Color me unsurprised...

Retail Sales Drop Unexpectedly in April

Well duh!  People are losing their jobs by the millions - doesn't make one want to run-out and buy that Hi-Def Plasma Big Screen.  But this headline does provide us a nice segue to...


April Foreclosures Rise By 32-Percent

Again, duh!  In spite of pouring uncounted gozillions of Obamadollars into the system the fundamental problem - that the value of much of the real estate market is/was grossly inflated and lots and lots of people went into hock for 125% of that inflated value - has not changed one bit.

And all the Pixie Dust and Unicorn Poop that His Won-ness can muster is simply not going to change those fundamentals.  The market will correct, it will suck out-loud for lots and lots of people (including people like my family - who have always treated credit with the responsibility that used to be expected of at-least nominal adults), and the blame will go to...

... wait for it ...

George W Bush, of course.

Posted by: DocJ at 08:17 AM | No Comments | Add Comment
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