The "up-to-the-minute Market Data" thread

Get a load of this one!

Realtors: We Overcounted Home Sales for Five Years
www.cnbc.com...

"All the sales and inventory data that have been reported since January 2007 are being downwardly revised. Sales were weaker than people thought," NAR spokesman Walter Malony told Reuters. "We're capturing some new home data that should have been filtered out and we also discovered that some properties were being listed in more than one list."

The benchmark revisions will be published next Wednesday and will not affect house prices.

Early this year, the Realtors group was accused of overcounting existing homes sales, with California-based real estate analysis firm CoreLogic claiming sales could have been overstated by as much as 20 percent.

Well get ready for this to get blown over or used to somehow "beat" expectations . . .


5 years of housing sales could be 20% less..... that is a HUGE number!

Italy Bond Yields Hit New Euro Era High in Auction

Italy paid a euro era record yield of 6.47 percent to sell five-year paper at its first auction of longer-term debt after the EU moved towards greater fiscal integration at last week's summit, but failed to convince markets it can solve the debt crisis.

The average yield at Wednesday's sale compares with an auction rate of 6.29 percent Italy paid a month ago, which was also a euro lifetime record high.

Rome sold 3 billion euros of the Sept. 2016 BTP bond, the top of an unusually small range of 2 billion to 3 billion euros for the sale.

Italy has trimmed the size of its auctions in reaction to market pressure but it will have to step up issuance in coming months if it is to meet a gross funding goal of around 440 billion euros next year.

reply to post by MasterGemini


They didn't not made an error, they knew exactly what they were doing, they are nothing but crocks, they did it to avoid devaluation of properties.

America the land of the most crocked capitalist in the world.

Originally posted by marg6043
reply to post by MasterGemini

 

They didn't not made an error, they knew exactly what they were doing, they are nothing but crocks, they did it to avoid devaluation of properties.

America the land of the most crocked capitalist in the world.

The whole system is based on lying like a rug to further your own interests, no matter how ludicrous the lie!

You really need not look any further than the employment numbers to see how they'll twist a turd into whatever they want it to be, using whatever excuse they want to achieve the desired result which is usually to line the pockets of whomever paid them the most to lie like rugs in the first place.

Now, with the whole housing thing, I'm wondering if there will be any legal action (civil or criminal) as there's going to be a whack of people who probably overpaid for their houses by reason of fraud . . . in this case, the over-reporting of sales figures. If the supply is deemed 'short', that means prices go up . . . if prices go up, so does the amount that needs to be borrowed to buy the house. So, apart from the real estate industry getting bigger commissions on sales, mortgage lenders made a whole whack more based on interest on money borrowed for over-priced homes.

Here's another question . . . housing sales have to be based on houses available . . . correct . . .

If that's the case, to inflate sales numbers, they'd have to fudge the available for sale numbers to make it work, or somehow make a whole lot of houses disappear in order for any audit of the system to come out successful.

There are so many legal corners they cut to make this work, it is not funny. And, how deep does this lie go . . . who's in on it . . . and there's no way in hell anyone will ever be able to convince me that the fudging of the figures started at the real estate industry level, rather . . . . we're back to the good old geedy bastard banksters who engineered this whole damn mess.

Think they'll ever be taken to task for their fraudulent behavior?

Me neither.

reply to post by GoalPoster


I think the demand was artificially high. At this point i believe, like they mentioned, the price will stick. Until they realise they built too many (cheap/butched) new houses. We are starting to see this patern in eastern canada.
Its hard to wrap our head around it because realtors uses so many racquets in between agencies.
Its a wonder-crooked world after all but right now my head is spinning,

I have never seen this before (about the big picture) and the worst thing in all this is nobody want to listen.
Lie to me baby, "we" are the despot in this story.

Gold is down 5%.
God is a little less yellowish today

And with this "2012 National Defense Authorization Act" people will now be cheaper than soap.

Good luck.

reply to post by DangerDeath


i would not think that the EURO=Dollar parity was going to be realized before Feb 2012...


but it appears that both the EURO & the USD will be able to buy Gold at 1440.00 in either the Euro € or USD $
more than likely before year end...

see the johngalt link concerning the moving averages of Gold as of late
johngaltfla.com...



i just ventured the outlook yesterday that gold will lose its high price even as the € and $ become Equals in the rate of exchange/value...but more likely in the new year...


glad i will keep buying more gold shares even as the price of gold retreats to $1440.00 = €1440.00
(recall that the elites & NWO masters favor the 'symbolic' numbers...& 144,000 translates to 1,440.00...eh?! )



snip from the johngalt link (above):

Fast forward to the action yesterday where gold finally, after one full year, broke the 150 DMA on a closing basis. This puts the 200 DMA in play before year end and indicates not a failure in gold as a safety play, but in fact that once again the world’s central banks are unable to cope with a coming financial crisis which in fact will be worse than the 2007-2009 time period. The financial equities, bond markets, and gold are all indicating another short term deflationary episode is about to impact world economies, this time originating in China and Europe. The resulting break in gold prices should provide a correction to first $1480 as initial support and if there is a 30-35% correction the $1280 price area:

a little more volitile than my idea... but it is where the price finally gets 'settled' on the official record ...so as to stableize the market and give some foundation to the sovereign debt/deficit spending bailouts

I think some of us know what may be coming next,if the trashing of Gold and Silver (and the Euro) the last 2 Days is any Indication.

