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Started By
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re: Don't Doubt the Bernanke: Big Ben Works His Magic Again
Posted on 3/7/11 at 11:08 am to prplhze2000
Posted on 3/7/11 at 11:08 am to prplhze2000
quote:
I believe that the liquidationist policies of Andrew Mellon were tried and proved to be disastrous.
wrong. Hoover/FDR's jacking up taxes and regulation is what prolonged that nightmare.
The stock market actually recoverd in value after the crash w/n a year.
2
Posted on 3/7/11 at 12:02 pm to RollTide4Ever
quote:If by 'recovered' you mean it was still only at 60% of its pre-crash level, then I agree with you.
The stock market actually recoverd in value after the crash w/n a year.
Posted on 3/7/11 at 12:32 pm to Doc Fenton
quote:
On the next day, Thursday, February 24, out comes the NAR data for January 2010, and it was a real shocker. From CNNMoney: " Existing Home Sales Inch up in January." "At the same time, the median home price fell 3% to $158,000, compared to a year earlier." (See also, NAR webpage.) Incredible.
NAR stats tend to make normal sunshine pumpers look depressed and suicidal. 3-weeks ago Zillow reported my house was up $8k, Saturday it reported it was down $9k. I choose to disbelieve housing stats in general (especially NAR generated) (I believe the data is tainted/incomplete) like I look at govt stats when any given agency has a questionable agenda.
Posted on 3/7/11 at 3:26 pm to RollTide4Ever
Mellon was one of the best T-Sec's we ever had.
Posted on 3/22/11 at 1:31 am to Doc Fenton
Volume for January was revised upward, and volume for February remained at a decent annualized rate, despite the lack of any tax credits such as those that existed in 2009 & 2010.
The median price dropped from January to February, as is normal, but the $156,100 level will likely be very close to the low for 2011, compared to a low of $166,500 for 2009 and a low of $164,600 for 2010.
Existing Home Sales from NAR
(S.A. annualized volume in millions, median sales price in thousands of dollars)
2011-Feb, 4.88, 156.1
2011-Jan, 5.40, 157.9
The monthly high for 2009 was a median price of $181,800, and the high for 2010 was $182,800, so we'll have to see where the high for 2011 goes without the help (cross your fingers) of any more Congressional tax subsidies.
In any case, I stand by my thinking that the price drops occurring in tandem with relatively normal sales volume indicates that Bernanke was likely justified in going through with QE2. Without it, we probably would have seen prices linger at higher median values, while sales volume would have continued to be anemic, leading to a greater inventory backlog.
The median price dropped from January to February, as is normal, but the $156,100 level will likely be very close to the low for 2011, compared to a low of $166,500 for 2009 and a low of $164,600 for 2010.
Existing Home Sales from NAR
(S.A. annualized volume in millions, median sales price in thousands of dollars)
2011-Feb, 4.88, 156.1
2011-Jan, 5.40, 157.9
The monthly high for 2009 was a median price of $181,800, and the high for 2010 was $182,800, so we'll have to see where the high for 2011 goes without the help (cross your fingers) of any more Congressional tax subsidies.
In any case, I stand by my thinking that the price drops occurring in tandem with relatively normal sales volume indicates that Bernanke was likely justified in going through with QE2. Without it, we probably would have seen prices linger at higher median values, while sales volume would have continued to be anemic, leading to a greater inventory backlog.
Posted on 3/23/11 at 10:36 am to Doc Fenton
Sales of new U.S. homes tumble 16.9% to record low LINK
eta: Lest we forget:
eta: Lest we forget:
quote:
the margin of error is plus or minus 19.1%
This post was edited on 3/23/11 at 10:40 am
Posted on 3/24/11 at 10:52 am to Doc Fenton
Without QE2 the US economy tanks. I see no choice for the Fed at this point but to continue with QE and buoy the equities markets.
How can housing be expected to recover when wages are stagnant? Without QE continuing housing and CRE goes into another swan dive.
Disclosure: I followed PIMCOs move and dumped US Ts.
How can housing be expected to recover when wages are stagnant? Without QE continuing housing and CRE goes into another swan dive.
Disclosure: I followed PIMCOs move and dumped US Ts.
Posted on 3/24/11 at 11:06 am to RasinCane
Permanent QE? Awesome.
Posted on 3/24/11 at 11:32 am to RasinCane
I don't think QE2 had hardly any effect on the housing market at all.
Posted on 3/24/11 at 11:43 am to RasinCane
quote:
Without QE2 the US economy tanks.
Why?
Posted on 3/24/11 at 1:48 pm to Tiger JJ
What happened when Ben stopped QE1? To equities? RE? etc?
Did the economy strengthen?
Front run the Fed. Go long what they are buoying with QE and that is equities. Not real estate cause wages are stagnant and what is going to boost wages? Not the Fed QE. Ben will print cause he is a one trick pony. Go Ben!
Did the economy strengthen?
Front run the Fed. Go long what they are buoying with QE and that is equities. Not real estate cause wages are stagnant and what is going to boost wages? Not the Fed QE. Ben will print cause he is a one trick pony. Go Ben!
Posted on 3/24/11 at 1:52 pm to RasinCane
quote:*sniff* Rivers, is that you?
RasinCane
Posted on 3/24/11 at 2:00 pm to LSURussian
LSU Russian? are you a Russian? I'm not, nor a River???
Posted on 3/24/11 at 2:10 pm to RasinCane
quote:Prove it...use the quote function.
I'm not, nor a River???
Posted on 3/24/11 at 2:45 pm to LSURussian
Rivers kryptonite.
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