Bob Chapman on Gold and Silver discount trading 25 Octb 2010
Bob Chapman wrote in the International Forecaster of the 20th October 2010 :"...One thing we can guarantee is dollar devaluation, versus other currencies and gold and default. This is another lock Americans are going to have to deal with. Social Security and Medicare are already in default. Why do you think government wants to steal your retirement plans? How else can they keep them going with other government spending, such as wars of endless duration and creating employment in a staggering economy? The bank known as Washington has already been broken.
Even Mr. Bernanke, Chairman of the Fed, tells us today’s deficits are unsustainable, but few want to listen. It is just like in 1967 when we predicted that free trade, globalization, offshoring and outsourcing would be used to deliberately destroy the US economy, and no one wanted to listen. It has been a policy that has cost the dollar 98% of its purchasing power. What do you think gold, silver, platinum, palladium and commodities are telling us?...."
Tuesday, October 26, 2010
Home Price Index Falls 0.2% in August
In Tuesday's release of the S&P's/Case-Shiller home price index, housing prices fell by 0.2 percent in August from the month before. Fifteen of the 20 featured cities showed monthly price declines, and prices are expected to continue to drop in the coming months.
Phoenix saw the largest decline with a 1.3% drop in home prices. Prices in three California cities--San Francisco, San Diego and Los Angeles--which had previously showed strength, also fell, but by less than 1%.
Detroit, Chicago, Washington, New York and Las Vegas were the only cities to show monthly price increases.
Although the index has risen 6.7% from its lowest level in April 2009, it remains almost 28% below its peak in July 2006.
Housing markets may continue to struggle due to recent complications with foreclosure documents. Would-be buyers are refraining from home purchases because of potentially invalid foreclosure purchases. In an October National Association of Realtors survey, about 23% of real estate agents said they had clients no longer interested in purchasing a foreclosed property due to the foreclosure mess.
Phoenix saw the largest decline with a 1.3% drop in home prices. Prices in three California cities--San Francisco, San Diego and Los Angeles--which had previously showed strength, also fell, but by less than 1%.
Detroit, Chicago, Washington, New York and Las Vegas were the only cities to show monthly price increases.
Although the index has risen 6.7% from its lowest level in April 2009, it remains almost 28% below its peak in July 2006.
Housing markets may continue to struggle due to recent complications with foreclosure documents. Would-be buyers are refraining from home purchases because of potentially invalid foreclosure purchases. In an October National Association of Realtors survey, about 23% of real estate agents said they had clients no longer interested in purchasing a foreclosed property due to the foreclosure mess.
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