First,this:

Greek Bankruptcy Imminent?

Big Oops out of Bloomberg:

- GREEK CREDITOR COMMITTEE SAID TO BE NEAR HIRING BLACKSTONE
- GREEK CREDITORS SAID TO WORK WITH WHITE & CASE, ALLEN & OVERY
- GREEK CREDITOR COMMITTEE MAY FORMALLY HIRE BLACKSTONE THIS WEEK

Is that how it begins - with an involuntary filing of bankruptcy by an ad hoc committee of creditors?

And there are unconfirmed Rumours/Articles that the German Finance-Minister hired the "Boston Consulting Group" for a coming Haircut during/after a Currency Reform or whatever else they need someone like that...


And the next would explain with what is going on in the Markets the last few Days:

Euro Jumps As S&P Leaks It Has Not Leaked An Imminent French Downgrade

With speculation building up all morning that the French AAA rating will be momentarily gone, following a statement by France's Juppe that the loss of AAA would not be "cataclysmic", it was up to the S&P itself to leak the rumor which unleaked the previous rumor, and told the WSJ that it has not informed the French government of its rating intentions. The result: EURUSD soars by 40 pips on this absolute non-news, which does nothing but buy at best a 24 hours respite from the inevitable. Furthermore, the S&P has no statement at all if and how many Congressmen, and Nancy Pelosi of course, do know what S&P's intentions are and are already trading appropriately. We expect this momentary bump in risk to be unwound in seconds.

We know it is coming,we know it is invetiable,and,as i said above,the trashing of Gold,Silver,the Euro (and probably other commodities) is a sure sign that something big is coming.

Stay tuned...

The realtor reports are quite troubling. I am not that dumb to believe all that has been is reported in the past was the gospel. The article that came out today is scary because it could be worse than 20% but will we ever truly know the truth? With every week it is a new revelation, a new deception that comes to light. I don’t have the energy to be outraged anymore; I truly think I am becoming immune to this meltdown.

I am quite interested in what is going on with gold. I need to go research because that is a strong indicator.

Fitch Downgrades Five European Banks

Fitch Ratings downgraded its credit ratings on five major European commercial banks and banking groups Wednesday as part of a broader review of its ratings on the largest banks in the world.

In a press release, the rating firm said it downgraded Banque Federative du Credit Mutuel, Credit Agricole, Danske Bank, OP Pohjola Group and Rabobank Group.

The firm said the downgrades reflect the "broader phenomenon of stronger headwinds facing the banking industry as a whole. Exposure to troubled euro zone countries through their subsidiaries was a direct consideration in the downgrades of Danske Bank and Credit Agricole."

For the other banks, Fitch said the crisis had "negative indirect consequences."

Capital markets, "in particular interbank markets, are not functioning effectively, and, along with more global factors, the crisis is driving economic slowdown," according to Fitch.

reply to post by AuntB


Gold is real Money. Unlike Bonds and other Promises of Value printed on Paper,physical Gold always had and always will have some sort of Value,especially as some sort of Money,as does Silver.

Now why is Gold and Silver beeing trashed so much the last few Days? The answer is pretty simple: To stop investors going into Gold.


What do you think would happen if France gets downgraded tomorrow? Investors woull sell everything that has `France` written on it.

And after they realize that Europe is pretty much over and done with,since France would be unable to participate in any Euro-Rescue Scheme if they lose their AAA, Germany would be the only one left that would be able to pay (which is impossible by the way).

Investors would flee Europe like never before and try to buy things that has more Value than a fast imploding Europe...which should be Gold and Silver,but since it is beeing keept down,it will be the US who see its Bonds beeing bought in a Frenzy.


That is the only Reason why Gold and Silver is where it is, To keep Investors away from it and direct them elsewhere

But make no Mistake, some (the smarter one anyway) Investors will no doubt go into Gold and Silver. That is another Reason why it is beeing trashed right now,to stop it from going too high and to prevent others (the stupid ones...) to realize what is truly is The only thing with real Value.


