Bidenomics 101 (Housing): US Pending Home Sales Decline -14% Year-over-Year As M2 Money Growth Worst Since 1933 And The Great Depression (Reverend Joe?)

#bubble, #inflation, #wine, @MetreSteven @JeffSnider_AIP @DiMartinoBooth @bondstrategist @RaoulGMI @LukeGromen @dlacalle_IA @EconguyRosie @profplum99 @SantiagoAuFund @biancoresearch @pboockvar @SriKGlobal, Agency MBS, CMBS, CRE, ECB, Economy, Existing Home Sales, fannie mae, Fed, Freddie Mac, GDP, Housing, Inflation, Mortgage, New Home Sales, Powell, REITs, Silver, SPX, Stocks, Treasuries, Treasury, Wages, Yellen, Yield Curve 1 Minute

Another economic report on Bidenomics. This one is for housing.

Realtors Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – rose 0.9% to 77.6 in July. Year over year, pending transactions fell by 14.0%. An index of 100 is equal to the level of contract activity in 2001.

Combine that with crashing M2 Money growth (lowest since 1933 and The Great Depression (and The Dust Bowl). The difference is that the US had the soothing talks of Franklin Roosevelt “I can assure you that it is safer to keep your money in a reopened bank than under the mattress.”
—President Franklin Roosevelt in his first Fireside Chat, March 12, 1933. Unfortunately, we have Joe Biden, the WORST public speaker in history and a completely unempathetic person.

Delinquencies on auto loans, credit cards and consumer loans are at their highest levels in a decade.

Instead of Sleepy Joe, Middle Class Joe, Corrupt Joe (sounds like Cuppa Joe), and any of the multitude of unflattering nicknames, we now have REVEREND JOE.

Published by confoundedinterest17

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2 thoughts on “Bidenomics 101 (Housing): US Pending Home Sales Decline -14% Year-over-Year As M2 Money Growth Worst Since 1933 And The Great Depression (Reverend Joe?)”

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