Tag: all-time low

WTF CHART OF THE DAY

This chart blows my mind. How can 91% of all 16 to 19 year olds in the country not be working this summer? If the economy is in its sixth year of recovery and the unemployment rate is really 5.3%, why is the percentage of teenagers working at an all-time low? I was 16 in 1979. I worked every year from the time I was 16. My oldest son worked at a golf course at 16. My middle son started working at Dunkin Donuts at 16 until leaving for college last week and working as an RA. My youngest son just turned 16 and immediately got a waiter job at a local retirement home.

I see help wanted signs at fast food joints, restaurants and retail stores in malls. If a teenager wants a job they can get a job.

So why aren’t teenagers working? Are they lazy? Are their parents too easy on them? WTF is wrong with this country?


WHAT IF THEY GAVE A HOUSING RECOVERY AND NO ONE CAME?

Inquiring minds want to know how you can have a housing recovery when mortgage originations are at all-time lows. The bright bulbs on CNBC certainly aren’t inquiring. The Ivy League economists at the Fed aren’t inquiring. Wall Street is making bucket loads of dough with their buy to rent scam, so they aren’t inquiring. If it seems too good to be true, it’s too good to be true. There is no housing recovery. There has been a price recovery engineered by the Fed and their Wall Street owners. It benefited them and them only. The stock market isn’t the only rigged market.

Mortgage Originations Plunge To Lowest On Record

Tyler Durden's picture

Submitted by Tyler Durden on 04/07/2014 10:45 -0400

New mortgage originations fell over 23% month-over-month and a stunning 47% year-to-date according to Black Knight (formerly LPS). As they show in their detailed presentation, with a 65% year-over-year drop, new mortgage originations are at their lowest since their records began and what is perhaps more concerning is prepayment speeds signal further declines are ahead and the ratio of serious deterioration to foreclosure (along with huge numbers of loan mods due to reset) suggest the housing market is anything but recovering fundamentally with the average loan in foreclosure now 2.6 years past due.

 

 

But apart from that – prices are up so that must be good right? as affordability for the average joe collapses.