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Gloomy U.S. consumers clip housing recovery hopes
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Reuters
June 30, 2009
June 30, 2009
- A d v e r t i s e m e n t
A separate report on April house prices in major cities offered some encouraging signs that the worst of the housing slump may be over, but that was not enough to lift investors’ spirits, while another crop of economic data showed business activity in New York City and the Midwest remained weak and retail chains slogged through a rough June.
Billionaire investor George Soros added to the cautionary tone, saying fears of inflation would drive up borrowing costs and choke off growth once financial markets recover.
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June 30th, 2009 at 11:31 am
Just wait until anyone of the timebombs explode. July is going to be tragic
showmebby Reply:
June 30th, 2009 at 12:19 pm
NLE09 NLE09 NLE09
Caitlyn Reply:
July 1st, 2009 at 9:38 am
NO KIDDING. My partner and I are going to ground before that.
Gee I Joe Reply:
July 1st, 2009 at 8:53 pm
Electricity rates in NYC have increased by over 40% effective May 1. This with rampant unemployment, cut backs. Guess this is meant to be the bailout funder. Act people. ACT.
James M Reply:
July 1st, 2009 at 11:16 pm
Move Gee I Joe. You do not have to pay if your not there. It is simple on any scale that if you create a place that oppresses people then they usually leave that area. It is desperation for NY to raise these taxes, the next California for different reasons. Just leave the state, fuck them and let them figure it out. Go for tax free states and states that support the Constitution by passing laws against the fed govt and stand up for their soveriegnty
John Henke Reply:
July 2nd, 2009 at 10:39 am
Good idea James.
Just what state would that be?
If you know on pleas respond and tell me so I will know.
Crito Reply:
July 2nd, 2009 at 10:32 am
Rent inflation is like a tax on consumers. Home prices need to drop another 50% to bring the cost of living in-line with wage deflation.
less income + higher cost of living = lower standard of living = depressed consumers = no recovery
John Henke Reply:
July 2nd, 2009 at 10:45 am
Right on Crito!
The criminals are stealing every dime we have before the ” economy ” collapses. They will tear down empty houses before selling them for their real market value, as you said, at least 50% less that they are now.
Flint Michigan has already begun the destruction with many more cities in line. It’s all for the benefit of the banksters and their minions in the so-called government.
LONG LIVE THE REVOLUTION! PROUD TO BE A LOW LEVEL TERRORIST!
June 30th, 2009 at 12:24 pm
“Billionaire investor George Soros added to the cautionary tone, saying fears of inflation would drive up borrowing costs and choke off growth once financial markets recover.”
Fears of inflation would drive up borrowing cost and choke off growth?
It surely couldn’t be the printing of retarded sums of money could it? No…… that has never been the cause of and for inflation.
The sad thing is that this probably won’t even be questioned by most who read it.
James M Reply:
July 1st, 2009 at 11:20 pm
Fuck that Soros guy
June 30th, 2009 at 12:42 pm
“…once financial markets recover.”
They are going to recover? I’m talking about really recovering, not what they call a “recovery”.
They frequently talk enthusiastically about new jobs created, but fail to mention what kinds of jobs they are. These people are real pieces of work. They think we are dumb as doorknobs.
June 30th, 2009 at 12:42 pm
If it took you 30 years to find a house in nature, you’d be in peril.
June 30th, 2009 at 1:02 pm
Yeah, meatball. Its like everytime for the last 20 years when they mention the “new jobs”—they
do not give specifics. Its like everytime the discussion of outsourcing of jobs overseas comes up,
they say we need to “retrain” workers for the “new” jobs——-WHAT NEW JOBS!
Breathing Easy Reply:
June 30th, 2009 at 9:10 pm
We did that once, spent millions retraining workers, within 2 years those retrained workers new jobs had been outsourced. They haven’t tried again since.
The markets will recover, but only for the very few. There will be no recovery for the majority of the 8 million+ that have lost their jobs the last 18 months.
The banksters and Wall Streeters are taking as much taxpayer money as possible, stuffing it in their pockets and divising the next scam to fleece the remaining private wealth from Americans hands.
Breathing Easy Reply:
July 1st, 2009 at 10:47 am
The June unemployment numbers just released.
The private sector cuts another 483,000 jobs in June. More than expected.
The “experts” expect another 800,000 to 1 MILLION additional jobs will be lost by years end.
Who is going to buy a house?
Anyone see any “green shoots?”
Yet the market is UP 111 points now as I write.
