A tsunami of home foreclosures is set to hit the US as banks are unable to keep bailing out tenants that can’t afford their rent, David Karsbøl from Saxo Bank told CNBC. Daphne Roth from ABN Amro Private Banking joined the discussion.
Airtime: Tues. Aug. 25 2009 | 0:00 DT ET
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof. —John Kenneth Galbraith
Retail Sales in Jan rose .4% headline m/o/m, .7% ex auto's, .6% ex auto's and gasoline and .7% at the core. The headline figure was less than expected while the rest were slightly better. But, with respect to non headline sales, because Dec figures were revised lower, taking the two months together were about in line with forecasts overall. Sales rose in electronics, building materials, food/beverages, clothing, sporting goods, dept stores and restaurant/bars and fell interestingly for online retailers, health/personal care, furniture and motor vehicle/parts. Bottom line, headline sales were below expectations due to the greater than expected fall m/o/m...
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August 25th, 2009 at 7:52 am
[...] (Hat tip: Barry Ritholtz at The Big Picture.) [...]
August 25th, 2009 at 8:25 am
Not to worry. BB will provide unlimited liquidity.
August 25th, 2009 at 2:53 pm
The chart comparing employment with population was outstanding. That shows wtf is going on.
Also, the statement from missy that there are positive signs, i.e., manufacturing, etc., as a sign of recession is over, is just bogus. Because shelves clear off at some point, does not mean that the trend will continue. Also, the statement that asia will lead the world out of recession because asia has savings assumes that they will spend. I don’t see the connection between savings in the past and future excess spending, especially in Asia. Such a phenonmina is purely a US problem that I do not see being exported. In fact, if it is, Asia will not have funds to buy treasures.
August 25th, 2009 at 6:04 pm
This dude is right. When the FED has to drop its pants, inwestors may not be impressed with what they see.
August 25th, 2009 at 7:36 pm
[...] Via The Big Picture A tsunami of home foreclosures is set to hit the US as banks are unable to keep bailing out tenants that can’t afford their rent, David Karsbøl from Saxo Bank told CNBC. [...]