The Commerce Department on Friday said October housing starts surged, rising 13.7% to a seasonally adjusted annual rate of 1.29 million.Obviously, "surge" is a very different thing than "flat" or "punk", but those latter terms are exactly what was reported by the Commerce Department this AM.
Here We Go Again—Swell Numbers Which Aren’t
According to the financial press we have had some swell economic numbers in the last two days---so it's giddy-up-and-go time for the stock market again. Thursday's industrial production number was allegedly gangbusters and today's housing start figure for October was described as a "boom" by the incorrigible headline writers at MarketWatch:
