Free Markets, Free People
The following US economic statistics were announced today:
The MBA reports a big 11.1% surge in mortgage applications for last week, with purchases up 8.0% and re-fis up 12.0%.
Export prices rose 0.9% in August, while import prices rose by 0.7%. On a year-over-year basis, export prices fell -0.9%, while import prices fell -2.2%.
Wholesale inventories continue to rise relative to sales, up 0.7% in July, while the stock to sales ratio rose to 1.21, the third straight increase and the highest of the recovery.
To paraphrase Jazz Shaw of HotAir, if anyone is wondering why intervention in Syria would be a mistake for us, what happened to our Ambassador in Libya should answer any questions in that regard.
In both Libya and Egypt, unless you just refuse to see it, the future is pretty apparent.
Oh, there will be the usual “regret” from both governments and promises of justice, but the deeds are done and we all know how the promises will turn out.
If foreign relations is Obama’s strong point, I’d hate to see his weak point.
Oh, wait … we’re living that, aren’t we?