Lee’s Free Thinking

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Where Are the Prosecutors?

New York Fed Bank President Bill “Dud” Dudley said in a speech today that the Fed is closely watching mortgage foreclosures to ensure the integrity of the process, according to a piece in today’s Wall Street Journal. Follow the money. Find the profits!Liquidity is money. Regardless of where in the world that money originates, eventually…

Theoretical Seeds of A Housing Bottom- Professional Edition

Purchase mortgage applications fell back to near their recent lows last week, reversing the surge from the previous week. That was caused by the FHA’s new, tougher requirements on credit scores and down payments. The week before last was the deadline for deadbeats to get in under the old easy money game rules. That blip…

Employment Facts You Didn’t Hear

Total employment actually dropped by 214,000 according to the unadjusted household survey (CPS), not seasonally hocus pocused (NSHP). The establishment survey (CES) showed a gain of 428,000, again NSHP. Hard to reconcile those numbers. I guess a bunch of the millions of self employed gave up on their businesses selling junk in the attic on…

Cathartic monetary disorder, part I

Nobody knows what will happen. The discrepancies of economic predictions are at a record high. From deflation to hyperinflation, from the Euro getting destroyed to the dollar death cross, from idiotic “new normal” to idiotic Ken Fisher. But…

What Up With That?

So there was this big jump in mortgage purchase applications today. I thought to myself, “Hmmmm, I  wonder how many will make it to closing. And I wonder what triggered the pop.” Pop is relative of course. Yeah, it was a 9% jump from last week, but the level is still 35% below last year…

Don’t Fight the ISM?

Follow the money. Find the profits!Liquidity is money. Regardless of where in the world that money originates, eventually it flows to and through Wall Street. So if you want to know the direction of the next big moves in stocks and bonds, just follow the money. Lee Adler’s Liquidity Trader tracks and shows you the…