Free Markets, Free People

Daily Archives: July 24, 2013

Economic Statistics for 24 Jul 13

Here are today’s statistics on the state of the economy:

The MBA reports that mortgage applications fell -1.2% last week, with purchases down -2.0% and re-fis up 1.0%.

Markit’s PMI Manufacturing Index Flash rose a full point to 53.2 in July.

New Home Sales proceeded at a 497,000 annual rate in June, with a very tight availability of only 3.9 months at the current sales rate.

Dale Franks
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If you are still wondering why Detroit is bankrupt …

Here’s a perfect example, one which occurred after the bankruptcy filing – because, you know, Detroit doesn’t have enough problems of their own:

The Detroit City Council on Tuesday unanimously passed a resolution calling for a federal investigation to see whether civil rights charges are warranted against George Zimmerman, who was acquitted July 13 of second-degree murder and manslaughter charges in the killing of Florida teen Trayvon Martin.

The resolution, sponsored by Councilwoman JoAnn Watson, sparked a discussion over the need for city leaders and others to focus more on violence in Detroit.

“We need to have that same level of outrage with respect to the black-on-black crime that takes place in our community,” Councilman Kenneth Cockrel Jr. said. “How many people were shot — maybe even shot and killed this past weekend in the city — mostly likely by folks who look just like them?”

Well yeah.  And, how about trash pickup, potholes, streetlights, Detroit’s bills, yatta, yatta, yatta.

Instead you have a councilwoman playing for headlines and pushing the agenda of an equally bankrupt “civil rights” organization because … well you tell me why.  Because I don’t get it.