Erosion in real fundamentals is going on and all the phony DC calls will be identified as fabricated soon as Saturn Neptun combinations are deception signatures.
Home Prices Edge Down as Tax Credit Fails to Lift Market
Submitted by Tyler Durden on 05/25/2010 16:24 +0300
March Case-Shiller data has been released: the seasonally-unadjusted Case-Shiller index has now declined for 6 straight months after peaking at 146.7 in September of 2009, for the composite 20 index, and is now back to 143.4, a level last seen in June of last year. This was a 0.5% decline from the February reading of 144.06. The biggest drop in the tracked 20 MSAs was in Detroit, at -4.1%, with Minneapolis and Chicago second and third, while prices increased in Cleveland, San Diego, San Francisco.
3. The credit crunch is again restarted and like in 1931 the second phase of the depression comes from Europe after being started from America in 1929. The risks are severe against suddenly 180 degree turning Martin Armstrong and Max Kaiser claims that markets rather go up. Also interesting was that at the top of the market even Bi,ll Gross made the grave mistake to declare that stock is the risk worth being taken. The scenario of the 30ies will repeat itself as today the risks and leverage of banks is even higher with the hundreds of trillions in OTC derivatives. The governments can go one level higher in the inflation process which will happen and is only a matter of time until hyperinflation starts - which is the last move they can make with daily rising debt around the world.
Swaps Indicators Soar to 10-Month Highs as Investors Cut Exposure to Risk Corporate and sovereign credit risk indicators jumped to the highest level in 10 months on concerns that heightened military tension in the Korean peninsula and a slump in confidence in the euro will hurt the global economy.
Libor for Dollars Climbs for 11th Day as Banks Question Creditworthiness The rate banks say they pay for three-month loans in dollars climbed for an 11th day as concern mounted that Europe’s debt crisis will prompt financial institutions to question one another’s creditworthiness.