Archive for August 25th, 2010

Our economy is an insane asylum run by lunatics

Wednesday, August 25th, 2010

Full story here from ZeroHedge.

Common Sense: No problem can be fixed before a solution is formed. No solution can be formed until the underlying problems are clearly identified.

The officials in charge of fixing the economy have not articulated the underlying problems. Worse, many of these officials – directly or indirectly – created or contributed the underlying problems. (more…)

UVB-76

Wednesday, August 25th, 2010

Just because there’s not enough joy and randomity in life contemplating the disintegration of the financial system, I bring you vague and tantalizing tidbits from international intrigue:

http://en.wikipedia.org/wiki/UVB-76

UVB-76 (dead man switch), has come to life. (more…)

New home sales plunge to new lows

Wednesday, August 25th, 2010

Full story here from ZeroHedge.

First existing, now new home sales: 276K (yes a record low) on expectations of 330K, and a revised prior of 315K – a drop of 12.4% MoM. And, even worse, prices are dropping as deflation rages: the Home Price Index down 0.3% on expectations of a 0.1% increase (and previously at 0.5%). Months of supply: 9.1. Stick a fork in it. (more…)