William K. Black interview

William K. Black does not pull punches. Interview starts at 13:00.

Recovery? Really?

Is this what Tax Cheat Timmy was talking about in his op ed on how the recovery is going just swimmingly?

Investment in malls, office buildings, and hotels continue to crater - some at 20 year lows, and some at all-time lows. I guess that's just one more reason why the stock market continues to rocket upwards. Crazy crazy.

The real GDP chart

The real GDP chart.

Small businesses not too excited about the "recovery"

Reality is very different from the spin machine in DC and the MSM. Small business are not very thrilled with the so-called recovery.

No way to dig out of this hole . . .

Fannie and Freddie are such deep holes that there is no way for the Fed to dig out of this one. Also, GM, owned by tax payers, just bought AmeriCredit which will be the new GMAC (again). Wonderful.

Double Dip is here

Here it comes. Acutally there never really was an end to the recession. Thanks to trillions of dollars spent by the Government to prop things up and pull demand forward some more it only appeared that the recession was ending and there was a recovery. There is no recovery. Period.

ECRI continues to plunge. Someday, maybe, this will affect the stock market. Fundamentals no longer matter. Strange days.

How's the housing deleveraging going? (Not)

One graph tells it all - and why the Fed is so afraid of reality. Reinflating a popped balloon is really difficult.

And this post shows how the US has horribly overbuilt houses over the past 20 years. Housing will crash - it's a matter of when, not if. And it will crash regardless of what the Fed, Congress, and the White House does. Also, with millions of jobs lost (and many will not come back for a long time if ever) there will be even less demand for houses, especially the $500K+ mcmansions.