Obama lies and Market goes up. Beware!

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

  1. Neubarth

    Neubarth At the Ballpark July 30th

    Nov 8, 2008
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    Obama and his toady minions lie and Market goes up. Beware!

    After Obama put his foot in his mouth more than one time and tanked the market, he and his advisors decided to start being positive about all that they said.

    Well, I feel that is as bad as putting his foot in his mouth and tanking the market, because now they are deliberately trying to get people to buy into a failing economy.

    You saw it spread all across the country today that Housing starts were UP TWENTY TWO PERCENT. That wonderful news caused a lot of foolish investors to buy into the market convinced that we were bouncing up from a market bottom. If anybody researched the issue the would have found that the Housing start numbers were actually horrible compared to the norm.

    Here are some numbers to look over. The norm is about 1.1 MILLION housing starts every month. In 2007, we were seeing reports of 1,300,000 housing starts in October or thereabouts.
    Well, the economy started to fall and here are the numbers for 2008 to the present.

    Housing Starts:
    June 1,066,000
    July 965,000
    Aug 895,000
    Sep 828,000
    Oct 791,000
    Nov 625,000
    Feb 583,000

    The overall trend is strongly down. a momentary blip from one month to another is insignificant, especially when the degree of accuracy is plus or minus 14% which is the case in housing starts.

    Well, they got their rise in the market, but all that means is that people who have thought they were catching the stock market at the bottom are going to lose another 30 % or more in the coming fall.

    I repeat, there are no data to indicate that the collapse of the economy is slowing down. It is falling to hell.

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