From Peak to Valley. Dr. Housing Bubble reports: Beverly Hills real estate selling for 1989 price levels. Home sold for $920,000 in June of 1989 and has a pending sale at $920,000 in 2011. [JWR Adds: So much for oft-touted “buy and hold” strategy! Oh, by the way, how much did the owner(s) of that house cumulatively pay in mortgage interest, property taxes and insurance, for those 22 years? Doubtless somewhere north of a million bucks. And how much has the purchasing power of the Dollar declined in those 22 years? So… Cui bono?]
J.B.G. sent this: Government Has Borrowed an Additional $29,660 Per Household Since Obama Signed Stimulus
Jeff in Virginia sent this: Banks told to stress-test for 11% jobless rate: report
Items from The Economatrix:
Silver Gains on Inflation Concerns and Tight Supply
How Much More Demand Can Silver Handle?
Employers Rejecting Unemployed Job Applicants
Drought In China Will Not Hit World Grain Prices
Milk Prices Going Up, China to Blame
Dow Notches Third Straight Week of Gains
Gold Rises to Five-Week High, Physical Demand “Very Much” About Inflation And Low Interest Rates