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AUG 26, 2013 - Zero Hedge

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Guest Post: Detroitification - It’s The Government, Stupid

Via Monty Pelerin's World blog, Facts are stubborn things. No matter how hard the Washington crowd tries to sell an economic recovery, inconvenient and contrary facts keep rearing up to shatter their mythmaking. Few people any longer believe the claims of declining unemployment or low inflation at least based on purchases they make. The fable of a housing recovery is now crumbling:  New Home Sales Plunge 13.4% in July, June Revised Lower; Blame Rising Mortgage Rates; Starts 896,000 – Sales 394,000. Two weeks ago, the same author (Mish) provided this article: Mortgage Applications ... Read More

Tags: Guest Post: Detroitification - It’s The Government, Stupid,  Federal Reserve System Latest News