Blog Archives

Another good reason not to trust rich Republicans…

This was on NBC:

“From the moment Mitt Romney stepped off stage Tuesday night, having just delivered a brief concession speech he wrote only that evening, the massive infrastructure surrounding his campaign quickly began to disassemble itself.

Aides taking cabs home late that night got rude awakenings when they found the credit cards linked to the campaign no longer worked.”

– NBC’s Garrett Haake

No trickle up…guess that falls in line with trickle down. Obama spent most of the night praising and supporting his campaign workers.

 

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Things are looking up for the Housing Market…

Permits to build new homes rose sharply in may, suggesting a beginning housing recovery remains on track.

The Commerce Department said on Tuesday that although groundbreaking on new homes dropped last month, upward revisions to data for March and April put starts above 700,000 for five straight months, a first since 2008.

This means a big turn of eventst is under way: while the broader U.S. economy appears to be losing steam, housing is gaining traction and has become a relative bright spot. Homebuilder sentiment has risen to a five-year high.

“The incipient recovery in housing market activity, in short, seems not to have been affected by the recent softening in much of the other economic data,” said Ian Shepherdson, an economist at High Frequency Economics in Valhalla, New York.

Starts for single-family homes, which account for most of the market, increased 3.2 percent.