16

12/09

More Government Propaganda: Housing Starts and Permits Report for November

21:32 by Administrator. Filed under: Whatever

By John Galt

December 16, 2009

I’ll hit the inflation report tomorrow night gang in much more detail but the “huge” increase in housing starts month over month was once again another statistical mirage among many created to make everyone feel their “Animal Spirits” and go hump Santa like a dog in heat with a credit card they’ve attempted to max out over and over again.

First and foremost, why they use “seasonal adjustments” for the Building Permits number on new homes is beyond most people with any common sense. The number is readily available from every county in every state and the reporting is fairly standardized nationwide. As they media attempts to pump you up with more hype, look at this chart for some reality:

PERMITSNSA11_09

Now I’m no expert and no, I did not stay in a Holiday Inn Express last night but sadly, unless I’m blind, those starts are still below the levels of the Eisenhower administration and for some strange reason I just do not think of Obama as Ike in any way, shape or leadership form. But alas, the MSM decided to hype up the Housing Starts data so perhaps the Bubblevision Bubbleconomists had some great news there that even my Department of Commerce spreadsheets missed:

STARTSNSA11_09

Color me insane but if my eyes do not decieve me, those starts are down there in Ike territory also and I do not mean Hurricane Ike! That’s right gang. When you look at the data that is not seasonally adjusted (Translation: Manipulated to make the Fed and Administration look good), you get new housing permits ringing in at a horribly low 40.2 thousand and housing starts were a 42.2 thousand. Thus the proclamations that housing has improved and more building was on the way, like we needed more empty homes, are completely false and the statistical recovery that is being proclaimed is just that, because without new home building starting up and expanding there is no recovery any time soon.

Because the other dirty little statistical detail that “they” don’t want to admit when they announce new home sales is that they never ever ever ever want to give you a hard number on the amount of actual closings.

Party on Wayne, Party on Garth.

And Merry Grinchmas.

Comments

RSS feed for comments on this post.


Sorry, the comment form is closed at this time.