this whole fiscal cliff charade is Obama trying to affix blame to Republicans for what he knows lies ahead.
Remember the campaign? There were leaks that Obama was affraid that Romney would get elected and then he could take credit for the economic turnaround that was just arount the corner. Remember the corrupt, partisan MSM telling everyone that Happy Days are here again and that the economy was picking up?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.