CLICK ON CHART TO ENLARGE
Sometimes it pays to get lucky! Was the car lucky in the above photo? When it comes to potential “close calls” the price action on a weekly basis in the S&P 500 ETF (SPY) might not get any closer!
The “weekly” closing high last week was within 50 cents of the weekly closing high back in 2007! Odds are low that this unique will stay, yet if it does….the prices couldn’t have been much tighter and an important high.
Will it be different this time….Stay tuned, it won’t take long to see if this pattern breaks!
A New And Different Housing Bubble Is Taking Shape
It’s getting hotter. In February, compared to prior year, asking prices jumped 14% in Atlanta, 18% in Las Vegas, and 25% Phoenix. Seen from another point of view: in January, the median price of a single-family home in Phoenix skyrocketed 35%.
“We recognized that prices were moving faster than people expected,” explained Devin Peterson, a Blackstone real estate associate, to Bloomberg. Despite that, they’re still “finding opportunities to buy.” They might not be able to rent them out very quickly, but they’d rather not be “missing out on a few points in home price appreciation.” The race to buy is on. The next housing bubble is inflating.
Read more: http://www.testosteronepit.com/home/2013/3/18/housing-bubble-ii-but-this-time-its-different.html#ixzz2O36JTwKP
DOD furlough 2013: Department to start sending notices Thursday
Defense Department employees can expect furlough notices as soon as Thursday and then will have a seven-day window in which to appeal their place on the furlough rolls, the Pentagon said Monday.
Acting in response to the across-the-board budget restrictions imposed by March 1’s sequestration, the department must send its first notices, telling workers that they could be furloughed, from March 21 to 25; employees will have from March 28 to April 1 to appeal whether they should be furloughed; and the first official furlough notices will go out March 29, according to an announcement.
Jim Rogers: Major Crash Ahead For U.S. Investors…”The resulting chaos is going to crush Americans.”
Despite the current stock market rally, legendary investor Jim Rogers say the U.S economy is poised for a major crash and is warning investors to protect themselves immediately.
In a riveting interview on Fox Business, Rogers warned Americans not to trust any of the positive economic news coming from world governments.
“I don’t trust the data from any government, including the U.S., Rogers said. “We know that governments lie to us. Everybody’s printing money, but it cannot go on. This is all artificial.”
Rogers, who for years has been an outspoken critic of the Feds policies of “Quantitative Easing” says all the money printing is creating false hope that we are in the middle of some kind of super bull market.
But in reality, he says, “we’re living in a fool’s paradise.”
“The Bank of Japan says it’s going to print unlimited amounts of money… Then Mr. Bernanke said I’ll match that… I’ll print that money too. The Europeans are catching on. You’ve got money printing going on everywhere and that has never been good for anybody,” Rogers said.