SORRY OBAMA, THE ECONOMY IS NOT IMPROVING

HOUSING SUCKS AND IS GETTING WORSE:

The S&P/Case-Shiller index of property values in 20 cities fell 4 percent from a year earlier, after decreasing 3.9 percent in November, a report from the group showed today in New York.

... Home prices in 20 U.S. cities dropped more than forecast in December to the lowest level since the housing crisis began in mid-2006, indicating foreclosures are hampering the industry’s recovery. The S&P/Case-Shiller index of property values in 20 cities fell 4 percent from a year earlier, after decreasing 3.9 percent in November, a report from the group showed today in New York.  

Distressed properties returning to the market mean prices will stay depressed, prompting buyers to wait for cheaper bargains and impeding construction.  

While sales have begun to stabilize, a rebound in home values may take time, underscoring Federal Reserve policy makers’ concern that weakness in housing is blunting their efforts to spur the economic expansion. 

“We’re still dealing with a lot of distressed properties and very low absolute levels of demand,” said Sean Incremona, a senior economist at 4Cast Inc. in New York, who accurately projected the 4 percent drop. “We’re not seeing any of the stabilization in housing activity filter through to prices.” 

A separate report today from the Commerce Department showed orders for U.S. durable goods fell in January by the most in three years, led by a slowdown in demand for commercial aircraft and business equipment. 

.. Bookings for goods meant to last at least three years slumped 4 percent, more than forecast, after a revised 3.2 percent gain the prior month. Economists projected a 1 percent decline, according to the median forecast in a Bloomberg News survey.

AND THIS - BE SURE TO CLICK HERE AND RTWT:

Ben Bernanke struck a downbeat tone on the health of the US economy - in spite of an upward revision of growth in the fourth quarter of 2011 - leaving it unclear whether the Federal Reserve would further ease monetary policy. 

In testimony to Congress on Wednesday, the Fed chairman said that the labour market was doing better, but the fundamentals supporting consumer spending “continue to be weak”.

WE NEED DIFFERENT POLICES IN DC.

WE NEED TO END TO HALT THE FREE LUNCH POLICIES OF THE LEFT AND RESTORE THE FREE MARKET ECONOMY:

VOTE ACCORDINGLY!