Case/Shiller Index reports a decline in 20 cities of housing prices AGAIN.
Expect this horrible news to go unnoticed by the rigged stock market, especially considering Bernanke talking about committment to price stability in his acceptance speech.
DEFLATION people, we have to have it to go forward and for someone who has contributed to the price bubbles of housing and commodities, this is reckless disregard for our future. But what do they care? They are no different than the mortgage brokers and bankers who took their bonus' and laughed all the way to the bank, "why should we care, by the time they figure it all out, we'll be long gone."
The fall has a parachute until the chute stops opening after taking on so many holes! Banks are like the welfare system that all conservatives love to hate: throw money at the problem instead of rebuilding or changing the structure. Nothing will change here. Once just needs to look at the lobbying efforts of the banking system against any real reform.
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