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Jim Sinclair’s Commentary

As usual, John Williams of ShadowStats.com tells us how it really is.

- U.S. Hyperinflationary Great Depression Moves Ever Closer
- U.S. Government and the Federal Reserve Effectively Have Destroyed  Global Confidence in the U.S. Dollar
- Systemic-Solvency and Economic Crises Have Not Abated
- Precursors to Ultimate Dollar Disaster Are in Place;  2014 Remains the Outside Timing for Same

No. 414:  Hyperinflation Special Report 2012
http://www.shadowstats.com ^[2]

Jim Sinclair’s Commentary

The condition of…

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Jim Sinclair’s Commentary

The huge securitized debt on housing is because the FASB allowed it to be valued by whatever the bank or institution thought it was worth.

For almost all of this crap there simply is no meaningful market. This debt is therefore valued in a free market at or near zero.

They call that a legacy Asset. It is a cute name meaning nothing.

New home sales fall in December
Posted 2012/01/26 at 10:04 am EST

WASHINGTON, Jan. 26, 2012 (Reuters) — New single-family home sales unexpectedly fell in December for the first time in four months and the median home price dropped, dampening some of the hopes the housing sector will boost the economy this year.

The Commerce Department said on Thursday sales decreased 2.2 percent to a seasonally adjusted 307,000-unit annual rate.

Economists polled by Reuters had forecast sales at a 320,000-unit rate. November’s sales pace was revised slightly lower.

The housing market remains constrained by high unemployment, falling prices and an oversupply of unsold homes following a bust that triggered the 2007-09 recession.

Sales fell in two of the country’s four regions, including a 10.1 percent drop in the South, where most new homes were sold.

The median sales price for a new home fell 2.5 percent to $210,300 last month, the biggest drop in four months. Compared to December last year, the median price was down 12.8 percent.

More… ^[4]