For those of you who have read my postings regarding government I'm not merely skeptical I'm scornful. I mean please, 45,000 new construction jobs to measure unemployment? Construction? Lower energy and gasoline prices to help the inflation figures? Gasoline? Give us a break. Are we really that stupid to believe such tripe?
If you would like to know why and how the economic statistics have become so distorted as to meaningless, please, do yourselves a favor and read this article. It will make you weep for our nation.
Gee how to answer that? Maybe it is because Monday AM I started posting that all this housing stuff was not important and you should be looking at oil prices and inflation expectations. Timing indicators were pointing to a market revesal. The only question I had was what could bring that about.
We all know what happened Tue and Wed and I think it is clear as to the reasons.
Maybe my insights were superior because they were right. If being right is not important to you then they were not superior for you.
Cheers. My posts are meant to be informative and to provoke thoughtful reaction.
These days, for understandable reasons, Oil has gotten all the attention while the credit crisis has receded into the background noise. Something that I for one find quite strange. High energy prices may or may not be temporary. We will adjust, make life-style changes or not and move on with our lives. But the bursting of the housing bubble grinds on. I still think it is the biggest threat, by far, to our economy. Which goes hand in glove with our high debt levels. Prosperity cannot be built on mountains of debt. Our economy rests on quicksand. What do our leaders offer as advice? They give us money (a stimulus check) and tell is to shop. Hmm.