CONSTRUCTION

Proof the World is Going Insane: China Explores Bond Buying aka QE Chopsticks Style

by John Galt June  1, 2014 16:05 ET Just when the world doesn’t need any more hints of bank insanity, Ambrose Evans-Pritchard of the UK Telegraph reports the following this afternoon: China explores bond buying in first hint of QE Insanity? Yes. This is a nation with an annualized rate of change in GDP growth of 7.7%, allegedly huge foreign capital reserves, and a centralized dictatorship structure for a government that is the envy of the Western world’s banksters and political elites. From the article: China’s central bank is exploring direct…


The Unemployment Data You Were not Supposed to See

  by John Galt July 8, 2012 20:45 ET   If you read the mainstream media, pro-Obama websites like “Business Insider” or “CNBC.com,” you might be under the idea that this past Friday’s unemployment report was no big deal, housing has bottomed, and the transportation industry is indicating that growth is back in this anemic economy if you read the headlines and did not do your own research.   Well hell, I’m here to do the work that the mainstream media won’t do and in this first of two parts of…


Private Construction to finish 2011 at lowest level since 1997

by John Galt January 3, 2012 11:15 ET To all this morning’s construction report a joke would be an insult to comedians. The Bubblevision and agenda driven bloggers who wish to deal in hopium rather than facts believe or encourage the seasonally adjusted data to be accepted as the gospel and to ignore all facets of reality. This suspension of belief is destroyed when one takes the non-seasonally adjusted data and observes the projected annualized total, which if the normal declines from November to December bear out, the estimates would present…


And now some Truth about Yesterday’s Housing Data

By John Galt December 21, 2011 – 09:50 ET Because it is poor form to report bad economic news before Christmas and blasphemy to acknowledge data which gives the impression that our Imperious Leader (sorry, Dear Leader was taken) is impotent and incompetent regarding economic matters, the housing data reported yesterday was trumpeted as an indication of a possible bottom or start of the bottoming process in the housing market. In fact some blogs like Business Insider performed their usual duty of posting blog entries from both point of views but…


10/19 Housing Data: Not as good as the Headline Propaganda, as usual

By John Galt October 19, 2011 – 21:45 ET US Economy: Home Starts Jump, Consumer Prices Stabilize BusinessWeek  Housing starts jump 15 percent in September Kansas City Star Increase in housing starts could portend improving market The Hill (blog) Just sigh. There is no bottom until there is no hope. When will these people learn? Of curse when there is an agenda to yell into an empty stadium for everyone to rise up and cheer, the current crop of “journalists” and “economists” acting as agents of propaganda do the best they…


No Picture

The Housing Disaster Rolls On – The Spring of our Winter Discontent

By John Galt May 17, 2011 The Commerce Department released the latest report on housing starts and permits revealed that no sane, logical, intelligent soul would accept the FIBS (Financial Infomercial Broadcasting Services, aka CNBC, FBN, BLM) mantra of the past year that housing has bottomed and that the recovery was well under way. Amazingly enough the preachings and screeching of the pro-regime talking heads was non-existent on the morning radio or television programs. Thus there is a realization that perhaps, just perhaps, free money from the Federal Reserve does not…


No Picture

March Construction Spending Report: Another Sharp Decline

By John Galt May 2, 2011 The report for March Construction Spending from the Census Bureau this morning reflected another poor showing this month. Private construction was down 11% from 2010 levels which indicates that the spring season has not brought any relief to the industry. Particularly interesting beyond the drop in residential construction are the sharp declines in lodging, office, commercial, and manufacturing which plainly displays the lack of faith American corporations have in this “recovery” whereas they are not investing in expanding domestic infrastructure or apparently starting any number…


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