June 30th, 2009 at 1:04 pm
We’ll see another hit in the stock market in the 3QTR. With California ready to issue IOU’s because they have zero cashe, and it being 12% of tax revenue for the country, this will be a horrible trickle down effect for economy for 2010
June 30th, 2009 at 1:06 pm
Yea hip, what new jobs???! They’ll pay someone to dig a hole and pay another guy to fill it up…pointless jobs, nothing concrete
June 30th, 2009 at 1:58 pm
DEAR U.S. SOLDIERS. HERE’S AN IMPORTANT MESSAGE TO YOU ALL:
###########################################
##GET THE FUCK OUT OFF IRAQ!!!!! ITS A WAR BASED ON LIES##
###########################################
DON’T RUN THE ROCKEFELLERS/BILDERBERGERS/CLUB OF ROME’S WORLD GOVERNMENT (INCLUDING POPULATION REDUCTION) AGENDA.
!!!!!!!!!!!ALCIADA AND TALIBAN AND ARE U.S. FUNDED!!!!!!!!!
June 30th, 2009 at 2:54 pm
Homes are selling faster and for more, but that’s bad. Housing prices need to come down. The beginning of another bubble. More debt, more debt, more debt. The only thing really keeping us up is that the dollar is the world’s reserve currency, but countries are looking for ways out of the dollar. The rug will be pulled out from under – maybe when the control freaks put the finishing touches on their control grid.
June 30th, 2009 at 3:34 pm
Billionaire investor George Soros added to the cautionary tone, saying fears of inflation would drive up borrowing costs and choke off growth once financial markets recover.
YEAH GOOD ONE GEORGE!!! FUCK OFF!!!!!!
-Mike
June 30th, 2009 at 5:01 pm
There is a lot of ” hope clippin’ ” going on these days !!!
P.S. The blind leading the blind !!!
James M Reply:
July 1st, 2009 at 11:26 pm
Hell theres blind people leading deaf people and trying to talk to them and show them the way
June 30th, 2009 at 5:07 pm
but i am the first black president, i will bring you hope
mutha Reply:
June 30th, 2009 at 6:45 pm
DON”T forget the chayyyyyynge
June 30th, 2009 at 5:08 pm
Yes Sir Baby De Porky is back!!!!!!
July 1st, 2009 at 12:33 am
Watch for ‘interesting things to surface’ on July 7 and August &
July 1st, 2009 at 9:52 am
Georgie boy is just using basic CIA mind control technics to keep the compliant Sheople in line!
Bla, Bla, Bla, Bla, Bla
July 1st, 2009 at 10:57 am
Join the paragon foundation. We listen to the Derry Brownfield show everyday and that is where we heard of this. Home owners, farm and livestock owners, get with this foundation.
July 1st, 2009 at 5:27 pm
I like to know what recovery George is thinking of, i am not seeing a recovery. No one is even buying cars much less houses……. I have friends who cant even get a sniff of a job, much less buy anything of value… After Cap and tax kicks in; plus inflation, who is going to buy anything?…The only recovery will be the people who still have money, and know where to invest it. There wont be a recovery for the middle class…..The rich will pay for the poor, and the rest of us are screwed…..
July 1st, 2009 at 7:12 pm
How can there be a middle class when each household owes $546,000.00 for the massive bailouts?
You tell me what could you do with $546,000.00 for your household? For most Americans it’s a mortgage payoff with money to spare. Taxes are going up and the cost of living is going up. Yet wages are going lower. I for one am tired of being a wage slave. The Fed takes 30% before I even get my check. Then I have to pay a sales tax of 8% on everything I buy. Then there is a tax on everything I save. By the time all the taxes are accessed 50% of my money is gone to taxes. What do I get for my taxes? A war based on lies. Unemployed friends and family. Some bureaucrat sniffing around to fine me for any violation they can find and to pay congressmen to sign a bill they didn’t even read. If I am going to pay a heavy tax burden at least give me the dignity to decided to let it go to feed a poor family not bailout a bunch of stupid, self entitled white collar criminals. American needs to WAKE UP.
July 1st, 2009 at 7:58 pm
Well said, my friend. Your wroung on one point, each american does not owe $546,000 per household, because it was not us who spent it. America is bankrupt, half the states are bankrupt, thousand’s of cities are bankrupt. When will it end, how much money can we print befor the house of card comes crashing down.
July 1st, 2009 at 9:05 pm
the entire economic system in Japan capitulated 10-13 or so years ago, because they too went through an inflationary cycle in their real estate. Let’s not forget the people who were cashing in and making big bucks on these homes….buying them and then selling them for quick profits. Everyone was happy when the train ride was rosy. Irrational exuberance, indeed. Now that it’s time to pay the piper….everyone thinks its some sort of conspiracy.
Indeed, governments are constantly botching things. Be realistic. WHAT government on earth is really clicking on all cylinders? What government on earth isn’t riddled with men who when in power completely misuse the same?
