Thursday, August 20, 2009

What the news don’t tell you - US

In California the number of homeowners who are either behind on their payments or in foreclosure rose to more than 13%, a new record. The delinquency rate, which includes loans that are at least one payment past due but does not include homes in foreclosure, is the highest in records since measurements started in 1972.

The problem was worst in Florida, where almost 23% of mortgages were delinquent or in foreclosure at the end of the June. The next highest states were Nevada at 21.3%, Arizona at 16.3% and Michigan at 15.3%.

A normal number a normal year is around 4-6%

January 21, 1930
"Definite signs that business and industry have turned the corner from the temporary period of emergency that followed deflation of the speculative market were seen today by President Hoover. The President said the reports to the Cabinet showed the tide of employment had changed in the right direction." - News dispatch from Washington.

The number of Americans filing first-time claims for unemployment benefits rose unexpectedly for the second straight week to 576,000 last week. Wall Street economists expected a drop to 550,000. No way!? Cornflake economists got it wrong? How can it be?

The total number of jobless benefit recipients was 9.18 million

In the meanwhile the American treasury’s debt-auctions is now approaching 40% of GDP annually which is the number they need to keep just in order to sustain the current levels of banking frauds and economic insanity.

March 8, 1930
"President Hoover predicted today that the worst effect of the crash upon unemployment will have been passed during the next sixty days." - Washington Dispatch.

The American stock market's index that has gone upwards lately have been marked overvalued by 20-30% by several independent analysts. And the latest jump upwards was, also according to the mainstream economic analysts, marked as bets into future markets i.e. someone(s) is gambling that the actual value is going up.

May 1, 1930
"While the crash only took place six months ago, I am convinced we have now passed the worst and with continued unity of effort we shall rapidly recover. There is one certainty of the future of a people of the resources, intelligence and character of the people of the United States - that is, prosperity." - President Hoover

Some media has picked up this story:
US Commercial Real Estate Collaspe

October 16, 1930
"Looking to the future I see in the further acceleration of science continuous jobs for our workers. Science will cure unemployment." - Charles M. Schwab.

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