Home Sales, Leading Indicators Unexpectedly Rise

[red states rule]

Hey, wait a minute

I thought banks were not lending, and the US economy was going to hell without Obama's spending plan

What happened?????


By Bob Willis and Shobhana Chandra

Jan. 26 (Bloomberg) -- Two measures of U.S. economic performance unexpectedly turned positive in December, in sharp contrast to the tens of thousands of firings announced by companies as diverse as Caterpillar Inc. and Sprint Nextel Corp.

The National Association of Realtors said sales of existing homes rose 6.5 percent to an annual rate of 4.74 million last month, propelled by the biggest slump in prices since the Great Depression. The Conference Board’s index of leading economic indicators increased 0.3 percent as the supply of money expanded.

Analysts said the indicators, while reflecting Federal Reserve and Treasury efforts to stave off a complete collapse of the economy, needed to be viewed against the backdrop of surging firings -- 72,500 announced today alone. The job losses, they said, may deepen the pullback in consumer spending and make banks more reluctant to lend, exacerbating what’s already the longest recession since 1982.

http://www.bloomberg.com/apps/news?p...Lhk&refer=home

[Trigg]

Hey, wait a minute

I thought banks were not lending, and the US economy was going to hell without Obama's spending plan

What happened?????


By Bob Willis and Shobhana Chandra

Jan. 26 (Bloomberg) -- Two measures of U.S. economic performance unexpectedly turned positive in December, in sharp contrast to the tens of thousands of firings announced by companies as diverse as Caterpillar Inc. and Sprint Nextel Corp.

The National Association of Realtors said sales of existing homes rose 6.5 percent to an annual rate of 4.74 million last month, propelled by the biggest slump in prices since the Great Depression. The Conference Board’s index of leading economic indicators increased 0.3 percent as the supply of money expanded.

Analysts said the indicators, while reflecting Federal Reserve and Treasury efforts to stave off a complete collapse of the economy, needed to be viewed against the backdrop of surging firings -- 72,500 announced today alone. The job losses, they said, may deepen the pullback in consumer spending and make banks more reluctant to lend, exacerbating what’s already the longest recession since 1982.

http://www.bloomberg.com/apps/news?p...Lhk&refer=home

Banks are still lending.......to people with good credit.

These new home sales are a good example of people who are taking advantage of cheaper priced homes and getting out of rental properties and apartments.

[Abbey Marie]

Banks are still lending.......to people with good credit.

These new home sales are a good example of people who are taking advantage of cheaper priced homes and getting out of rental properties and apartments.

And departing from those sound lending practices is what started this whole mess in our economy in the first place.

[Trigg]

And departing from those sound lending practices is what started this whole mess in our economy in the first place.

[red states rule]

And departing from those sound lending practices is what started this whole mess in our economy in the first place.

You mean the Bush tax cuts are not to blame Abbey?

[Abbey Marie]

You mean the Bush tax cuts are not to blame Abbey?

Geez, now I'm not sure. I will have to consult the Omniscient One for the answer.

[red states rule]

Geez, now I'm not sure. I will have to consult the Omniscient One for the answer.

I would like to ask the Omniscient One how this good economic news could possibly occur since his stimulus plan has not passed and we are in the worst economy since the Great Depresion

[Kathianne]

While we wait for that 'stimulus' package to pass, aka remaking the US econ system, there are signs around here of some improvement. Several homes have sold between here and where I work in the past 2 weeks, today I saw two commercial parcels marked 'sold' that have been for sale for over a year.

I think there are hard times for many in the coming months, then we should see an upturn-IF Obama is kept from going all FDR on us.

[Silver]

Utterly amazing that the Messiah would grace us with a miracle so soon in his reign....

[moderate democrat]

It seems to me that it might be prudent for republicans to sit back and see just what Obama can get accomplished between now and the 2010 mid term elections, since clearly, they will be unable to have any impact on his legislative agenda between now and then.

Either that, or you all could hope for his failure, as Rush did, which would be a clear indication of how much you value party over country.

Think about it.

[manu1959]

It seems to me that it might be prudent for republicans to sit back and see just what Obama can get accomplished between now and the 2010 mid term elections, since clearly, they will be unable to have any impact on his legislative agenda between now and then.

Either that, or you all could hope for his failure, as Rush did, which would be a clear indication of how much you value party over country.

Think about it.

why would i want him to succeed with an agenda i am against....i didn't see you all rallying around bush and his agenda......

[Kathianne]

It seems to me that it might be prudent for republicans to sit back and see just what Obama can get accomplished between now and the 2010 mid term elections, since clearly, they will be unable to have any impact on his legislative agenda between now and then.

Either that, or you all could hope for his failure, as Rush did, which would be a clear indication of how much you value party over country.

Think about it.

Pshaw, I'll support things that sound reasonable and dis those that don't. It's better than any gave Bush.

[Abbey Marie]

Pshaw, I'll support things that sound reasonable and dis those that don't. It's better than any gave Bush.

Amen to that, Sistuh.

[moderate democrat]

I, for one, never hoped for the failure of America merely to advance my own political agenda... but I guess that is what differentiates democrats from republicans.

[manu1959]

I, for one, never hoped for the failure of America merely to advance my own political agenda... but I guess that is what differentiates democrats from republicans.

america will fail if we don't change gun laws......withdraw from iraq and invade afganistan again.....increase taxes on the rich......increase government spending on new deal programs.....create socialized medicine .......

holy shit i am shocked it didn't fail before now.....thank god obama showed up.....