The Case Shiller House Price Indexes (CSI) for July showed another uptick, which got all the economists crowing again that the bottom is in on house prices. They’re wrong. What else is new? The CSI is misleading them. Today’s report will show you why.
I’m so glad I’m not an economist. What an embarrassment that must be. How can they even face their children?
Meanwhile, the Fed will do most of its support operations now in MBS, which is sort of like a vacuuming out cesspools and filling them with cheap perfume. We have a good idea who some of the cesspool owners are. But we don’t know who got the other $368 billion of our money. We do know what they are doing with it. That part’s easy. Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful, I will give you a full refund. It’s that simple. Click here for more information.