Housing Starts in U.S. Surged in September to Four-Year High

Economic signs are improving!

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New-home construction in the U.S. surged in September to the highest level in four years, a sign the industry is on the road to recovery.

Starts jumped 15 percent to an 872,000 annual rate last month, the most since July 2008 and exceeding all forecasts in a Bloomberg survey of economists, Commerce Department figures showed today in Washington. The median estimate of 81 economists surveyed by Bloomberg called for 770,000. An increase in building permits may mean the gains will be sustained.

A pickup in sales stoked by record-low mortgage rates and population growth combined with dwindling supply indicates construction can continue strengthening, contributing more to economic growth. At the same time, the level of starts remains below the pre-recession peak, limiting how much the industry can boost the rate of expansion.

“The housing market certainly has turned,” said Brian Jones, a senior U.S. economist at Societe Generale in New York, whose forecast for 790,000 starts was among the highest. “But we still have a long way to go. The good thing is that construction will pull employment with it.”

Stock-index futures extended

Federal Inspector General Investigation proves Ron Paul’s claims “Bizarre”

{Updated annotation 05 April 2012: There is a cost to the “bizarre” accusations made by Rep. Dr. Ron Paul, MD (R-TX) during that Congressional hearing. As a direct result of his accusations, a 16-month long Inspector General investigation was conducted, which undoubtedly cost “we the people,” aka taxpayers, several millions of dollars.}

It’s one thing to say “the moon is made of green cheese.”

It’s an entirely different matter to say it and truly believe it.

In this case, Rep. Dr. Ron Paul, MD (R-TX), believes it.

God help him.

God help us all when kooks like him get elected to any public office.

I rather think this solitary example is proof positive that Rep. Dr. Ron Paul is unfit for office.

Following are various news items referencing the recently released findings.

Along with the news items about the findings is a link to Rep. Dr. Ron Paul’s, MD (R-TX) column hosted on the LewRockwell.com website. Lew Rockwell is another prime example of a kook, who, like Rep. Dr. Ron Paul (R-TX) subscribes to the theories of the “Austrian School of Economics” which – though it’s Mises Institute is headquartered in Auburn, Alabama – has no ties with the city or university located in that town.

{Note to the reader: Throughout this entry, there are numerous links to references and resources about the highlighted items. None of the links are advertising, and most all links refer to entries on Wikipedia, while some refer to original or referenced resources.}

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Excerpted from Marketplace, Morning Report, Wednesday, 04 April 2012 – “Fed money played no role in Watergate.“

Marketplace’s David Gura is here live from Washington to tell us about something a little juicier. Morning David.

David Gura: Morning Jeremy.

Hobson: So this item, I gather, comes from the Fed’s inspector general?

Gura: That’s right; so we’re learnign about the Fed’s history. First, we learned that the Federal Reserve was not involved in the Watergate burglary back in 1972; the cash used in the scandal did not come through the Federal Reserve. And second, there is no evidence the Fed helped Saddam Hussein, helped Iraq, get billions of dollars to buy weapons in the 80s.

Hobson: OK, all good to know — but why was the inspector general looking into this?

Gura: So, back in February of 2010, Ben Bernanke was testifying before the House Financial Services Committee. And Republican Congressman Ron Paul — one of the Fed’s biggest critics — made these two claims, about the Fed and Watergate, and about the Fed supposedly loaning money to Saddam Hussein.

And this is was Ben Bernanke’s reply, at the hearing back then:

Ben Stein pwns Rick Perry

Hell… the whole damn Republican party has been hijacked by loudmouthed, harebrained, dim-witted “TEA Party” kneejerk political reactionary johnny-come-latelies. Where are the centrists and calm voices? Where are the diligent workers, the voices of rational reason? Where are the visionaries, the dreamers? Have we elected manic-depressive political schizophrenics?

Ben Stein offers Rick Perry an economics lesson
August 21, 2011

The Texas Governor and just-announced GOP presidential candidate Rick Perry took on the Federal Reserve this past week. To our Ben Stein it doesn’t add up:

I was going to leave you alone for this month and just spend it on my boat up at Lake Pendoreille in North Idaho, a mountain lake where ospreys soar and where I feel at peace.

But Governor Rick Perry of Texas – possibly the nation’s next President – has shocked me out of my reverie.

A few days ago, Governor Perry said in campaigning in Iowa that

Wal-Mart CEO warns of inflation

This article first mentions ‘Wally World’ CEO, but should more appropriately headlined about the Federal Reserve policy. However, the headline would not be ‘sensationalistic’ enough to arouse reader curiosity, hence use of the WMT headline.

As a corollary, why should Wal-Mart be allowed to “outsource” almost all their products, to the extent that they are effectively a Chinese company, and then warn America that inflation is impending? Wal-Mart is a traitor company, which also mistreats their workers, hires illegal aliens, and discriminates against women. (That is to say, they’ve been convicted of, or plead to such cases.) It’s NOT the “American Way”!

Wal-Mart CEO: ‘Serious, Rapid’ Inflation Will Send Prices Soaring
Thursday, 31 March 2011, 12:34:24

The one retailer prepared to cut costs to the bone to save money for consumers now warns that prices will rise very soon — no matter what. Retailers have generally managed to hold prices low despite rising raw materials costs. They had little choice: High U.S. unemployment and lack of credit has kept people out of stores. That’s over, says Wal-Mart CEO Bill Simon. Prices will now

How to fix this ROTTEN economy

Here are a few “quick” points, and anecdotal observations, followed by solutions.

According to published reports, unemployment has ranged, on national average, between 9-12%. However, some suggest that the real unemployment rate may be much higher, in some cases, up to twice – or more – of the reported figure. Adding strength to that argument is the fact that 1.) the government reports