Reuters reports today that pending sales of existing U.S. homes dropped far more than expected in April to touch a seven-month low, a trade group said on Friday, dealing a blow to hopes of a recovery in the housing market.
The
National Association of Realtors Pending Home Sales Index dropped 11.6 percent to 81.9 in April, the lowest since September. Pending
home sales lead existing home sales by a month or two. Economists polled by Reuters had expected pending home sales to fall 1.0 percent.
At the same time, Money Magazine reports in this month's issue, that for the long term unemployed, things are still quite grim. Here is a summary of their findings:
% OF UNEMPLOYED WHO HAVE BEEN OUT OF WORK 27 OR MORE WEEKS
2008 16.9%
2009 24.4%
2010 43.9%
2011 45.5%
So my questions are:
WHY HAS THE UNEMPLOYMENT RATE JUMPED TO 9.1%?
WHY ARE THERE 14 MILLION UNEMPLOYED WORKERS ON THE WELFARE ROLLS?
WHAT THE HELL ARE YOU TALKING ABOUT WHENEVER YOU SAY THE ECONOMY IS IMPROVING?
EXPLAIN YOUR BULLSH*T ABOUT HOW THE $850 BILLION STIMULUS BILL WOULD KICK-START THE ECONOMY?
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