The USA may survive a littler longer than Europe,but i doubt they will last long,because after Europe is done,the FED would need to print even faster even more to bail-out every bank they have because of the exposure to European Countrys and Banks.

Cue Hyperinflation and Death of the Dollar.



At least that is what i think is going on. I could be completely wrong and nothing will happen in the next 2 Weeks,but i doubt it to be honest. Too many Signs point torwards something big. I guess we´ll see...

Given what is about to happen, the investors should stop investing in anything. Because all investments are into the System, and this System has already begun cracking on everyone.

reply to post by DangerDeath


they should start investing in food, and whatever else they would normally buy...
ya know buy today, what you would be buying tomorrow, because welll, tomorrow, you might be paying twice as much!!!

of course, the rich bankers might want to invest in a security team to keep them and their money safe!!!

Originally posted by dawnstar
reply to post by DangerDeath

 

they should start investing in food, and whatever else they would normally buy...
ya know buy today, what you would be buying tomorrow, because welll, tomorrow, you might be paying twice as much!!!

of course, the rich bankers might want to invest in a security team to keep them and their money safe!!!

Very much about that! The more money you have the more army you need to keep it safe. It's an endless circle and that's exactly what is depleting everyone else. Look at the military budget they just approved, as if there is no tomorrow! Obviously they believe it's war time.

www.boston.com...

Census shows 1 in 2 people are poor or low-income

Interesting. How does this fit into 8,6% unemployment? Being employed doesn't mean much these days.

Squeezed by rising living costs, a record number of Americans -- nearly 1 in 2 -- have fallen into poverty or are scraping by on earnings that classify them as low income.

"Safety net programs such as food stamps and tax credits kept poverty from rising even higher in 2010, but for many low-income families with work-related and medical expenses, they are considered too `rich' to qualify," said Sheldon Danziger, a University of Michigan public policy professor who specializes in poverty.

"The reality is that prospects for the poor and the near poor are dismal," he said. "If Congress and the states make further cuts, we can expect the number of poor and low-income families to rise for the next several years."

I'm guessing it is that time of year when people could use some presents for their kids, my advice would be to pop over to France as their seems to be an excess of toys laying around given the number that have been thrown out of prams of late.

First Frances central bank governor Christian Noyer, threw his toys..

France stokes eurozone row with call for UK credit downgrade
www.guardian.co.uk...

then Frances Prime Minister François Fillon had another toy throwing hissy fit.

Fillon Raps Ratings Firms Over U.K.
online.wsj.com...

One can help but wonder what is going on in France at the moment if the Governor of a central bank resorts to such playground mud slinging.

Breaking news on the BBC website ticker:

Barclays, Goldman Sachs and Deutsche Bank are among banks downgraded, according to ratings firm Fitch.

Source

An article should be up within minutes...


(And the BBC's main headline: "IMF: Global outlook is gloomy" (-which actually links to this article) Can you believe that is big news to some people?)


OK, the article is now up. Here it is:

Fitch downgrades six global banks

Fitch has downgraded six of the world's largest banks, citing the challenging financial markets.

The banks include Bank of America and Goldman Sachs in the US, the UK's Barclays and France's BNP Paribas.

Germany's Deutsche Bank and Switzerland's Credit Suisse were also cut.

Fitch cut the "issuer default ratings" at the banks, which "reflect the ability of an entity to meet financial commitments on a timely basis".

Link

It is very likely the article will be expanded over the next half hour or so...

reply to post by pause4thought


All banks that deals on hedge funds should be downgraded, like that people that have been investing with those entities get to see that their money is not safe and never has been.

Hedge funds are the biggest scam that bankers and financial institutions had been able to get away with, pensions, retirement accounts none of that is safe.

Goldman Sach, JP Morgan they are the biggest crocks around, but before JP Morgan goes Goldman Sach will be sacrifice first.

Courtesy of the beatdown in paper futures, I'm already seeing evidence of rising demand at the retail level. Even some of the larger bulk dealers like Tulving are currently sold-out of their more cost effective bullion products - while premiums remain relatively high > an indication of firm retail demand.

And physical buyers of size (volume investors like foreign banking interests, sovereign wealth funds, major hedge funds etc) are being forced to negotiate directly with producers for unrefined mine off-take....

Major buyers having hard time finding physical gold, AngloGold Ashanti chief says

As painful as this temporary market condition is for those that bought high, lower prices spark demand and physical demand is the Achilles Heel of the price suppression scheme. The market is being staged for the next leg-up > just hold your positions & keep the faith.

On the other hand, if you're trading leveraged paper even a 2% pullback can result in a spiritual experience for underfunded speculators.

Remember what happened to this guy's account ?



GL ATS

reply to post by DangerDeath


Can I qualify as being middle class and poor at the same time? The Government seems to think I'm made of money but I have nothing to show for it.