In the game of beat the expectations, new home sales won one this month, but the outlook is grim. The headline number came in at 592,000 versus the consensus guesstimate of Wall Street economists of 593,000. The headline number is usual fiction of the annualized version of a seasonally adjusted representation of reality.
Housing- The Seed of the Poisonous Weed
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.