Housing Market record high from stimulus 200822
August 22, 2020
Emailed to The United Nations, Fed Chair Jay Powell, St Louis Fed President James Bullard, Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, The U.S. SEC, and NYT/WSJ/WP/DMN/CNBC on 8/22/20.
The U.S. Government is corrupt!
CNBC Real Estate
July home sales spike a record 24.7% as prices set new high
Published Fri Aug 21, 2020 10:00AM EDT Updated 4 hours Ago
Sales of existing homes soared 24.7% in July from June, according to the National Association of Realtors
The supply of existing homes plummeted 21.1% annually, with just 1.5 million homes for sale at the end of July
The median price of a home sold in July rose 8.5% annually to $304,100
Home sales increased by a record 24.7% in July because the U.S. Government is corrupt!
We are running out of houses to buy because the home builders cannot build houses as fast as the corrupt U.S. Government can print counterfeit money!
The median price of a home sold in July rose 8.5% annually because the corrupt U.S. Government is in the process of printing an infinite amount of counterfeit money, so, in theory, the price of homes will converge to infinity!
Home sales increased by a record 24.7% in July even as we face an economic crisis, the coronavirus crisis, and a record level of unemployment filings!
This is just about the last thing we need, more houses! We have been building and buying more and bigger houses for the last 51 years with the imaginary-counterfeit money that the corrupt U.S. Government is fraudulently borrowing from the future Americans! So far, the corrupt U.S. Government has fraudulently borrowed $153.9 Trillion from the future Americans, money that the future Americans do not have, so we can build and buy more and bigger houses!
However, the recent coronavirus stimulus has caused an almost instantaneous huge jump in imaginary-counterfeit money that Americans are willing to spend very quickly to buy houses. The problem is these houses are being purchased with imaginary-counterfeit money that the corrupt U.S. Government has fraudulently borrowed from the future Americans.
The amount fraudulently borrowed from the future Americans is reported on www.usdebtclock.org as US Unfunded Liabilities (GAAP). The following table shows how much imaginary-counterfeit money the corrupt U.S. Government and the corrupt Federal Reserve Bank have printed in the last six months with the coronavirus stimulus.
US Unfunded Liabilities (GAAP)/imaginary-counterfeit money
|February 22, 2020
|August 22, 2020
|Amounted Printed in last 6 months
According to www.usdebtclock.org, the corrupt U.S. Government has fraudulently borrowed $25.6 Trillion from the future Americans over the last 6 months and when the current Americans start seeing this money show up in their net worth, they feel flush and are ready to buy a house!
I am sure that the corrupt U.S. Government and the corrupt Fed were not expecting the coronavirus stimulus money to prompt a record increase in home sales. And the corrupt U.S. Government fiscal and accounting fraud, that I call USAPonzi, has already dramatically over-built housing accommodations throughout America because of the $153.9 Trillion of imaginary-counterfeit money that the corrupt U.S. Government has fraudulently borrowed from the future Americans!
When the corrupt U.S. Government borrows $153.9 Trillion from the future Americans and gives it to the current Americans, the current Americans are ready to buy cars, airplanes, boats, houses, etc.etc.
Americans are making stupid decisions to buy things they cannot possibly afford because the corrupt U.S. Government is lying, by $153.9 Trillion!
The amount borrowed from the future Americans is reported on www.usdebtclock.org as US Unfunded Liabilities (GAAP). Americans can just keep on buying houses as long as the corrupt U.S. Government keeps on fraudulently borrowing imaginary-counterfeit money from the future Americans!
On average in FY2020, the corrupt U.S. Government is fraudulently borrowing more than $76.2 Billion a day from the future Americans so the current Americans can buy a lot of houses (GAAP Deficit in FY2020 = >$27.8T/365 days = >$76.2B/day)!
The corrupt U.S. Government fiscal and accounting fraud, that I call USAPonzi, is filling up Planet Earth with housing accommodations that we cannot afford and will not be able to use when USAPonzi implodes!
Is it any wonder that home sales are hitting new record highs?
The U.S. Government is corrupt!
|US National Debt
|Cash Deficit in FY2020
|*GAAP Deficit in FY2020
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|US Total National Assets
Source: www.usdebtclock.org August 22, 2020
*usdebtclock.org has stopped explicitly reporting the GAAP Deficit. The GAAP Deficit is implicitly reported as the change in US Unfunded Liabilities (GAAP). US Unfunded Liabilities (GAAP) were $126.1 Trillion on October 1, 2019 the start date for FY2020, therefore the GAAP Deficit in FY2020 will be >$27.8 Trillion (>$153.9T-$126.1T = >$27.8T).
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain this accounting fraud and the impact it is having on Planet Earth. My latest book (USAPonziE) is available on Amazon and can be downloaded from my www.usaponzi.net website.
This is the biggest ($153.9 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Great American Fraud” and “The Biggest Ponzi Scheme on the Planet”!
John W. White