We are in the middle of the deflationary downward cycle in real estate. UNTIL real estate bottoms out…the pain continues. And the sad irony is that it all feeds on itself. Neighbor next door loses his house….now mine is worth less….etc etc etc……
the bottom is frightfully worse than you can imagine. Look to home prices settling at 25 cents on the dollar….across the board….
DEFLATION=depression.
and people nowadays aren’t near as nice as they were in the thirties….
Only God’s Kingdom…can fix this mess….
July 1st, 2009 at 11:06 pm
Nothing is going to get to the thieves until people change their way of thinking. We could do a whole lot of civil disobedience. Boycott big corporations eg. Walmart. Withdraw all money from the banks. Get the truckers to shut down the highway system. Max out your cards and buy things you can trade when things get bad. Things are going to get bad. It would be better to get this shit over with.
July 2nd, 2009 at 11:17 am
Do you realize, bring in immigrants legally and illegally is part of the entire bubble problem, the banksters gave this people loans and forgave them if they stand in thier houses 5 years. Illegal immigrants get same opportunities in addition they get a free get out of jail card when ever they are caught in criminal activity. Did I forget to mention bank loans and credit cards just because the banksters know illegals will not protest or get involved in overthowing the gov’t. SWEEET…
July 2nd, 2009 at 12:56 pm
What is the plan of action?
Seriously. A clear plan of action to change things, where is it?
Think clearly everyone. What is to be done?
This is the most important question now.
What is the plan of action?
July 2nd, 2009 at 11:59 pm
What is the militia? The term “militia” consists of two parts: the organized militia and the unorganized militia. According to the organic Maine Constitution and backed by the United States Code, the organized militia is the standing military force in the state (the “State Guard”) while the unorganized militia (which is commonly called the militia) consists of all other males between the ages of 17 and 45 (or 65 if they have prior military service). The militia was established for the purpose of defending the state (a sovereign nation) and the United States of America (a union of nations) from all enemies “foreign and domestic” based upon principles of community self defense established hundreds of years before the nation was formed. However, while the organized militia was tasked with the defenses of the states, our forefathers, having just fought their own government, did not place their entire trust in the government or a standing army to protect them but reserved the right and the means to protect themselves – thus the unorganized militia. The militia was and is a defensive body set up so that its members can take care of normal peace by internal lawless elements, or government usurpation of the rights and power of the people guaranteed by the Constitution, there is a group of people that owe their allegiance to no one except God and their fellow Americans who desire to remain free.
The mission and purpose of the militia have not changed. What has changed is the status of the organized militia. The “State Guard” with the duty and obligation of protecting the state is now under federal jurisdiction (the “National Guard”) thereby obligating it only to the federal government making the unorganized militia the only constitutional force available for the defense of the state.
July 3rd, 2009 at 1:25 pm
if there are 500 plus trillion bogus dollar derivitives already passed which bid up all prices of all things and that is twenty years worth of total world economic production and the toxic assets will not pass again and gobblygoop is acceptable political discourse while the perps are securing themselves from losses , where does growth or inflation come from?
July 3rd, 2009 at 2:01 pm
Unfortunately, the so called “toxic assets” they speak of, have not even been dealt with yet. The TRILLION $$ that we spent so far only went to pay THEIR GAMBLING losses with OUR money, and only allowed the Wall Street bansksters to keep their high paying jobs and bonuses. Suppossedly, Geithner has some plan where the FED or the US gov’t (being us taxpayers) will take possession of the actual “toxic asset,” where they will be sold off again. These derivitives and the swap (insurance) are highly complex devices representing fraction interests in multiple physical assets. Deciphering, indentifying and combining these financial devices into 100% ownership interest of a actual tangible asset, that can then be sold, might be impossible to do. These derivitives and their attached swaps (insurance) have been leveraged up to 60X and spread like a virus all over the world.
This is the biggest fraud ever committed. Stealing TRILLIONS of private wealth from taxpayers and individuals the world over.
And there are more of these “toxic assets” still coming in on a monthly basis. (due to the continuing, and worsening of some segments of our economy and the staggering jobs losses.) Only now the banks are allowed to value these financial instruments at a value of their choosing, thanks to the new bill allowed by our corrupt congressional leaders (enablers.) This allows the banks to “appear” solvent under the new “stess tests.”
In reality these “toxic assets” that have thrown us into a near worldwide depression have yet to be dealt with. And there is really no plan as of yet. When a plan is divised, it will cost YOU more money. Just be prepared for the gov’t. and the FED stealing more of your hard earned dollars.
But not to worry. The real nail in our county’s coffin comes with the “Crap and Trade” legislation.
This legislation will be the end of private wealth and most small businesses in this country. The swamps and derivitives will pale in comparison to the fraud getting ready to be unleashed on the American public.