"Housing Starts " Economic Report due this week

Discussion in 'Economy' started by Neubarth, May 17, 2009.

  1. Neubarth
    Offline

    Neubarth At the Ballpark July 30th

    Joined:
    Nov 8, 2008
    Messages:
    3,751
    Thanks Received:
    199
    Trophy Points:
    48
    Location:
    South Pacific
    Ratings:
    +199
    "Housing Starts " Economic Report due this week


    The Obama administration lies like hell about each and every weekly and monthly economic report as they come out. Reports that have a 20 percent margin of error are trumpeted loudly if they show a two percent increase over the week or month before. INSANITY! But it fueled a two month stock rally that just stopped a week ago.

    The housing starts report is one of them. It is due this week and any positive change will be yelled about as if the economy has returned to normal and full employment is a week off. The Housing Starts report has a forty percent chance of error on the initial report and is very unreliable as it does not differentiate between an apartment housing unit and a king sized home. If 100,000 one bedroom studio apartments are started, that is counted the same as if a 100,000 tract of luxury homes were started. To start, all they have to do is turn a shovel over. They don't have to be completed, just started to qualify for the report.

    We used to have two million housing starts per month before the Depression started two years ago. Those two million fell to

    1,957,000 in May of 2007 and down to
    1,525,000 in March of 2008 and
    572,000 in May of 2009

    That is right, we are down to one quarter of the housing starts in two years time. That essentially translates to 3/4th of the workers who used to work those housing starts not having work any more. FRIGHTENING!

    It has been a steady fall from two million to half a million, but if it goes up to 573,000 in the April report out this week, Obama will try to use it to get the Stock Market to Rally. That will be funny as hell if he can do it. There is a fool born every second. Obama knows it is true.
     

Share This Page