FoxV wrote:
and just a few days ago I was reading on how home sales are down, and the number of houses available for sale is at a 20 year high
(Reuters article)and here we have mention that although new home sales are up, the number of unsold new homes is at a record level
(yahoo finacial article)And I also just read a few days ago about how inflation and GDP where up so rate hikes till the spring are pretty much guaranteed (sorry no link)
Can we say "Overshoot"
But hey, that's so yesterday. Today we're booming
I think we can also say the government is fibbing with their high growth reports. In our local paper, the front page of the business section is boasting how wonderful things are now, yet, turn the page and there is article after article of plant closings and thousands of lay-offs. There is a lot of creative account by the government and creative writing by the media. Someone needs to ask the people about to lose their well paying jobs and benefits if they think things are wonderful.
I heard on the TV a few weeks back that the US was paying Iraqi newspapers to print positive articles about the US occupation and what a good service the soldiers are doing for Iraq. Could it be that all of those wonderful growth figures we are getting from Washington via the media are a bit more fiction then fact?
Even after the dollar collapses, the government and its media will still be telling us everything is wonderful and growth is at 800 %.
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