How about that only 479,000 claims......instead of falling towards 400K we've been steadily climbing back towards 500K.......near the WORST it ever was during LAST 20001-2003 Recession. Shaded area is 4X the size and time period or previous.If interested Yelnick has assembled an assortment of near term technical charting
"A top Is near"
Claims of jobs being created but 17 months from March 2009 bottom, we still have 450K per week in claims. Claims of a bottom in housing but we still have escalating foreclosures greater than previous year.
Credit/bank loans are harder to come by, standards of course after SUPER LAX BUBBLE PERIOD have become very stringent. Contriction of loans does not equal expanding economy.
Gov stimulus is pretty much done, accounting for 100% of GDP during this period.
FED rates are at 0%, where to now? Most prices deflating, except some natural resource putting the squeeze on embattled consumers with oil now rising to above $82 along with some grains etc.
Last weaker GDP report will most likely be revised down below 2%.......Consumers who make up 70% of our economy show rising saving rates near 6%, wages flat, spending flat to down.....trying to pay down debt.
How many mortgages are NOT BEING PAID? HOW LARGE IS THE "SHADOW HOUSING INVENTORY?" probably keeping a lid of home prices for some time to come.
Where are Banks in realizing ACTUAL LOAN PORTFOLIO VALUES? ARE PROFITS BEING OVERSTATED? IF SO SPX PROFIT REPORTING A SHAM......we don't need accounting fiction......we need a dose of truth and fairness for once.
Presidential speaches fall on deaf ears......decisive, jobs producing action is what is needed with REAL AID to small business.
D
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