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The big news in the economy last week was new home sales jumped 27% in March. It was the best monthly increase percentage wise since John F. Kennedy was in office. What the mainstream media did not tell you was new housing starts jumped up from a very low level–like the lowest level in history!
(see graph in link)
This is one of the many reasons whyshadowstats.com founder, John Williams, says the economy is “bottom bouncing.” That is exactly what the chart shows. In early 2006, housing starts were more than 2 million–now they are just over a half million. Housing starts are down around 75% from the peak. Does this look like a big turnaround to you? Please do not get fooled into thinking we are on the brink of a real recovery. Williams says, “The U.S. economy remains in an economic depression, which is about to intensify anew. . .”
On the inflation front, the Producer Price Index was also out last week. The increase was dramatic.