For the rest of us, its less of a shock:
Sales of new U.S. homes unexpectedly tumbled in September, their first drop in six months, underscoring the hazards to an economic recovery even as businesses appeared to be stepping up investment.
New single-family home sales fell 3.6 percent to a 402,000 unit annual pace from a downwardly revised 417,000 units in August, the Commerce Department said on Wednesday. Analysts polled by Reuters had expected sales to rise to a 440,000 unit pace.
Unexpectedly? Unexpected by whom? For crying out loud, the only thing keeping any home sales going at all is the $8,000.00 tax credit and there’s only so many first time home buyers out there, ya know? With rising unemployment and increasing foreclosures, what on earth makes anyone think we can have a housing recovery?
Oh, yeah – I forgot: Obama fixed the economy and all’s well.
In a pig’s eye.
We’re broke. We’re in debt up to our eyeballs. We’re losing jobs. Our wages are falling. There’s no way that we, the people, are going to spend our way out of this mess…and that is what Big Government and Big Corporation are counting on…and we’ve had this massive run up in stocks because a bunch of suckers bought the notion that, some how, an increasingly impoverished people can be made to go on a spending spree when they’re broke and in debt. Obama flashing the cash at special interest, big corporations and a few people just won’t do the trick – especially since its borrowed cash which we, poor as we’re becoming, will have to pay back.
Monumentally stupid.
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