Does the Press want to bring on a Ression???

Larry Kudlow writes a piece about the housing report released Thursday, July 24th 2008, and actually took time to read it. Yes, he saw what the press reported but he also saw the positive news they, I assume, didn't see or didn't want to see.



Here's his posting:



The Media Are Missing the Housing Bottom
Media reports painted a pessimistic picture of today’s release on existing home sales, which fell 15 percent from a year ago and recorded higher inventories. But inside the report was an awful lot of very good new news, which appear to be pointing to a bottom in the housing problem; in fact, maybe the tiniest beginnings of a recovery.

For example, the median existing home price has increased four consecutive months and is up 10 percent since February. Yes, it’s down 6 percent over the past year. But the monthly numbers show a gradual rebound. Actually, this median home price is $215,000 in June, compared to $196,000 last winter.

And there’s more. One of the hardest hit regions is the West, including California, Arizona, and Nevada. The other two bad states are Florida and Michigan. However, existing home sales in the western region are up four straight months, and are 17 percent above the low in October. At the same time, prices in the West have increased three straight months.

Meanwhile, overall national existing home sales are basically stabilizing at just under five million. And in the first and second quarters of 2008, these sales dropped slightly by 3 percent in each case, which is a whole lot better than the roughly 30 percent sales drops of the prior three quarters.

It’s a pity the mainstream media keeps searching for more and more pessimism. The reality is a possible upturn in the housing trend, and at the very least we are getting a bottom. Stocks sold off 165 points largely on media reports of terrible home sales and prices. But I am hoping the market comes to its senses and realizes the data are a whole lot better.

And on top of all that, just as housing may be on the mend, Congress is about to ratify a huge FHA-based bailout that could total $42 billion. Congressional solons are putting up $300 billion to refinance and insure distressed loans through the Federal Housing Administration. But this dubious government agency, with a whole history of bad portfolio management, may wind up taking in the very worst loans on the books.

Of course, taxpayers are on the hook. More government semi-socialism.
posted by Money Politic$ at 2:05 PM

Yes, but what about the Surge????

Who would of thunk it, Katie Couric being the strong voice in her one-on-one interview with Barack Obama. In this excerpt from CBS News' web site she actually asks some follow up questions about Obama's thoughts on the US surge in Iraq. His answers are evasive and juvenile in substance. What he spits out shows his utter lack of competency in this very important, in my opinion the most important facet of the executive, Commander and Chief. Watch and listen to her ask at least four times about how the surge was responsible for the things he sites as to the true reasons for the fantastic progress we've seen over the last year. http://www.cbsnews.com/sections/i_video/main500251.shtml?id=4284497n

Unfortunately you will not see this on the evening news, CBS buried this in their web site hoping no one would see it. How much of the other interviews have we not seen, how afraid are the big three news corps. of offending him and risking their chance to help in his run to the White House. I know I don't have to point out how deep the media is in the tank for Obama, but this illustrates it quite well. I truly think that the big three would gain some respect from the citizens of this country if they did take him on like Katie did, and then air it so every one can see what an empty shirt this man is. Give this man a mic and a well written speech and holly cow, he will tear it up. But put him in a room one on one with some one that might have a challenging question and he is a fool on steroids. God help us if he is elected, he is the weakest candidate for president I have ever seen.

My email to Governor Crist on "Climate Change"

Dear Governor:
"One of the most important things Gov. Charlie Crist has done in office is put Florida at the forefront of the global warming fight. His bold call for reduction of greenhouse gas emissions by 80 percent below 1990 levels by 2050 will be a challenge to achieve."
Florida Governor Crist, Florida Times Union

Governor Crist, please pause and take a long look at your views on Climate Change. Thinking that we have anything to do with it is being shown to be a farce every day now. The climate computer models are flawed, the science is not sound, and more and more real scientists are coming down on the side of people. More scientists are leaving the ranks of the "consensus". Please see my blog, www.capmsblog.blogspot.com and see my views on this. The economics of "fixing" global warming will hurt the low and middle income folks in our state and our country and will devastate the poorer nations of the world. Look at the science, judge it objectively and you will find that this is the biggest hoax ever perpetrated on our nation and the world.

Like I've stated in the past on my blog, find one, just one scientifically reviewed study that proves that there was one moment in time that an increase in Co2 preceded an increase in global temperature and I will erase all my blog entries on the subject and donate $500 to your favorite charity.

Thank you for your time.

Thomas S. Kirk,II
Orlando, FL

The governors reply:

Thank you for contacting Governor Crist. The Governor appreciates your concerns about his environmental initiatives and asked that I respond on his behalf.

Governor Crist wants to know how Floridians feel about the many critical issues we face. The Governor appreciates the opportunity to review the information presented in your blog, and promises to keep your thoughts in mind as he forms policy for addressing these concerns.

Thank you again for contacting the Governor’s office. For more information about the Governor’s initiatives, please visit our website at www.flgov.com.

Sincerely,

Willem J. de Greef

Office of Citizen Services

Boy, I feel better now....NOT!