Next week OUI's will be issued to fund college grants and vendors and state employees. You can be sure that lenders will flee in droves when this happens.
Here's the summary for today's Census Department's monthly Durable Goods orders and Shipments report:
Here's my uneducated interpretation: A perfect example of optimistic spinning by the AP. They talk about new orders soaring while year over year they are down over 24%! At the current rate of deceleration it will take another year before year-over-year new orders, a leading indicator, goes neutral. The bottom for the economy is not in. Actual durable good shipments continue to accelerate downward moving from down 19.7% year over year to down 21% year over year.
USA homes fell sharply in May. First the press release:
and now the real story on the lousy home sales:
Here is some anecdotal evidence of how prices are faring in Denver which is generally in good shape with respect to the rest of the country:
What a surprise? You mean they rig the auctions to think that it was a huge success?
This is not good:
I promised you there was going to be action with respect to the Bank of America and the Fed. Enjoy reading this:
Even Warren Buffet cannot see any green shoots:
Citibank is totally bust and now they are going to give their bankers a 50% raise!! Here is the story:
I have been telling you over the past few years about the IMF gold, the German Gold and the usa gold at Fort Knox. I urge you to read the following commentary by Nicholas from Jo'burg:
I think you have a enough for one night. I will speak to you tomorrow