Daily Archives: January 23, 2013
Here are today’s statistics on the state of the economy:
The MBA reports mortgage applications rose 7.0% last week, with purchases up 3.0% and re-fis up 8.0%.
The FHFA House Price Index rose 0.6% in November, as home prices continue to rise.
In weekly retail sales, Redbook reports same-store sales rose a weak 1.8% on a year-over-year basis. ICSC-Goldman Store Sales fell -1.5% for the week, the third straight decline, but Year-over-year sales were up a solid 3.2%.
Ok, they’re downbeat according to Gallup:
So what? I mean, this is what I don’t get. The American public just re-elected possibly the worst and most incompetent president in my lifetime (what the hell do you have to do to get fired?), they refuse to make their leaders face up to the realities of the fiscal situation, they give away freedoms like some universities give away condoms and suddenly they’re “downbeat” about America’s future?
They should be downbeat – they as much as anyone have generated the culture that has produced these politicians that they continue to reward with reelection term after term. If you don’t make those who represent you do what they should be doing, if you continue to reward their kicking the can down the road with re-election, why in the hell should they do anything? Especially when those who try “die”, politically speaking.
And, of course, you have the compliant press who has no compunction anymore about pursuing an agenda that supports the premise that there is a free lunch and the rich should pay for it.
I’m fed up.
Can you tell?