[Bubblesitter]

2 videos on bloomberg on how these housing numbers are essentially worthless.

Kasriel of Northern Trust “skeptical” of new-home sales data.

And Brusuelas video

http://www.bloomberg.com

[Bubblesitter]

Here’s the link to the actual Commerce Dept report.

http://www.census.gov/const/newressales.pdf

I’m not a conspiracy theorist, but I wonder what kind of discussions were held putting this reports together.

Staffed with political appointees at high levels at the Commerce department, there must be constant pressure between the Career Economists and the spin doctor political appointees.

Measurement methodologies can have a huge impact on the actual reported numbers. I wonder how often they change these methods. A old trick may be to change the methodology to skew them in a favorable direction.

e.g. how they handle cancellations, are they excluding certain types of home, etc, etc.

[Bubblesitter]

Here’s the link to the actual Commerce Dept report.

http://www.census.gov/const/newressales.pdf

I’m not a conspiracy theorist, but I wonder what kind of discussions were held putting this reports together.

Staffed with political appointees at high levels at the Commerce department, there must be constant pressure between the Career Economists and the spin doctor political appointees.

Measurement methodologies can have a huge impact on the actual reported numbers. I wonder how often they change these methods. A old trick may be to change the methodology to skew them in a favorable direction.

e.g. how they handle cancellations, are they excluding certain types of home, etc, etc.

[Bubblesitter]

Here’s the link to the actual Commerce Dept report.

http://www.census.gov/const/newressales.pdf

I’m not a conspiracy theorist, but I wonder what kind of discussions were held putting this reports together.

Staffed with political appointees at high levels at the Commerce department, there must be constant pressure between the Career Economists and the spin doctor political appointees.

Measurement methodologies can have a huge impact on the actual reported numbers. I wonder how often they change these methods. A old trick may be to change the methodology to skew them in a favorable direction.

e.g. how they handle cancellations, are they excluding certain types of home, etc, etc.

[Bubblesitter]

By the way, FT or Financial Times is the premier European Financial newspaper, probably on par with the Wall Steet Journal. You may have seen its trademark pink paper with wide format in the newsstands. It has wide distribution worldwide.

I was traveling in Asia last week. This whole crisis is getting lots of press out there. We are in for a rough ride because many of those overseas investors have lost confidence in US markets.

[Bubblesitter]

By the way, FT or Financial Times is the premier European Financial newspaper, probably on par with the Wall Steet Journal. You may have seen its trademark pink paper with wide format in the newsstands. It has wide distribution worldwide.

I was traveling in Asia last week. This whole crisis is getting lots of press out there. We are in for a rough ride because many of those overseas investors have lost confidence in US markets.

[Bubblesitter]

By the way, FT or Financial Times is the premier European Financial newspaper, probably on par with the Wall Steet Journal. You may have seen its trademark pink paper with wide format in the newsstands. It has wide distribution worldwide.

I was traveling in Asia last week. This whole crisis is getting lots of press out there. We are in for a rough ride because many of those overseas investors have lost confidence in US markets.

[Bubblesitter]

A salute to all the Hedge fund managers, who got into the business thinking it was a license to print money!

Now they have to explain to their investors that they are no longer accepting redemption requests…..”we’re gonna ride this subprime storm out….trust us”

[Bubblesitter]

A salute to all the Hedge fund managers, who got into the business thinking it was a license to print money!

Now they have to explain to their investors that they are no longer accepting redemption requests…..”we’re gonna ride this subprime storm out….trust us”

[Bubblesitter]

A salute to all the Hedge fund managers, who got into the business thinking it was a license to print money!

Now they have to explain to their investors that they are no longer accepting redemption requests…..”we’re gonna ride this subprime storm out….trust us”

[Bubblesitter]

More info on Money Market Funds. Troubling news for those who thought their MM funds were safe. I’m shifted out.

Gold (ETFs), US Treasuries and 6 month CDs at FDIC insured institutions. That is the my entire portfolio now.

