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View Full Version : Housing Starts Up 10.5% VS 0.4% in July



Gayle in MD
09-21-2010, 06:34 AM
Housing construction surges to 10.5% in August.

More good news.

Ok righties, attack now.

G.

Chopstick
09-21-2010, 07:04 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gayle in MD</div><div class="ubbcode-body">Housing construction surges to 10.5% in August.

More good news.

Ok righties, attack now.

G. </div></div>

It is not "to 10.5%", it is up 10.5% from the July numbers.

Futures: +2 above fair value at 8:57 EST. Don't listen to CNBC. That is the real number.

They just announced the recession is over in the morning conference call. We all got a laugh out of that one.

I am not a rightie. I am a bear. I will tell you why sometime if you are interested.

Sev
09-21-2010, 07:06 AM
Which is still dismal.

Gayle in MD
09-21-2010, 07:17 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Chopstick</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gayle in MD</div><div class="ubbcode-body">Housing construction surges to 10.5% in August.

More good news.

Ok righties, attack now.

G. </div></div>

It is not "to 10.5%", it is up 10.5% from the July numbers.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Housing Starts Up 10.5% VS 0.4% in July </div></div>

<span style="color: #FF0000">I think the title of the thread was clear.... </span>

Futures: +2 above fair value at 8:57 EST. Don't listen to CNBC. That is the real number.

They just announced the recession is over in the morning conference call. We all got a laugh out of that one.

<span style="color: #FF0000">Yeah, I was laughing for a whole year while you guys were denying we were even in a recession....

So, Forgive me if your "Recession" opinions don't hold much weight with me. </span>

I am not a rightie. I am a bear. I will tell you why sometime if you are interested. </div></div>

<span style="color: #FF0000">I'm all ears....
G. </span>

pooltchr
09-21-2010, 07:30 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gayle in MD</div><div class="ubbcode-body">[ <span style="color: #FF0000">I'm all ears....
G. </span> </div></div>

So is Obama....but we don't make fun of him for how he looks!

Steve

jimmyg
09-21-2010, 08:01 AM
Another misleading post that is politically motivated rather than factually based. /forums/images/%%GRAEMLIN_URL%%/crazy.gif

Adding inventory to a low demand, already bloated supply situation, is a sure way to add to the downward price pressure.

August Housing Starts come at 598K, on expectations of 550K, as the bounce along the bottom is now nothing but noise.

<span style="color: #FF0000">None of this is relevant as the most recent (July) housing inventory number hit 12.5 months from 8.9 months prior, and even with that in mind, the starts number is the largest since April 2010, which merely means that even more spare capacity will be added. </span>

Oh, and this being a US Census number, <span style="color: #FF0000">the prior number was obviously revised lower, from 546K to 541K.</span> No surprise there.

J

Deeman3
09-21-2010, 08:29 AM
The housing starts were better than expected but not a lot to celebrate yet. I do hope it turns around, really. I have to live with the consequences just like everyone else.

The lag in declaring a recession is on and when it is off is a just that, a lag. You ususally don't know when you enter one until a year or so later as this is a numbers crunch. It would be un-American to hope we fail. I have never wanted that.

I would like the Dems to fess up to the fact the stimulous is on the whole very ineffective and as even Gavin Newsome said yesterday, "It was mostly a spending spree form bigger government, not a major help to the overall economy."

We may be seeing our way out fo the short term by delayed spending and some accumulated buying but the main thing that hangs over us is the out of control spending that has been with us too long, under Bush it was wasteful, under Obama it has been accelerated way beyond what was needed to help the ecconomy. As Hillary and the others said, "Don't waste a crisis!" and they have not in spending the next generation's money for their short term political gain. Fortunately, the majority has seen through this and ever throwing in a few nuts from the tea party has not helped the Dems hide their mis-management of the problems.

I have turned off Fox News as well as MSNBC (now they only have 7 viewers a night) and will just sit back and watch for November where some payback may be in the offing. It is getting too ugly, even for me with with a tea party member refusing to diddle herself while Obama has diddled us all. /forums/images/%%GRAEMLIN_URL%%/smile.gif

My employees, who voted en mas for Obama are now seeing the cost of his health care to them and they, while not voting for the Republicans are saying aloud, unusual for here, they have had it and will never trust another Democrat again. I know, that may be short term but I think they have made most mad enough to carry for a few years anyway. We are also faced with the fact that we have made the recipient and victim class the largest block of voters so, in the long run, the engine of recovery is a dying and unrecoverable mess. At least mostr of us are close enough to retirement or death not to have to see the price our grandkids will face. /forums/images/%%GRAEMLIN_URL%%/smile.gif

I hope we have at least a short term recovery so we can have one last chance to let this newest generation have a chance at a job and a future before they all have to go to work for the government. /forums/images/%%GRAEMLIN_URL%%/frown.gif

Gayle in MD
09-21-2010, 08:41 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">




Here are some highlights from the IPS survey:

Fred Hassan, the CEO of New Jersey-based drug-maker Schering-Plough, collected just shy of $50m (including a $33m golden parachute when Merck bought up his company), while 16,000 workers lost their jobs. His salary alone could have have paid all these workers over 10 weeks of unemployment benefits. Frederick "Fritz" Henderson, who became CEO of General Motors when President Obama ordered Rick Wagoner to stand aside, made $5.45m before he resigned in December 2009; in the meantime, 75,733 workers were issued pink slips.

