Patterico's Pontifications

10/26/2009

Economic Charts-of-the-Day

Filed under: Economics — DRJ @ 9:03 pm



[Guest post by DRJ]

Via Doug Ross: Gulp.

— DRJ

8 Responses to “Economic Charts-of-the-Day”

  1. I mistakenly posted this in Patterico’s name instead of mine. I’ve corrected it and apologize for any confusion.

    DRJ (dff2ca)

  2. Fear naught, DRJ !

    Myron will *still* be confused ! It’s not *your* fault, however …

    Alasdair (205079)

  3. Kudos to Biff Spackle!

    daleyrocks (718861)

  4. Ruh Roh, indeed.

    We are doomed.

    Patricia (c95a48)

  5. I was reading some notes on the Value Investor conference held last week in NYC. One of the renown mortgage specialists who spoke said don’t be mislead by the RE industry’s published estimates of the home supply which is varies around 8 to 10 months overhang. Because when you include all the holdings of banks and other lenders who have non-performing mortgages on homes they are not foreclosing on for various reasons…you end up with a minimum 24 month supply using the estimated sales rates. The only green about that is their complexion. The suggestion was to short the US builders ETF. It’s on my long list of shorts now. Which is good because the long list is rather short.

    political agnostic (c8c8f8)

  6. Sadly there is also the fact that The Fed has been buying up equities over the past year. There is an interesting presentation here by an investment analyst who pegs the recent “stair step” rise in the market to the Fed’s purchases. The conclusion is that that can’t go on much longer and he looks for another bottoming of the market early next year.

    Couple all of the above with the looming roosting chickens of monetary policy and inflation and … boy I just don’t even want to speculate for fear I may stick my head in an oven.

    BJTexs (a2cb5a)

  7. I blame Bush…and Cheney…and Rove.

    Dmac (5ddc52)

  8. That was a good chart, BJTexas.

    So the market is up, but it’s a Potemkin Market. That near trillion of toxic assets is still there but in a different pocket.

    Patricia (c95a48)


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