As a Baby Boomer old habits die hard. I engage in old habits every morning. Coffee, newspaper, and a morning smoke.
But this is 2012 and the morning regimen has expanded to include the internet. Scouring trusted sources for the truth to make sense out of current events to plan my day, and business. That’s followed by posting to and reading posts on Facebook.
Each morning of course is preceded by the previous days absorption of information from talk radio, and news driving between appointments to help home sellers, and buyers. A blessing was delivered last night, escape from reality; opening day of baseball.
Back to reality. From the not so trusted source, the local newspaper, came these words from Cetin Ciner, a professor of finance at the University of North Carolina Wilmington speaking about gold prices falling to a three month low. He likened the surge in gold to dot-com stocks before they collapsed.
Continuing: Gold’s attraction as an asset of refuge during crises seems to have diminished. The economy has picked up, and worst case scenarios in the U.S. and Europe have faded.
Wow. Are happy days are here again, or is this another attempt for liberal media to frame a false picture to give people false hope? I’ll go with the latter. I may be reporting from fly over country but something tells me things aren’t so rosy.
Onto the internet and a dose from ZeroHedge’s Tyler Durden. Perhaps the Professor of idiotic liberal statements who teaches finance should read; The Second Foreclosure Tsunami is Coming, and It’s About to Kill Any Hopes of “A Housing Bottom”.
Tyler documents millions more foreclosures hitting the market soon will undermine the fading worst case scenario the professor claimed. The professor must have missed that home prices continued to fall according to the Case Shiller report from last week.
Even we fly over dummies know real estate is a supply and demand commodity. Tyler is onto something here, there will be no bottom until the foreclosure, aka: shadow inventory, is absorbed by the market.
On to post Durden’s article to share with my ‘friends’, and up pops a post from a liberal with a big picture of George W. Bush saying: Bush wiped out a $5.6 trillion surplus in two years and the national debt hit $10 trillion on his watch. Remember how right wingers screamed about that? No? That’s because they didn’t.