March 16, 2011

Obama Economy Breaks New Records — For Housing Industry Lows

Filed under: Economy,Taxes & Government — Tom @ 9:25 am

flatlineCan’t wait to see how the press tries to spin this.

Here are the February housing industry numbers released this morning by the Census Bureau:

The industry continues to contract. Government policies and programs have everything to do with it.

Meanwhile, the administration is focused on shaking down home lenders, and appears to have no interest in undoing its interventionist damage.

Perhaps the rest of the economy is recovering, but in housing, it’s still “Rebound? What Rebound?

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UPDATE, 1:45 p.m.: Cover your ears first. …

… Okay. The warning came because the following graph found at Zero Hedge is screaming “Rebound? What Rebound?” —

HOUST_Max_630_378

IBD: ‘Japan’s Saving Grace Its People’

Filed under: Economy,Positivity,Taxes & Government — Tom @ 8:27 am

Not enough is being written about the admirable conduct of the Japanese people in a time of disaster.

Investors Business Daily did a good job of partially remedying that in a Monday evening editorial:

If there was ever a more unfathomable disaster than Japan’s huge earthquake, horrific tsunami and nuclear meltdown, we have yet to see it. But the courage and dignity of the Japanese people transcended it.

The world watched helplessly as a 9.0 earthquake hammered Japan’s coast, and a tsunami’s massive wall of black sludge spread its fingers across the northeast coast of Japan.

… Despite the magnitude of these catastrophes, the Japanese so far are surmounting it, showing what hope is.

Common wisdom holds that nations that prepare for earthquakes do better than nations that don’t. But Japan doesn’t have merely good earthquake preparation; it has the best in the world.

None of this mattered in a disaster of this magnitude.

… Japan became the second-richest nation in the world despite being endowed with very few resources. This natural disaster is a cruel reminder that, at least in geography and resources, Japan remains poor.

But it’s that very element of this disaster that shows that the most important aspect of the Japanese isn’t their brilliance or their wealth, but their character.

Indeed.

Positivity: The Miraculous Rescue of Hiromitsu Shinkawa

Filed under: Positivity — Tom @ 5:57 am

From Japan:

March 13, 2011 23:51

A rescue team saves a 60-year-old man who survived Japan’s devastating earthquake and tsunami by clinging to his roof.

A Japanese rescue team Sunday managed to save the life of Hiromitsu Shinkawa, a 60-year-old man who survived Japan’s devastating earthquake and tsunami by clinging to the top of his roof.

Shinkawa was found close to 10 miles out at sea.

“I thought today was the last day of my life,” Shinkawa told his rescuers, reported CNN.

He and his wife returned to their home in Minamisoma after the earthquake to collect their belongings but were then hit by the tsunami that slammed the city. He watched his wife be swept out to sea, but he managed to stay alive by grasping to his home. He drifted in the Pacific Ocean for two days.

Rescuers on a Maritime Self-Defense Force destroyer saw him, waving a red flag, and sent a smaller boat to save him.

Shinkawa told workers after his rescue that other boats and helicopters had passed him but had not noticed him among the debris.

He was able to survive on his roof because of the mild weather conditions and calm seas after the tsunami, according to military officials.

Shinkawa’s town, Minamisoma, has been reportedly razed to the ground by the disaster. Parts of the town are now no more than mud and debris. …

Go here for the rest of the story.