Smoke and Mirrors

“The recent activity of sales in markets which are affordable to first-time buyers, are being driven mainly by foreclosures and short sales.”

The REAL Unemployment Rate

 RE Report
The real unemployment rate released on July 2nd by the Bureau of Labor Statistics is now 16.5%, a full 7 points higher than the officially reported rate.
 The June numbers from the Bureau of Labor Statistics, using the bureau’s expanded “U-6″ rate, show an amazing 16.5% rate of unemployment, not the 9.5% that was being reported.
The real rate includes [...]

The ‘SPIN’ from the NAR continues…

RE Report
The National Association of Realtors released Pending Home Sales data today and their findings reveal a One Tenth of One Percent supposed increase. One tenth!
Now mind you, that in any data set, a standard/typical margin of error is + or – 1% to 2%. So the One Tenth is negligible. 0% and may even [...]

Abating or Intesifying

The first quarter survey by the National Association for Business Economics indicates that the economy is at an inflection point, but not quite a turning point, said NABE lead analyst Sara Johnson.
The U.S. economy is still in decline but results from the Q1 economic survey show evidence the recession may be abating
“Key indicators – industry demand, employment, capital spending, and [...]

Enough Said

Commentary
Ben Bernanke’s comments today were so off the charts and just absolutely ridiculous. Clearly revealing that he is but another paid sock-puppet within this left-wing, hidden agenda administration.
We don’t know who it is, but someone has their fist so far up Bernanke’s ass- it’s apparently causing him to spout the rhetorical nonsense of babbling lab monkeys.
Speaking of asses; [...]

CB Richard Ellis- in Bed with Sen. Feinstein and the Obama Administration

RE Report/Analysis
Tax evading appointee’s, broken campaign promises, irresponsible spending, take over of private industries, and corrupt Senators. This new administration has it all in their first 3 months of stinking up the White House.
The only ‘change’ we at RE see, is the continuation of criminal activity and rampant corruption in DC. And, they are at it [...]

Freddie Mac CFO Takes His Own Life

RE Report/Analysis
David Kellerman, who was the current acting chief financial officer for the government sponsored entity mortgage giant, Freddie Mac was found dead at his home Wednesday morning in an apparent suicide. This is according to a report from the Vienna, Va authorities.
Kellerman was named acting CFO at Freddie Mac in September 2008 after the federal [...]

Retail Sales: March- ing to a Sour Note

RE Report/Analysis
Well, the predicted 0.2%-0.3% rise in Retail Sales by leading economists was a BIG bust, decreasing 1.1%. As RE stated, there are too many pressing factors that are having a strong influence on the overall economy.

Today’s broad decline for retail goods in March bolsters that the slight improvements in January and February were owed more to [...]

Chain Store Sales Snapshot

RE Report
Retail Sales for chain stores slipped 2.1% on a year-over-year basis according to ICSC. Gap, Target and Costco lead the chain-retailers pack, dropping a full 8%, 6.3% and 5% in same store sales, respectively.
While Luxury retailers Neiman Marcus and Saks reported sharp declines of 29.9% and 23.6%, respectively. Teen retailer Abercrombie & Fitch posted [...]

Bulls, Bears and Jackals

RE Comments/Analysis
RE has previously stated on many occassions, and again on April 7th,
that…”the markets are not a true indicator of any economic and financial news anyway. Rather, the market tends to move on the whim of traders and investors- who manipulate trading and company stocks as they see fit.”  The message needs to be re-iterated [...]