Summary: Study the correlation between delinquencies and foreclosures. It does not add up. Study the foreclosure trail for indications of real numbers. Delayed foreclosures and significant buying interest should result in a surge in price. Ask yourself why this hasn’t happened (and listen to the answer). Where are the new home buyers coming from? Mars? TV programs indicating a resurgence of “Flip This House’ interest. Shadow inventory lurks just beneath the surface. No activity in reforming the financial system almost guarantees another severe debt crisis. Lessons simply haven’t been learned. Taking debt and spreading it around (ECB trying to save Greece) will not liquidate the debt. It will just place it elsewhere. Are the Germans savvy enough to resist this nonsense? We shall see. The American government simply distributes new debt to the people. It’s like injecting cancer into human cells. It is pernicious in the extreme and ultimately fatal to the system. You will want to hear about the lipstick phenomenon
