Homebuilder Confidence in US Falls to Lowest Level Since April of 2009 Bloomberg -

[Neubarth]

Homebuilder Confidence in US Falls to Lowest Level Since April of 2009
Bloomberg - Bob Willis - ‎15 minutes ago‎
Builders in the US turned more pessimistic in July than forecast, a sign the expiration of a government tax credit will depress home construction.
Home-Builder Confidence Drops Wall Street Journal
U.S. home builders' index falls to 15-month low MarketWatch


Today's headlines.


As I have said for years, it will be a slow motion falling house of cards. Deeper and Deeper into Depression. But at least, it will be gradual so nobody will be alarmed.

 

[Douger]

There is zero future in home building. Jail building, on the other hand.....................you'll see.

 

[topspin]

lol, let me guess niether of you are rich?

 

[FA_Q2]

lol, let me guess niether of you are rich?

What is your point top? They are right, now is a terrible time to build.

 

[Pepe]

As I have said for years, it will be a slow motion falling house of cards. Deeper and Deeper into Depression. But at least, it will be gradual so nobody will be alarmed.

I will have to sadly agree that the future of the Empire looks bleak.

Several economic thoughts come to mind:

The "Boomers" are retiring in record numbers as the economy slides down the same path the PIIGS took.

This puts extreme pressure on the non-existent SS "Trust Fund."

Did I mention Medicare?

Or SS Disability with 6 million applications in backlog.

Did I mention that when folks retire they quit buying a lot of "stuff."

I am sure I failed to mention the millions of Liberal "Sheeple" who sent their little offspring to pay your fees and get your B's University where the darlings majored in Art Appreciation, Black Studies, Womens Studies, Phys Ed and who leave to go into the "Real World" 100K in hock and absolutely no job prospects.

The Taxpayers are going to bend over and take 1/2 Trillion up the hershey highway on Sallie.

I bet I forgot to mention the Trillion dollar "haircut" the Taxpayers are gonna take on Fannie and Freddie which were NOT part of Financial Overhaul.

BUT the 800 pound Gorilla in the room is Service on the Debt.

When Interest Rates begin to rise to normal, 5%-8%, and with even the Dems espousing that the "Official" National Debt will be 20-24 Trillion by 2015, I would suggest that what few Taxpayers remain stock up on KY Gel.

I'm sure I haven't mentioned the 127 Trillion in "Unfunded Liabilities."

AND I damn sure don't need a PhD in Economics to tell me that when total expected Imperial Revenue for FY 2010 is 2.4 Trillion and that Outlays for the Big Four, ie; Social Security, Medicare, Medicaid and Interest on the Debt will consume 2.2-2.3 Trillion of that 2.4 Trillion..................

There is serious trouble within the Empire.

 

[Neubarth]

The sad reality is that everything is collapsing.

 

[Neubarth]

Are you ready for reality?

Here it comes. Duck and Cover.