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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: ild who wrote (56741)	3/24/2006 3:32:42 PM
From: ild	Read Replies (2) of 110194

Date: Fri Mar 24 2006 13:46 trotsky (@more on home sales data) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved it is truly funny. when existing home sales came in at a credulity straining plus 5.2% , flying in the face of EVERY bit of regional sales data one can find anywhere, no-one stepped up to declare the number 'meaningless', or at least 'doubtful'. not so on today's minus 10% in new home sales. the spin machine immediately swung into action for a 'gesundbeten' session ( 'gesundbeten' is a German term describing the act of bureaucrats trying to talk up atrocious numbers to make them look hopeful - literally it means 'to pray for health' ) . not only are economists far and wide assuring us it don't mean much ( "Economists at Action Economics agree that the housing sector will moderate only gradually this year, but said there will be "the usual monthly gyrations that will give the market headaches as it obsesses on housing market developments." ) , even the government iself has all of a sudden discovered that its numbers are particularly error-prone and by implication meaningless: "The government cautions that its housing data are particularly prone to sampling and other statistical errors. It can take six months to establish a new trend in home sales." well, ROFLOL. Date: Fri Mar 24 2006 11:57 trotsky (@LOL) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved "In short, awful, but not yet a convincing collapse," said Ian Shepherdson, chief U.S. economist at High Frequency Economics. who said economists don't have a sense of humor? anyway, judging from regional data, especially in the worst bubble areas, a 'convincing collapse' is well underway.

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