I always laugh whenever I hear anyone say eejit hack claim “No one saw it coming!”
This video — featuring a thinner, less gray version of your humble blogger — discussing the coming housing storm in 2005 gives lie to that claim.
The advice: Sell banks, Sell Home Builders, Sell Home Depot and Lowes.
"Dollar depreciation leads to higher inflation and ultimately forces foreign creditors to question their rationale and indeed their sanity for continuing purchases of U.S. Treasuries." -Bill Gross
Initial Jobless Claims for the week ended Feb 18th totaled 351k, 4k less than expected but the prior week was revised up by 3k to 351k. The 4 week average did fall to 359k from 366k, the lowest since Mar '08. Continuing Claims fell by 52k to the lowest since Aug '08. Also, Extended Benefits fell a net 69k. Bottom line, the data still points to a labor market that continues to improve however lumpy the process feels for many. ...
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