I would suggest you scrub and rescrub your portfolios for MBS, and MBS Derivatives. This is gonna get alot worse.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aJbhFOZ2T.R4&refer=home

http://www.bloomberg.com/apps/news?pid=20601109&sid=aEUtlgwzL_qc&refer=h…

(Excerpt from above link)
“Subprime Infects $300 Billion of Money Market Funds, Hikes Risk

Aug. 20 (Bloomberg) — Money market funds were invented 37 years ago to offer investors better returns than bank savings accounts while providing a high degree of safety. Most of the $2.5 trillion sitting in these funds is invested in such assets as U.S. Treasury bills, certificates of deposit and short-term commercial debt.

Unlike bank accounts, money market funds aren’t insured by the federal government. They almost never fail.

Unbeknownst to most investors, some of the largest money market funds today are putting part of their cash into one of the riskiest debt investments in the world: collateralized debt obligations backed by subprime mortgage loans………”

[Bubblesitter]

More info on Money Market Funds. Troubling news for those who thought their MM funds were safe. I’m shifted out.

Gold (ETFs), US Treasuries and 6 month CDs at FDIC insured institutions. That is the my entire portfolio now.

I would suggest you scrub and rescrub your portfolios for MBS, and MBS Derivatives. This is gonna get alot worse.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aJbhFOZ2T.R4&refer=home

http://www.bloomberg.com/apps/news?pid=20601109&sid=aEUtlgwzL_qc&refer=h…

(Excerpt from above link)
“Subprime Infects $300 Billion of Money Market Funds, Hikes Risk

Aug. 20 (Bloomberg) — Money market funds were invented 37 years ago to offer investors better returns than bank savings accounts while providing a high degree of safety. Most of the $2.5 trillion sitting in these funds is invested in such assets as U.S. Treasury bills, certificates of deposit and short-term commercial debt.

Unlike bank accounts, money market funds aren’t insured by the federal government. They almost never fail.

Unbeknownst to most investors, some of the largest money market funds today are putting part of their cash into one of the riskiest debt investments in the world: collateralized debt obligations backed by subprime mortgage loans………”

[Bubblesitter]

More info on Money Market Funds. Troubling news for those who thought their MM funds were safe. I’m shifted out.

Gold (ETFs), US Treasuries and 6 month CDs at FDIC insured institutions. That is the my entire portfolio now.

I would suggest you scrub and rescrub your portfolios for MBS, and MBS Derivatives. This is gonna get alot worse.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aJbhFOZ2T.R4&refer=home

http://www.bloomberg.com/apps/news?pid=20601109&sid=aEUtlgwzL_qc&refer=h…

(Excerpt from above link)
“Subprime Infects $300 Billion of Money Market Funds, Hikes Risk

Aug. 20 (Bloomberg) — Money market funds were invented 37 years ago to offer investors better returns than bank savings accounts while providing a high degree of safety. Most of the $2.5 trillion sitting in these funds is invested in such assets as U.S. Treasury bills, certificates of deposit and short-term commercial debt.

Unlike bank accounts, money market funds aren’t insured by the federal government. They almost never fail.

Unbeknownst to most investors, some of the largest money market funds today are putting part of their cash into one of the riskiest debt investments in the world: collateralized debt obligations backed by subprime mortgage loans………”

[Bubblesitter]

This Millenium band sounds very high risk.

Hat tip to Davidt1…….

http://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=667…

http://www.bankaholic.com/2006/millenium-bank-900-5-year-best-cd-rate/

If you have more than 100K and are concerned about your deposits, spread it among a number of banking institutions. I would feed much safer in CW bank than Millenium

As the old adage goes, if it sounds too good to be true, it probably is!. 7%+ return on a CD is too good to be true!

[Bubblesitter]

This Millenium band sounds very high risk.

Hat tip to Davidt1…….

http://www.fatwallet.com/forums/arcmessageview.php?catid=52&threadid=667…

http://www.bankaholic.com/2006/millenium-bank-900-5-year-best-cd-rate/

If you have more than 100K and are concerned about your deposits, spread it among a number of banking institutions. I would feed much safer in CW bank than Millenium

As the old adage goes, if it sounds too good to be true, it probably is!. 7%+ return on a CD is too good to be true!

[Author]

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