‘Sorry, There’s Nothing More We Can Do…’
The Prism Daily
From David Taylor and Gordon Philips, the Forex Brothers. Your ‘One-A-Day’ financial news-tritional supplement, including trace elements of economic analysis that every healthy investor needs. Addresses a wide variety of monetary afflictions, from vacillation to impecunity. Specially formulated to go down easy! WARNING: Side effects may include elevated cognition and bouts of epiphany. If symptoms persist, unplug cable TV.
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Today’s Market MRI: Ranieri Says Housing Market In U.S. Is Reaching Bottom
Bloomberg Reports: “The U.S. housing market is reaching a bottom, according to Lewis Ranieri, the mortgage-bond pioneer… ‘many, myself included, think we are at a bottom’…”
Prism Responds: Then there’s this. “There’s one down month, but I think we’re still in an up trend… Housing has clearly bottomed‘…” So we’re at the housing bottom, are we? Maybe not…
No Housing Recovery In These Three Charts
ZeroHedge Reports: “One day, we hope, the broader public will realize that… any data coming out of the National Association of Realtors – an organization that by definition benefits from high prices and frenzied real estate activity – is total manipulated garbage… the last word one should use when discussing the US housing market, where as we already pointed out shadow inventory is once again building up while construction jobs have tumbled to decade lows, is ‘bottomed’…”
Ed Steer’s Gold & Silver Daily
Casey Research Reports: “Here’s an e-mail that I received from reader Eddie Costik yesterday…and it’s pretty much self-explanatory… ‘I have news for you….the home industry in the U.S. is finished as we know it. Retail sales for home improvement were down 1.6% for the month of June. I’m still in touch with wholesale distributors of building materials…nobody in that industry is making any money. My small retail lumber company is only one of five remaining in a five county area of Central Pennsylvania. Everyone is struggling. The halcyon days from the past are over. Mortgage rates are at all time lows but very few can qualify because of stringent qualification requirements. There are so many foreclosures that banks are holding them off the market so they don’t have to write them down. If Obama gets his way…. eliminating the Bush tax cuts we’re headed for an economic abyss. Then again how much worse can it get? A lot. Hold onto your behind this is not going to end well.’
Prism Returns: We’ll let you decide when the real estate roses will be blooming again, Dear Reader. As for us, we’re still looking for the basement.
‘Sorry, There’s Nothing More We Can Do…’
It’s a dark and stormy night as the wind howls and the shutters rattle. A comatose patient lies on a bare, metal gurney in the center of a darkened and dimly lit room. Flickering lights from the rain-streaked window reveal silent, grim-faced experts standing around the body, clipboards in hand. On one chart is a cryptic note circled in red: ‘CTD’. The patient is circling the drain. All medical options have been exhausted. Nothing more can be done now.
Suddenly, as a bolt of lightning sears the sky and a deafening thunderclap shakes the room, the patient sits straight up, rises from the table, smiles and walks out the door. It’s a miracle… alert the media!
If only this kind of Frankensteinian recovery were possible for your portfolio, Dear Reader. But things like this only happen in Mel Brooks movies. Given the moribund state of the economy, we fear that today’s grim-faced financial experts will soon be tomorrow’s economic undertakers.
We say: Don’t go into that dark night without a fight. Rise to the occasion and avoid the coming horror show. Vote for mathematics! Vote for science! Vote for wealth! Sign up for our Prism Presidential Package and you too could experience the 4-year administration of steady growth for your money, even as your neighbors are burning their 401k statements to stay warm. Just a $2,500 minimum account to get started and your first billing period is FREE!
And May All Your Investments Be Profitable,
‘Better Investing Through Science’
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