First let's go to the slant. The Wall Street Journal spun the tall tale that "U.S. Existing-Home Sales Rebounded in September." The Journal also claimed that the "Rise ends two-month slide as housing sector shows signs of stabilizing." As for the facts, I can only say that either the Wall Street Journal's reporters have no clue how to read the actual data that lies beyond the headline numbers, or that there is something absurdly wrong with the NAR's seasonal finagling algorithm. On second thought, I'll say both.
Wall Street Journal's Home Sales Reporting Is Not Only Wrong- It Isn't Even Journalism
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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.