Or rather, they continue to not add up. First it was the massive Stimulus money hole, Solyndra, courtesy of Obama paying off his big donors, a recurring theme with him; then it was the bogus Unemployment Numbers pushed by the President and the Democrats; can’t forget about the missing $1.2 Billion Obama’s and Biden’s good buddy, Jon Corzine lost at MF Global; and now, we have two new stories to add to this list.
For some time, we have been hearing about the housing market, and how things were going in that department, critical to our overall health. Well, as it turns out, the National Realtors Association can’t count. They were off, way off, on where the numbers actually are, and their mistake was not a good one as this Chicago Tribune article highlights:
[snip] Far fewer homes have been sold over the past five years than previously estimated, the National Association of Realtors said Tuesday.
NAR said it plans to downwardly revise sales of previously-owned homes going back to 2007 during the release of its next existing home sales report on Dec. 21.
NAR’s existing home sales numbers, released monthly, are a closely followed gauge of the health of the housing market.
While NAR hasn’t revealed exactly how big the revision to home sales will be, the agency’s chief economist Lawrence Yun said the decrease will be “meaningful.“
“For the real estate business, this means the housing market’s downturn was deeper than what was initially thought,“ Yun said.
Yun said the database NAR uses to track existing home sales, the Multiple Listing Service (MLS), has led the real estate agency to over-count existing home sales for several reasons. [snip] (Click here to read the rest.)
Well, crap. That is some pretty sucky news, isn’t it? This had been one of the upward trends lauded of late, and turns out, that was a big bunch of hooey.
And I have to share one more story of Obama helping out his buddies with our money (H/t FlBreeze), as this editorial from Investor.com highlights:
[snip] Now we find the Navy partnering with the Agriculture Department to purchase hundreds of thousands of gallons of alternative biofuel in place of standard JP-5 fuel for Navy aircraft — the biggest federal purchase of biofuel ever.
It’s part of the White House’s “we can’t wait for Congress” strategy as the 2012 election year looms. But JP-5 typically costs less than $4 a gallon. If a family on a budget started filling up with $16-a-gallon gas, it might want to adopt the motto, “we can’t wait to go broke.”
As J.E. Dyer noted over the weekend on the Hot Air Green Room, “a member of Obama’s presidential transition team, T. J. Glauthier, is a ‘strategic advisor’ at Solazyme, the California company that is selling a portion of the biofuel to the Navy. Glauthier worked — shock, shock — on the energy-sector portion of the 2009 stimulus bill.”
Solazyme had already gotten a nearly $22 million chunk of change out of the taxpayers thanks to the 2009 stimulus. We heard the ludicrous excuse last week from Obama Navy Secretary Ray Mabus, as quoted in the National Journal, that “we are doing this for one simple reason: It makes us better fighters” because “our use of fossil fuels is a very real threat to our national security and to the U.S. Navy ability to protect America and project power overseas.”(Click here to read the rest.)
What the hell are these people drinking? Whatever it is, they need to put it down, and walk away. This is just ridiculous, and absurd. I swear, Obama is finding all kinds of ways to funnel our money to his buddies, and I am sick of it.
Again, I have to ask – where the hell is the MSM on this?? How many scandals can Obama possibly have before they start reporting them? Unbelievable.