A few interesting tidbits... the slowdown in housing is still going on, deepening.
I had called myself the peak last summer with empirical evidence. It now seems that the US association of realtors has been calling the peak for August 2005. My call was pretty close... and a year earlier than the experts...
Enough back slapping!
US Housing starts fell another 6% (Annualized) in August to the lowest level since April 2003.
The Fed is meeting tomorrow once again. Many experts think the interest rates will remain unchanged. Probably true. The Fed generally meets expectations as it does not want to fluster the markets at this point. We are at a crossroads.
The worst period of the year, and indicators are looking down. A rate rise might be needed, but that would be the catalyst for a much larger drop that is coming.... and well, we all know the elections are in November, and they don't want to upset those guys.
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