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Keyword: housingthefed

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  • Bernanke No Genius; Homes Drop to 1963 Levels

    09/09/2011 7:36:41 AM PDT · by Kaslin · 31 replies
    Townhall.com ^ | September 9, 2011 | Mike Shedlock
    It does not take a genius to understand why consumer spending is weak. 1.      Unemployment rate is 9% 2.      Real wages are falling3.      Income advances go to the wealthy4.      Middle class is shrinking5.      Jobs hard to find6.      Approval ratings of Congress and Obama at record lows 7.      Consumers have high debt ratios8.      Home prices are still falling9.      Homeowners are trapped in their homes, unable to refinance10.  Boomers need to save for retirement However, those simple facts are far too complicated for a PhD like Fed chairman Ben Bernanke to figure out. Please consider Bernanke puzzled by weak consumer spending Federal...