Monday, May 18, 2009

Chart of the Week: Smoking the "Green Shoots"

[source: marketoracle.co.uk/Article10667.html]

Americans are marching to the unemployment offices in record numbers for the fifteenth week in a row.  Job loss results in a foreclosure 15% of the time.  The April figures for home foreclosures set a record for the second straight month. The median price for homes fell 14%, the biggest decline ever. Production capacity utilization is down 69.3%, the lowest since records began in 1967.  Somebody ought  to tell the chart crazed denizens of the Street of Broken Dreams to stop smoking the "green shoots".  A sign of the times in Stumptown:  "Share the well."