3 replies to this topic

[.Blizzard]

U.S. new-home sales in West down 50.4% y-o-y
10:00 AM ET, Feb 28, 2007 - 5 minutes ago
06. U.S. new-home sales fall 20.1% year-on-year
10:00 AM ET, Feb 28, 2007 - 5 minutes ago
07. U.S. Jan. median home price down 2.1% y-o-y
10:00 AM ET, Feb 28, 2007 - 5 minutes ago
08. U.S. Jan. new-home inventory rises to 6.8 months
10:00 AM ET, Feb 28, 2007 - 5 minutes ago
09. Drop in new-home sales largest in 13 years
10:00 AM ET, Feb 28, 2007 - 5 minutes ago
10. U.S. Jan. new-home sales plunge 16.6% to 937,000
10:00 AM ET, Feb 28, 2007 - 5 minutes ago
11. Bernanke's prepared remarks don't mention Tues market drop
10:00 AM ET, Feb 28, 2007 - 5 minutes ago
12. Bernanke repeats warning on U.S. budget outlook
10:00 AM ET, Feb 28, 2007 - 5 minutes ago
13. Bernanke urges Congress to reduce budget deficit
10:00 AM ET, Feb 28, 2007 - 5 minutes ago

[OEXCHAOS]

I think I'd let the market tell you when the recession was under way. It typically will lead a bit. M

[.Blizzard]

For Manufacturing, a Recession Has Arrived

[MaryAM]

The artificially low interest rates in prior years has created a housing bubble and enticed people to borrow against an inflated asset and spend that money. Of course - all the low interest rates just about killled the savings of retirees and their pension funds - about 1/3 of our population. We have been seeing a debt based econonomy and the total debt out there is compounding faster than income - mathematically impossible to be sustained. As for China, at some point the American consumer wont' be able to buy their crap. Where will they find another consumer base? Then their economy will tank as will ours. Historically every advanced economy needs a recession (depression) every 30 years or so to re-set a balance. Thanks to Nixon taking us off of a real currency in 1971 we skipped a balancing period. When this economy does correct and balances debt to income ratios its going to get really bad. Mary Anne