El Jefe Jeff E. sent this one: U.S. New-Home Sales Drop 11.2%. “Unexpectedly”??? What planet are they from? I suspect that we’ll see a further drop, seasonally adjusted this summer, as mortgage credit tightens and as another wave of foreclosures further flood the housing market.
GG mentioned an article in an Indian newspaper, wherein Jim Rogers says that the UK will lose its AAA bond rating this year, and that inflation and a currency crisis are inevitable.
I noticed that The Total Investor Blog has had some great posts, recently.
Items from The Economatrix:
Bernanke: Record-low Rates Still Needed
Stocks Rise Ahead of Bernanke Report on Economy
Freddie Mac Loses $7.8 Billion. (Senator Everett Dirksen said it best: “A billion here, and a billion there, and pretty so you’re talkin’ about real money.” )
Bad Credit Sidelines Some Jobless Workers
World Economy to be Hit by Several Sovereign Defaults