American Express received $3.39bn of federal Troubled Asset Relief Programme (Tarp) funding in 2008. The company has laid off 4,000 workers since then, but CEO Kenneth Chenault was paid $16.8m in 2009, including a cash bonus of more than $5m. You can be sure Chenault doesn't leave home without his business card!

But perhaps even more galling are the men who paid themselves more than their entire company paid in federal taxes, despite the fact that under current law, US corporations are required to pay a 35% statutory tax rate on corporate profits. Companies use elaborate tax avoidance schemes to circumvent this, and some pay less than 2%.

Occidental Petroleum CEO Ray Irani made $31.4m last year. That works out to almost twice as much as the $16m that this international oil company paid in federal corporate income tax. (Over the last decade, Irani has collected almost a billion dollars, enabling him to build a mulitmillion-dollar faux French chateau in Bel-Air.)

William Weldon, CEO of drug-manufacturer Johnson & Johnson, got a $25.6m windfall in 2009, even though his company is facing serious charges of defects with multiple products. In the last year, Johnson & Johnson has recalled over 100m bottles of Tylenol, Motrin, Benadryl, Zyrtec and assorted other over-the-counter medicines. The company also has difficulties with its disposable contact lens and its hip-replacement products.

"Our findings illustrate the great unfairness of the great recession," concludes Sarah Anderson, lead author on the IPS study. "CEOs are squeezing workers to boost short-term profits and fatten their own paychecks."
</div></div>

http://www.guardian.co.uk/commentisfree/cifamerica/2010/sep/01/unemployment-executive-pay-bonuses


<span style="color: #FF0000">Oh, but we don't want to raise their taxes, and hurt the job market....BWA HA HA HA...

Your workers need to check out the CEO salaries, instead of blaming the stimulus. They, the top one percent or so, have bilked America out of it's wealth, now they're just picking our bones.

We WERE heading for a Depression. It didn't happen. The stimulus contributed to that end. When one administration walks out during a job loss frenzy, 6 to 7 hundred thousand a month, or more, how many months after they leave, do we consider further job losses, still from the original crash?

Republicans will destroy what is left of the Middle Class, if they have their way.

G.

G. </span>

pooltchr
09-21-2010, 09:21 AM
Dee, there is another factor that needs to be considered along with the housing starts. The number of existing home foreclosures hit a new high in August. That means there will be even more homes on the market as they are finalized. And they will hit the market cheap. What do you think will be the result?

Steve

Chopstick
09-21-2010, 11:36 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Gayle in MD</div><div class="ubbcode-body">
<span style="color: #FF0000">I'm all ears....
G. </span> </div></div>

One of the first things they teach you at the firm is "All Stocks go to zero." If the firm had a motto, that would be it as this phrase is repeated often. In the history of the market, there have been more stocks that have gone to zero than are in existence today.

During one of our training sessions, the leader asked a rhetorical question. "If a bull and a bear fought, who would win." Several guys offered opinions. The only thing I could think of at the time was at least the bull won't eat you so which one would you rather fight. I thought this was dumb so I kept silent.

Days later when I was having a long walk to think about things it occurred that the question does have a logical answer. All stocks go to zero or as Tyler Durden would say, "On a long enough time line the survival probability for everyone goes to zero." This applies to stocks and the whole world in general.

In the end, the bear always wins. Therefore, I am a bear. I am short before I am long. I am a seller before I am a buyer. Things are going to get worse before they get better. I apply this viewpoint to everything.

jimmyg
09-21-2010, 11:49 AM
Another important market theorem to keep in mind, especially during periods such as these, is that markets can remain irrational longer than you can remain solvent.

J

Chopstick
09-21-2010, 02:06 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: jimmyg</div><div class="ubbcode-body">Another important market theorem to keep in mind, especially during periods such as these, is that markets can remain irrational longer than you can remain solvent.

J </div></div>

John Maynard Keynes said that. That used to be my favorite saying. My new Favorite is "Never underestimate how wrong you can be." /forums/images/%%GRAEMLIN_URL%%/laugh.gif