Looking at Housing Supply & Demand
By Barry Ritholtz - May 13th, 2009, 11:30AM
Nice info porn via Good magazine:
click for full sized, ginormo graphic
Every day I get up and look through the Forbes list of the richest people in America. If I'm not there, I go to work. ~Robert Orben
Macro Notes
CFTC data, euro net shorts fall 38%Peter Boockvar
According to the CFTC weekly data for the week ended Tuesday, net shorts in the euro fell by 38% from last week's record high and are now at a 6 week low. Net shorts in the pound moved up a touch to just shy of its record high. Net longs in the Australian$ rose to the most since May '08 and net longs in the Canadian$ rose to the highest since Nov '07. Gold new longs fell to a 4 week low. Net longs in crude rose 14% and are just 12k contracts from a record high dating back to...
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May 13th, 2009 at 12:18 pm
“It could be suggested that deregulation of the U.S. Economy (sic) coupled with immense greed has currently spawned our current world economic crisis.”
Or it could be argued that too much regulation, i.e. the very existance of the Federal Reserve and the decision to inappropriately lower interest rates distorted the movement of private capital and lead to a bubble. The FR was also responsible for changing the leverage limits on bank capital ratios. It was not deregulation that allowed these things, it was the regulators, operating within the defined regulatory framework, that allowed it to happen. Elizabeth Coleman, inspector general at the FR, can’t even answer a simple question from Rep. Alan Grayson about whether or not she has a list of recipients of $9T from various FR programs. Don’t trust the bankers, don’t trust the FR, don’t trust the FDIC and don’t trust the government. I’m all for a policy of caveat emptor from here forward.
May 13th, 2009 at 1:09 pm
I like the individual elements of this graphic as art, but taken as a whole this doesn’t do much for me. Kind of like a crappy rap song with a good beat that (hopefully) someone will sample and use to make good music!
May 13th, 2009 at 1:20 pm
Looks like 9000 on the Dow is out of the question. I guess GS is taking the week off. That or their only goal was to inflate the market until the stress test results were released. Trying to figure out if I want my crow grilled or sauteed
What really gets me is that we’re still in a uptrend so this may just be the market working off the overbought condition. This may be the perfect example of “buy the rumor sell the news”.
May 13th, 2009 at 5:32 pm
The chart says little except the “deregulation and greed caused the whole thing” trope that BR loves so much.
On that subject, I love how the same voters and investors who were blowing the stock & housing bubble were supposed to elect a government that would competently regulate the financial system. That’s the regulatory thesis in a nutshell, and the self-contradiction of it is as obvious as it is unremarked.
As Kevin Depew puts it, after the Great Depression we enacted a bunch of rules to prevent that which had already happened. It looks like this time we’re gearing up for a repeat performance.
May 13th, 2009 at 5:33 pm
BTW, I have found it to be good practice to ignore any statement which begins, “It could be argued,” or “It could be suggested.”
May 13th, 2009 at 10:52 pm
Graphite,
remember, it’s, Only, the Horsethief (and/or his Agents) that bothers “Locking the Barndoor, after the Horse is Gone.”
May 15th, 2009 at 2:20 am
this is a classic example of brainless chart junk. the longer you look at it, the less sense it makes.
as the chart itself says: “Duis dolortiolbh et ad tiniatum erostin dolortin hendit nim zzrit,” which means “what goes up goes down, or elsewhere, unless it doesn’t.”
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