The Golden Truth: More Orwellian "Spin" From The Nat'l Association Of Realtors

Thursday, January 27, 2011

More Orwellian "Spin" From The Nat'l Association Of Realtors

The "pending" home sales index was reported to be up 2.2% in December from a downwardly revised November reading. If you calculate the increase from the original number reported, the gain is only 1.6%. Here's the report: More NAR LIES. If you assume they'll end up revising down the December reading, there was likely no gain. If you assume that mortgage purchase applications filed on a weekly basis is an even better indicator, it is likely that "pending" home sales declined, especially given that the index is based on "contracts," not closings. While I haven't paid attention to cancellations for awhile, that metric is likely running around at least 10%.

The chief economist for the NAR cited a stronger economy, improving labor market and better "affordability" as the reasons for the gain, which I have shown was likely a decline. He also cites "super low" default rates on mortgages. This is either an intentional lie or complete ignorance. Foreclosures were up 2% in 2010 from 2009 and that included the foreclosure moratorium by the banks in late 2010. 2011 is projected to have record foreclosures. Wonder what reality he lives in if he really believes that garbage coming from his vocal chords...Lawrence, the golden truth will set you free.

5 comments:

danteThursday, 27 January, 2011
As far as I'm concerned just an extension of the fraud. If fraud is the system and the powers that be have done everything to make it the model...then gold is the inverse of that fraud....and why the fraudsters will do everything they can to create disdain for it and why it head higher.

If lies were bile most of our regulators would choke as soon as they opened their mouths!

Oligarchy Becomes Anarchy

Power is all about access, and evidence shows where the current power resides. National governments in full collusion and cooperation with gigantic international financial corporations, have opened the floodgates of access to the “little people’s” wealth through bailouts, Fed policy, and quantitative easing, and clanged shut the castle door of the financial elite by allowing them to establish the value of thei r own assets and to concoct, rate, and sell almost any financial asset or instrument with no accountability, transparency, or enforcement.

The Big Squeeze: Predicting the Effects of Savings Extortion and Abuse of the Middle Class
http://tinyurl.com/69lc3k9
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Dave in DenverThursday, 27 January, 2011
LOL. You just paraphrased one of the epic speeches in "Atlas Shrugged" by Francisco d'Anconia!
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JPThursday, 27 January, 2011
NAR's numbers are almost as bogus as BLM's unemployment stats. What a crock of shiite!!
===

Jobless Claims: 454,000 - Stagflation Baby (Confirmed By Durable Goods)

Submitted by Tyler Durden on 01/27/2011 08:30 -0500

Expectation of 405,000... Print: 454,000! Worst print in forever (well, October). The BLS calls it a "weather related backlog." Read - snow. Call it what it is - Stagflation, baby. Non-seasonally adjusted number came at 482,399, as 161,913 people fell off extended benefits. Continuing claims: 3,991K on expectations of 3,873K. And just to complete the stagflationary picture, durable goods decreased by 2.5% on expectations of plus 1.5%. "This decrease, down four of the last five months, followed a 0.1 percent November decrease. Excluding transportation, new orders increased 0.5 percent. Excluding defense, new orders decreased 2.5 percent."

http://www.zerohedge.com/article/jobless-claims-454000
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Dave in DenverThursday, 27 January, 2011
LOL. Dunno if you saw this JP:

http://truthingold.blogspot.com/2011/01/jobless-claims-truth.html
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EconomicDisconnectThursday, 27 January, 2011
NAR motto:
"It's always a great time to buy or sell real estate and give us a 7% commision! What you waiting for?"
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Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.