Sicilianthing

Lies, Trickery and Deceit...

And you're living in it...

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When I moved to Sarasota in 1999 I was invited by a prominent local to an "un-wedding wedding" to make new friends in town. I accepted the invitation and, not wanting to display my ignorance, avoided asking the burning question, "What's an un-wedding wedding?"

Inevitably I found out what an un-wedding wedding is. It's a full-blown wedding, only the host isn't actually getting married. They want to get married but aren't, and go through the motions anyway.

The t***h about the manipulation of celebratory events to fabricate optimism about a desired future reminds me of the state of housing in America today. Here's why…

Celebrating Housing Market's Recovery Is a Mistake

There's no reason to celebrate anything in the housing market's un-recovery recovery.

Past and present manipulations must be continued to prevent collapse, but they won't help economic growth in the United States as they did until 2000. Instead they'll only act as a headwind from time to time.

Take February housing "starts" for example, they were down 17% from January. The annualized single-family starts number for February was 593k units, which was essentially flat from the year-ago February 2014 starts number of 589k.

According to the Commerce Department, "Start of construction occurs when excavation begins for the footings or foundation of a building." David Stockman, the former head of the Office of Management and Budget in the Reagan administration, says slow starts aren't as much weather-related – although February 2014 and 2015 were especially cold months in the East – but about swings in interest rates.

At his DavidStockmansContraCorner.com site in a column titled, "Pulling on a String: The Fed's Spectacular Failure to Stimulate Housing" Stockman explains:

"The seasonal adjustments are supposed to factor in weather," said Stockman. But the raw unadjusted, non-annualized starts number for February 2015 was 40,700. In February 2014, it was 40,600. In 2009, it was 25,000. In 2005, starts were 124,000 and in 2000 they were 88,000 units.

He makes the case that rather than weather being the reason starts fluctuate so much over the same month of different years, Federal Reserve manipulation of interest rates has caused the wild fluctuations.

"In short, in the name of improving upon the alleged instability of the private economy – absent the Fed's expert ministrations – the geniuses in the Eccles building have actually caused the rate of housing starts to gyrate wildly," said Stockman.

Stockman goes on to say that the U.S. economy isn't analogous to a giant bathtub, as Keynesians might suggest, as pouring, "demand into the housing market through what amounts to cheap, subsidized interest rates (from the hides of savers) and, presto, activity rates will soar."

That hasn't happened.

Residual Free Market Props Are Suppressing the Housing Market

New home sales in February rose 7.8%, to a seasonally adjusted 539,000 units. That's the the best number for new home sales in seven years. Still, according to a graph on the NAHB's website, new single-family home sales going back to 1978 shows that current levels of sales are barely approaching 1980 levels. They are more than 50% below average sales from the period between 1980 to 2006.

While new home sales, which make up one-tenth of home sales, on the surface looked robust in February, existing home sales rose a scant 1.2% according to the National Association of Realtors.

That's what I call an un-recovery recovery, or a bum wedding.

Free market capitalism wedded to democracy yields a living, changing economic system that thrives on creative destruction and withers under socialist-style command and control. The Federal Reserve's interest rate manipulations over the past 20 years only prove they are incapable of fostering natural growth in the economy.

The Fed never should have been allowed to manipulate rates so low for so long to inflate the housing bubble in the first place. Fannie Mae and Freddie Mac had to be bailed out, but by now should have been dismantled. They're backing more mortgages now than ever before

lpnmajor Loc: Arkansas

It's even worse than that. With the millions of forced foreclosures, 1000's of investors are buying them up, renting them out and then selling "bundles" of them on the stock exchange. Here's what happens; a $200,000 home is sold, with a $20,000 commission, sold with others as a bundle with another $20,000 commission. The seller takes a $50,000 profit and the next buyer of the bundle pays another $20,000 - and within 5 years, the $200,000 home is really worth - nothing, as all potential funds have already been allocated.

The rent, meanwhile, has been climbing, as each successive buyer tries to make a profit, the renters default, the home remains empty, resulting in the entire bundle defaulting - and here we go again. The originators of this s**m, will have made trillions by the time it happens - because they will have purchased default insurance, that pays when the bundles default - so they make money on BOTH ends.

It's a total s**m. Selling and taking profit for "investment packages" that you KNOW will default, buying default insurance on them and getting paid again from someone else's profits - all in the full confidence that the American public will cover the shortfalls - again.

alex Loc: michigan now imperial beach californa

now they have started another boondoggle called the HARP program

Sicilianthing

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You're scaring me... spread the word about this...

Get it to the committees in your state..etc...

This is a total S**M on the people's Backs again...

I was afraid it would come to this... and the Commercial properties are next...

Sicilianthing

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Send this to your REPS...

Hold em' accountable for supporting Treasonous Economic Activities against the People's best interests....

Put the Banksters and Slime(wall)Street DickHeadClowns on Notice....


Spread the word...

Terry Hamblin

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The Federal Reserve started as The First Bank of the U.S. in 1791 on a 20 year charter. When the charter lapsed it was not renewed but the banks lobbied relentlessly to get a new charter which they did around 1830 as the Second bank of the U.S. The reason that the Second bank was chartered was instability in the financial markets. The charter was renewed again around 1850 and continued until Lincoln revoked the charter I think in 1863 and started printing government "greenbacks" thus eliminating Federal Reserve Notes and the associated interest paid to the banks. After Lincoln's death, (wonder who had him k**led?), the banks again lobbied ferociously to install the Federal Reserve banking system again on the gold standard, The Wizard of Oz was written about the Federal Reserve and the gold standard, (yellow brick road, get it?) At any rate the banks behind the Federal Reserve have loaned a bunch of money to the U.S. Treasury and they will want that money back, with interest!
In 2011 I bought a house that had been foreclosed on by Fannie Mae. At that time it was hard to buy a home because the investors were snapping them up for cash as was said earlier. I only needed a small loan so it was handled through a small bank. The small bank in turn sold my mortgage to Bank of America and Bank of America sold it to.......wait for it! Fannie Mae!!!

Dummy Boy Loc: Michigan

It isn't news to announce that our economy is a Potemkin Village...paper printed with pyramids and dead presidents is fiat money...yippee...you just figured this out.

Sicilianthing

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Now that Terry, I did not know... or atleast don't remember them doing it that far back... but makes total sense now connecting the dots...

Yes they did MURDER Lincoln and disguised it...

So now fast forward... and you see Yellen doing everything short of ordering a HIT on Rand and Ron Paul among others....

They've murdered 20 or so Bankers in the past 18months... who I think may have held clearances or priveleges to very sensitive banking INTEL...

Oooops, I wasn't suppose to say that ! ?

Damn, I need MORE COW BELL !

Sicilianthing

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You know wattimean !

Now spread the word... you can't trust your own bank soon...or SlimeStreet...

And if this keeps up we'll all be ROBBING the local Banks for our CASH !

jelun

Please tell me where brokers are making a 20% commission. I will move immediately.

Babsan

This all started with Billary Clinton in the 90's and the "redlining" saga and banks being demanded to loan money to people who couldn't pay .Obama's Acorn were the terrorists that did the dirty work for the Feds then.I remember well how the ACORN C****es behaved

jelun

Yes, of course. You have it exactly correct.
See if you can't slip it into a Texas textbook.

Sicilianthing

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Post the ACORN behavior here... please... I can't remember it alll....

jelun

It was terrible stuff.
Teams registering people to v**e... worked toward improving schools and housing... those darned socialist ideas, empowering the poor...

alex Loc: michigan now imperial beach californa

now instead of the lies you just posted how about telling the t***h