Coffee Talk Shop…

Another fall in January for the US-wide 20-city house price index could be followed by more

US single-family home prices fell for the seventh month in a row in January, new statistics show.

Seasonally adjusted prices fell in 12 of the 20 metropolitan areas tracked by the SP/Case-Shiller index.

In four cities, prices were at their lowest in 11 years, with the overall index down 0.2% in January from the previous month.

The average annual price fall across the 20 cities was 3.1%; only Washington DC saw a meaningful rise in prices.

House prices in the US capital city, which in general has fared better than the rest of the country during recent economic downturn, gained 3.6% over the year.

San Diego was flat at 0.1% above January’s price a year ago.

SP’s David Blitzer said worse declines could lie ahead.

Continue reading the main story

Analysis

Behind the declines, in part, is the continued impact of the implosion of the sub-prime lending market, including high house foreclosure rates.

But there is also a clear lack of confidence on the part of buyers – partly because they can see which way the wind is blowing and they are waiting to see if prices are going to fall again.

And unemployment is still at 8.9%, far too high to convince people that better times are around the corner.

“The housing market recession is not yet over, and none of the statistics are indicating any form of sustained recovery,” he said.

“Keeping with the trends set in late 2010, January brings us weakening home prices with no real hope in sight for the near future.

“At most, we have seen all statistics bounce along their troughs; at worst, the feared double-dip recession may be materializing.”

In Atlanta, Cleveland, Detroit and Las Vegas, average house prices remain below 2000 levels. House prices in Phoenix, in the US state of Arizona, showed the most drastic decline with a 9.1% fall from the previous year.

The index tracks the prices of typical single-family homes in each of the metropolitan areas surveyed.

The declines come as other economic indicators show signs of recovery.

Consumer spending has been rising and manufacturing activity is growing at the fastest rate in seven years.

Terror threats appear to be on the rise as FEMA has rushed a $1 Billion order of dehydrated food in the event of attacks on domestic targets in the US.

This is also coming on the heels of one of the largest terror drills performed by the US Navy on American soil, as Operation Solid Curtain is taking place this week.

In an article Tuesday from the Beaufort Observer, many of the largest suppliers of dehydrated foods in the country are dropping their distributors and customers to dedicate their resources to supplying a billion dollar FEMA request and purchase.

One of the nation’s largest suppliers of dehydrated food has cut loose 99% of their dealers and distributors. And it’s not because of the poor economy. It’s because this particular industry leader can no longer supply their regular distribution channels. Why not? Because they’re using every bit of manufacturing capacity they have to fulfill massive new government contracts. Look, the government has always been a customer of the industry to some extent. But according to our sources, this latest development doesn’t represent simply a change of vendor on the government’s part. It’s a whole new magnitude of business.

And that’s not all. Read More

Coffee Talk!

Real ID/National ID Card

Congressman Ron Paul: “Proponents of the REAL ID Act continue to make the preposterous claim that the bill does not establish a national ID card. This is dangerous and insulting nonsense.”

HR 418- A National ID Bill Masquerading as Immigration Reform by Ron Paul

A National ID Card is right around the corner

Real ID Act spurs real concerns

Alabama a step ahead in national ID debate

National ID Battle Continues

National ID card legislation appears poorly conceived

An Attack on Liberty, 100-0

Real ID = Major Nail In Freedom’s Coffin

Real ID Act Passed – The End Of America

Country moves closer to a national ID card

Senate approves electronic ID card bill

Court fight looms after Real ID passage

Congress passes Gestapo ID legislation

Senate Passes Real ID: National ID Card On Its Way

Papers, Please! Take action against Real ID

Last Chance to Stop National ID

U.S. states may disobey new rules on driver’s licenses

No Real Debate for Real ID

The Real ID card: the machine readable you

Real ID Act is a Trojan horse

National ID cards on the way?

Coffee Talk!

So those ‘wild-eyed, crazed, lunatic, gun-totin’, anti-gubmint, right-wing, survivalists’ who kept yapping mindlessly about black helicopters were…

…right…

Nice try America… but the grand experiment in individual freedom is over. It was dismantled and destroyed by the Pirates of Washington, the Pirates of Wall Street, Corporate America, the military-industrial complex, the war on drugs, the prison-industrial complex, the security-surveillance complex, the International Banksters Cartel, AIPAC, and the UN-NWO…

ps — wait ’til those Gorgon pix of your 15-year-old in the shower show up on the internet… nothing to hide indeed…

http://www.washingtonpost.com/wp-dyn/content/article/2011/01/22/AR2011012204111_3.html?wprss=rss_world&sid=ST2011012204147

All in the name of protection…

Coffee Talk!

Most Americans are too busy or distracted to realize the world economy now sits on an unprecedented abyss. The question is – will the US economy, which dominates all other economies ($14 trillion of the world $61 trillion gross domestic product (GDP)), get back on a growth curve after being derailed by imprudent and outright fraudulent banking, lending and hedging schemes, and after a monumental rescue effort in the form of bailout money to banks and corporations as well as a buyout of real estate assets, now on the public ledger at the Federal Reserve Bank? In other words, did the $700+ billion Troubled Asset Relief Program (TARP) actually work? Maybe not, and you can sense the fear that palpitates through America today as this gargantuan financial failure unfolds.

Very good read but you will not like it. Link below…

Coffee Talk!

• The Depths of Economic Hell (lewrockwell.com)

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Depression is here:

“US Federal Reserve chief Ben Bernanke says the world is suffering from the worst financial crisis since the 1930s.“

Starting to look a lot like depression, that special time of the year. Starting to look a lot like depression so chin up and give a cheer!

Coffee Talk