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I wonder if this was 'unexpected' and caught economists by 'surprise;???
Quote:
Orders for U.S.-made durable goods stumbled for the second straight month in December, the Commerce Department reported Thursday. Orders fell 2.5% in December follows a revised 0.1% decline in November.
This is the fourth decline in the past five months.
Quote:
The report on durable orders and shipments was much weaker than expected. Economists surveyed by MarketWatch were anticipating a 1.0% rise
No, I don't I just don't like not being in touch with reality. And the realty is that housing bubbles are really bad long term for the economy. The most painless way to deal with them is up minimum wage far enough to push the median household income up far enough to support the median house price at the peek of the bubble. Economically this would be like having a tooth pulled with out Novocaine. Novocaine in this instant would be money to everyone. Big check $1k per month for a bit.
Perhaps what needs to happen is that the economy should stop being based upon 'bubbles'?
What happens when there are no more bubbles?
I don't think that jobs will come back before this current bubble pops. Bubbles are just printed money. People are confusing the units of exchange of wealth for wealth. Wealth comes from making something. Cheaply built way overpriced houses are not a source of wealth. For get that their prices go up and you can spend the equity in them. That is not wealth it is a false economy. Making something that is what is needed. Adding value.
We get to see what the true value of our food is. That is what we will see when their are no more bubbles.
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