Ya wanna see what has the Fed in a panic?
Well, look no further than this link:
http://www.calculatedriskblog.com/2011/08/new-home-sales-in-july-at-298000-annual.
html
…at Calculated Risk blog, which shows the chart below.
Needless to say, the absolute, staggering collapse in new McShacks is cripping the entire McMortgage/McSecuritization industry (itself already moribund), not to mention the entire “Real Estate Industrial Complex” that was built around ever-rising prices and sales of McStuccos.
(Spock Conclusion): And this is the best the Thugs and Pigmen in Charge can do after TRILLIONS of dollars of monetization and stimulus? Heh, I’m not impressed.
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