EASY AS SHOOTIN' TURTLES OFF A LOG

"The dollar fell to the lowest level this year against the currencies of six major U.S. trading partners as speculation the global economy is emerging from the recession reduced demand for a refuge.
U.S. home prices probably fell at a slower pace in May, indicating the U.S. economy is recovering. The S&P/Case Shiller index of 20 major metropolitan areas, due for release today, will show property values fell 17.9 percent in May from a year earlier, according to the median forecast of 32 economists surveyed by Bloomberg News. The measure was down 18.1 percent in the 12 months ended in April."
Bloomberg

Happy days are here again. Look, the dollar's falling in value! Isn't it great! This has to mean that our economy is getting stronger with every passing day. What a load of crap. Do you think that this could have anything to do with the amount of money that we have printed in the last 8 months or so, just to line the pockets of Goldman Sachs and the rest of the "too big to fail" financial institutions? Maybe the value of the dollar is falling because it really isn't that valuable anymore. But, you say, the value of housing probably isn't falling at as fast a pace. That has to be a sign of recovery. IT'S STILL FALLING!! No probably about it. This is just like the government saying that a program was cut because funding wasn't increased at the same level as the year before, even though an increase still occurred. This double talking pep rally that the government and the bankers are trying to use to get us to spend more of the money that we don't have isn't going to work. We done figgerd out da game. We aren't going to spend because we can't spend and, unlike our Vice President, we know we can't spend our way out of be being broke.

A two-week rally in oil markets sputtered Tuesday and crude prices fell along with the stock market.
Prices first dipped in electronic trading before the market opened and then dropped sharply when new data suggested consumers are less confident than ever about their jobs and the economy as a whole.
The second quarter us usually very strong for companies like Valero, which refines oil into jet fuel and gasoline, because it is usually the three months when people travel most.
But there is much less being shipped in 18 wheelers and Americans are driving far less than they did in past years, even though gasoline is a comparative bargain.
MSNBC

This is as clear an indication of the true state of the economy as you are going to find. If the oil companies and the commodities traders can't even figure out a way to get these prices up and make them stay there, something is seriously wrong. We are in the beginning stages of a depression and the actions of our benevolent masters and the Fed are going to make sure we are in it for a long, long time. How can anyone argue that house prices are increasing when the banks won't lend money and even if they would the people won't borrow. I don't think that I need to be an economist to understand the simple law of supply and demand. Prices cannot rise if there is no demand to drive them. The only houses that are selling are being subsidized through a redistribution of wealth using tax credits and first time home buyer programs or they are being dumped because of repossession.

The sudden rise in the stock market is being fueled by the TARP funds finally being injected into the system. The banks are just trying to make it look attractive enough to get the suckers to get back in. When it gets to the point that sustainabilty is no longer possible, the big boys will come out, which will crash the market leaving the suckers holding the bag. It's virtually the same game they played with the tech stocks as describe by Matt Taibbi in Rolling Stone. Since Goldman Sachs has now installed its people at all levels of the Obama administration this should be easy pickin's.