Today's Economic Docket: Deteriorating Case-Shiller, Confidence And Richmond Fed, $35 Billion In 2 Year Bonds

Tyler Durden's picture

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gabeh73's picture

I just listened to a Richmond Fed Lackner speech/podcast. At the Q&A at the end he says he "doesn't think it is likely at all that the US Dollar would lose reserve currency status, but if we did then we could get by fine"

 

The guy is a joke... makes Alex Jones seem less outrageous.

Go listen to a IMF podcast(free) on the importance of figuring out how to get more taxes out of the african people to increase the revenue going to corrupt governments. This makes Alex Jones look pretty damn good for a radio talk show host.

Cdad's picture

Modest POMO closing at 11am will do little to offset the $35 billion in 2 Year notes to be auctioned off at 1 pm.

Sweet.  I wish the government could come up with a method of even more quickly accumulating debt.  I wish they could monetize a trillion dollars in debt per POMO...on the way to a kajillion.  I wish we could have debt auctions equivalent to three times the GDP of the globe...plus the moon and mars.  I wish they would just raise the debt ceiling to infinity, and then have an auction of infinity 30 year notes.

SheepDog-One's picture

Right, why go with little bits and pieces nonsense when the clowngress can simply raise the debt ceiling to $5 quadrillion, and the FED can go monetize $10 trillion per day....hey if its all good then its ALL GOOD!

topcallingtroll's picture

Is that the deflation monster i am hearing off in the distance?

SheepDog-One's picture

Yes deflation in what you own dollars and homes, severe inflation in everything else you need to buy daily.

Boilermaker's picture

Today's Economic Docket:  Rising Equities and Soaring REITS on Pathetic Volume

SheepDog-One's picture

Remember Zimbabwe's stock market would go up 100% gains day after day. 

Johnny Lawrence's picture

I'm in the deflationary collapse camp, but if the market was going up 100% everyday, somehow I think Americans would think that all is well.

Boilermaker's picture

Most people don't even know what their 401(k) accounts even represent.  They only know the balance of the account.  If it goes up, then the world is full of gum drops and rainbows.  Yes, they are that stupid.

Silverhog's picture

I wonder what the Consumer Confidence number would be if Food Stamps were cut back?

NotApplicable's picture

Oh, but they are!
One price increase at a time.

SheepDog-One's picture

50 million or so 'american consumers' suddenly cut off from food stamps and govt pay for being unemployed, probably muddy the consumer confidence numbers a bit, just guessing.

Johnny Lawrence's picture

Today's Economic Docket: Does it even matter?

Caviar Emptor's picture

Yup. Housing in a tailspin as expected in all metro areas except DC (where politicos use free Fed cash to bid on their own houses)

I Got Worms's picture

I live in Austin. Sold my home of 7.5 years in January, and got asking price in a week (suckers). Put all proceeds into gold and silver, rent a home now, and have been very happy with it all. Friends keep telling me what a mistake it was, that the Austin market is "different." I'm happy with my decision, no regrets at all (other than missing my neighbors). I am a little surprised to see that the housing market continues to be quite stable, and see new home construction all over the place. So is Austin truly "different," or just on a different timetable than the rest of the country?

Youri Carma's picture

US home prices fall for 8th month in Feb – S&P/Case, 26 April 2011, (Reuters) http://www.reuters.com/article/2011/04/26/usa-economy-homes-index-idUSN2626130620110426

Excerpt:

Average home prices across the United States are back to levels where they were in the summer of 2003.

“There is very little, if any, good news about housing. Prices continue to weaken, trends in sales and construction are disappointing,” David Blitzer, chairman of the Index Committee at S&P Indices, said in a statement.

The glut of houses up for sale has kept prices low and the market has struggled to regain traction since a home buyer tax credit expired last spring.