[Money-matters] FW: [Money Matters Newsletter] Housing Sales Plummet! Governments Forced to Trim Fat. Update June 24, 2010

Thu Jun 24 14:45:18 UTC 2010

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Money Matters Newsletter: Housing Sales Plummet! Governments Forced to Trim
Fat. Update June 24, 2010

Marc's Notes: 
Many things are happening in the news and the astute should be studying all
these issues closely. The devil is in the details.
First, I have been screaming from the roof tops that the housing recovery
was not real. Government credits for homebuyers only brought forth people
who would have bought later and cannibalized future sales. Now, to the
surprise of most economists (not this one), sales for new homes dropped off
the cliff, down 33%! 
Bloomberg: New-home sales in May fell from April to a seasonally adjusted
annual sales pace of 300,000, the government said Wednesday. That was the
slowest sales pace on records dating back to 1963. And it's the largest
monthly drop on record. Sales have now sunk 78 percent from their peak in
July 2005.
I actually sent an email to a few of my realtor friends about a month and a
half back telling them to save their money because real estate would drop
dead as soon as the credit expired.  There was never any real home building
recovery. Buyers were just juiced forward to buy in the first quarter, now
sales hit the wall. Expect ANOTHER ANNOUNCEMENT from your Government soon me
thinks. These guys just won't learn. Look for terrible housing sales stats
in the next few months then more talk in Washington about trying more tax
dollars to attempt to thwart the un-thwartable.
The truth is housing is still high priced and needs to come down and that's
what it will do. And did you hear the latest from a Federal Housing Mortgage
economist? He suggested what I mentioned over a year and a half ago. Like
FDR making farmers slaughter cows and plow up fields, this government shill
now suggests we bulldoze houses to rid the oversupply! HAHAHAHAHAHAHA!  I
said it on this newsletter many months ago, true, but still laugh that HE
DID!  And this is from the government agency  (FHA) that's mandate is
supposed to "Make housing more affordable" ! HAHAHAHAHAHA!   Lets bulldoze
'em. 
Now that's affordable! Oh my, you can't make this stuff up.
Meanwhile the government spending spree on all these bailouts and programs
may be coming to a forced end. Debts are just TOO LARGE throughout the world
and governments everywhere (states, cities, countries) are realizing they
just can't keep spending money. Cutbacks are coming as the debts are too
high and can no longer be serviced. Its time to FACE THE MUSIC. And we will
face it here in the US as well, soon enough.
Crunch time is approaching. Austerity is coming to a city, town, state and
country near you. The bills are coming due. The economy will probably start
hard down soon again, but this time we have the burden of the trillions in
debt these clowns spent to try and stop the unstoppable. The problem always
has been too much debt and they tried to solve it by amassing more of it,
and that wont work and they will learn this eventually. The problems were
just pushed farther down the road and now they are coming back and now we
have more debt to boot.
Other news: Unemployment stays stubbornly high as we indicated it would way
back in the spring of 2009. Obama is talking higher taxes again. He believes
further bloodletting from the remaining productive citizens will fix things.
That's right Barrack. Starve the remaining wagon pullers and expect it to go
faster.
Oil is oscillating; Natural gas is doing the same. The US DOLLAR is
continuing its rally (probably its last one) and gold and silver are
probably building a base to launch another rally. Stock markets are rolling
over and alert remains at Orange/Red.
The Chinese are talking about removing its currency peg to the US DOLLAR at
the urging of Washington, but this will add to inflation as imports will
then RISE in price. This puts further stress on a weakened US consumer base,
further adding to the woes of an anemic economy here in the states.
Unintended consequences abound as these clowns try and "fix" things, but
only end up making it worse with leaks and diseases springing up everywhere.
They more they "try", the more we "die".

Deflation (falling prices) will clash with inflation and the governments
will do what they always do. print more, borrow more, meddle more, tax more.
Hyperinflation will be the end result but may still be years off. Keep in
mind hyperinflation is NOT an economic event, but a MONETARY one. What that
means it will hit out of the blue, hit fast and hard and devastate US DOLLAR
HOLDERS.  But first look for more falling prices in housing, stocks, bonds,
debt, services and benefits, offset by higher taxes, higher prices in
staples and rampant rising prices overseas in overheated markets like India
and China. Something wicked this way comes. PREPARE.

All in all this summer will probably be interesting. Expect more
announcements like the one I just saw, called the "HARD HIT FUND". This few
billion of tax payer money will go towards paying homeowners in hard hit
states like Nevada and California. The taxpayer money will pay mortgages,
help pay expenses, fix up peoples houses; reduce their principals and pay
for other bailouts. More taxpayer money to bailout the unbailable.
Keep in mind, more then half those bailed out re-default. More money thrown
down the rat hole to try and stop the unstoppable. 
FACT: HOUSING IS TOO EXPENSIVE AND NEEDS TO COME DOWN MORE.
Period. 
And it will, by A LOT. 
All those that got sucked in through the housing credit?  Guess what.. You
could have saved money by waiting a few more years. 
Dream Portfolio: Hold all positions as before. Super Dividend Payers list
just updated last week with more high paying MUTUAL FUNDS and more HIGH
PAYING STOCKS!  Check it out.
Money Matters T SHIRTS are way cool and just 12 bucks!
Another Money Matters Margarita night with me is coming!  Stay tuned, You
can sit down with me, ask me what you want, I buy you off the menu dinner
and all the margaritas you can drink. We had a BLAST at the last one! Stay
tuned. We will be offering it on this site and on the air in about 3 weeks !
Email me with your questions. Enjoy these summer days. I will keep you
posted!

All for now,
Marc

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Where I buy some of my gold: What I call "Possession Gold". 

Monex Deposit David Feldberg x 2216
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1 (800) 949 4653 (GOLD) ext 2216 You may refer to Marc Cuniberti and Money
Matters and David will know what Marc recommends. 
Take delivery and store in a safe place. You may have 25 % of this amount in
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buy NO Collectibles, No Margin account, No Commodity accounts. Take delivery
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