Yesterday morning, the National Association of Realtors reported a 27% drop in existing home sales for July (as compared to June), the largest month-over-month drop in 15 years. At sales that pace, given the number of houses on the market, existing home inventory jumped up to 3.98 million existing homes for sale, a 12.5 month supply of housing (i.e. if all houses currently on the market were purchased at the […]
For the media, “Mission Accomplished” represents everything that was wrong with the George W. Bush administration and its war policy. The image of Bush declaring unequivocal victory mere weeks after the invasion of Iraq has been ballyhooed as a visual representation of Bush’s arrogance, naivete, even dishonesty (the media contrived most of this meme – more on that below). Will Barack Obama have a “Mission Accomplished” moment? That is, will […]
The President in on his “Recovery Summer” Tour congratulating himself, everywhere he goes. Michigan has lost or dissolved 94 thousand jobs since the Recovery Act was passed. Not so sure I would be slapping myself on the back for that. Oh and by the way, each of these jobs cost you and I $500,000 a piece.. oh oh and one more thing, the money went to a South Korean company! […]
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