Posted on 12/20/2012 2:06:02 PM PST by whitedog57
Prices over the last months have been skyrocketing.
Existing home sales rose to 5.04 million units in November, more than expected. Existing home sales are almost back to 1999 levels! [Note to government: PLEASE don't do anything like the National Homeownership Strategy again!] nhsdream2
The FHFA Purchase Only House Price Index increased +0.5% in November, more than the expected +0.3%.
The final Q3 GPD printed at 3.1%, more than the forecast 2.8%%. The print was mostly due to government expenditures and growing inventories. Offsetting the government-induced rise in GDP was the decline in leading economic indicators, down -0.2% in November after an increase of +0.2% in October.
The Bloomberg Consumer Comfort Index rose to -31.9, although it still hasn’t breached 0 since the recession that ended in June 2009.
The Philadelphia Fed Business Outlook Survey Diffusion Index General Conditions rose more than expected following Superstorm Sandy that devastated my Jersey shore home of Sea Bright and Rumson.
Finally, we can see that the last six months have seen big increases in many (not all) commodity prices. Is this the start of … dare I say … hyperinflation? It’s time for The Fed to take its foot off the accelerator.
So as we approach the fiscal cliff, we had some good economic news. Whether it can be sustained, that is another question.
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(Excerpt) Read more at confoundedinterest.wordpress.com ...
It’s not inflation. It is just a sign of a booming economy.
Hahahahahaha
Lets see there is that thing called Inflation and top that with the Fed pumping 45 billion a month into the bad loans stuff I believe the bubble is still being falsely held up...
On the other hand, if you believe these numbers haven't been at least a little cooked, I have some great unemployment numbers for you.
Why have you excerpted your own blog? Looking for a few hits?
Not $45b. After the first it turns into $85b.
You know in a normal sane world that 40billion would make a big difference, but hey we are in the world of illusion where everything is peaches and cream...
Boy do we have a reckoning coming, and it is well deserved in many cases (the sheep/sleeping public). The ones that would ask, By the way when is the next episode of American Idol? Freedom is earned and requires vigilance, too many (not all) never earned it and surely are not vigilant in protecting it.
Existing home sales rose to 5.04 million units in November,
5.04 million units (houses) in November? At that rate 60 million houses per year? Reality check time!!!
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