Market Observations 06/06/07
Two faced ECB Fed Head, Jean "Tricky" Trichet raising rates and signaling further room to raise without harming growth.
Morgan Stanley issued a "triple sell" rating on European equities, with expectations of a 14% correction over the next 6 months due in part to today's ECB rate hike.
Dissenting Fed President Jeffrey Lacker said he sees no significant moderating trend yet in U.S. inflation...
and that it's difficult to gauge whether the housing market correction has reached bottom. Ya think?? Keep wondering "how low" and "how long"?
A month ago, the paid liars at NAR expected 2007 home sales to decline 2.9% and home prices to slide 1% in the first price drop on record.
Today, the NAR reconsidered and said home sales will fall 4.6% and home prices will decline 1.3%.
But, I really want to know what kind of crack these guys are smokin... coz the report also said...
Prices will begin to rebound in Q108 and grow for the rest of the year. And... the U.S. economy probably will expand at a 2% pace in 2007, compared with 3.3% last year.
A Nattering Newsflash for the paid liars at NAR...
Housing inventory at 8.4 months, an all time high and level unvisted since 1992. GDP is about to go to zero growth and probably negative by Q3.
The 5 year cornerstone of an emasculated yield chasing and non durable money shuffling economy, new home construction, has plunged 33%.
Commerical construction is just starting to contract and the latency in layoffs throughout the construction and service industry are just starting the dominoe effect.
In short, the economy, stock, bond and housing markets are all dead men walking. The Nattering One has 7 little words for the new global economic disorder...
Bend over, grab your ankles and relax... Coz before the end of this year, your getting a deep rectal exam, whether you like it or not, so you might as well enjoy it.
Morgan Stanley issued a "triple sell" rating on European equities, with expectations of a 14% correction over the next 6 months due in part to today's ECB rate hike.
Dissenting Fed President Jeffrey Lacker said he sees no significant moderating trend yet in U.S. inflation...
and that it's difficult to gauge whether the housing market correction has reached bottom. Ya think?? Keep wondering "how low" and "how long"?
A month ago, the paid liars at NAR expected 2007 home sales to decline 2.9% and home prices to slide 1% in the first price drop on record.
Today, the NAR reconsidered and said home sales will fall 4.6% and home prices will decline 1.3%.
But, I really want to know what kind of crack these guys are smokin... coz the report also said...
Prices will begin to rebound in Q108 and grow for the rest of the year. And... the U.S. economy probably will expand at a 2% pace in 2007, compared with 3.3% last year.
A Nattering Newsflash for the paid liars at NAR...
Housing inventory at 8.4 months, an all time high and level unvisted since 1992. GDP is about to go to zero growth and probably negative by Q3.
The 5 year cornerstone of an emasculated yield chasing and non durable money shuffling economy, new home construction, has plunged 33%.
Commerical construction is just starting to contract and the latency in layoffs throughout the construction and service industry are just starting the dominoe effect.
In short, the economy, stock, bond and housing markets are all dead men walking. The Nattering One has 7 little words for the new global economic disorder...
Bend over, grab your ankles and relax... Coz before the end of this year, your getting a deep rectal exam, whether you like it or not, so you might as well enjoy it.
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