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The Economic Wall Straight Ahead Is Hidden Behind False Signs Of “Recovery”


This morning I had left the TV mistakenly tuned to CNBC with the sound on—-and unavoidably caught another bullish strategist jawing about the US economy’s awesome strength. This one was peddling as exhibit #1 the recent surge in C&I loans, arguing that it is a sure sign that business is gearing up for a post-winter boom. It turns out that the $1.8 trillion of C&I…

Mortgage Purchase Applications Rise


Things are getting better in the residential mortgage market at least compared to last year, one of the worst ever. Mortgage applications increased 4.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 27, 2015. The unadjusted Purchase Index was 7.6 […]