Wednesday, June 22, 2011

That has got to make you feel good.

Misery Index.

"We don't have a precise read on why this slower pace of growth is persisting," Bernanke said. He said the weak housing market and problems in the banking system might be "more persistent than we thought."

Oh for shits sakes. Really?

People know they can't get access to credit to do the things they need. So they have been saving and saving and saving - so they have money to go forward. That is why corporations have record money on the balance sheet. It's also why they aren't spending it.

Investors are scared shitless. If they aren't - I question their sanity.

And our Fed is completely confused as to what is going on. That makes everyone with money feel soothed I'm sure.

Hopefully the Fed will be right on that pesky inflation. I mean... he has been with everything else so far. Right? Seniors are counting on it.

As someone who would buy the shittiest house anywhere and make it livable - if someone gave me a million dollars and said spend it, I would not buy some houses. And it's something I love to do. Just the hassle alone. Getting it in and out of escrow.

You figure to turn a house these days, you probably need at several years. Even in an advancing market. If one were to ever present itself. Why would anyone right now put up that kind of capital? The hassle of dealing with contractors for rehab, and then the banks. It's too much.

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