Your Obamanomics news for today

I've got an idea for a time machine. Put Barack Obama in charge of the economy and before you know it, time will go into reverse and we'll begin to see our home values as they were in 2002 and durable goods orders lower than at any time since 2009. The Standard & Poor's/Case-Shiller home-price index shows prices dropped in December from November in 18 of the 20 cities tracked. The steepest declines were in Atlanta, Chicago and Detroit. Miami and Phoenix were the only cities to show an increase. The declines partly reflect the typical slowdown that comes in the fall and winter. Nationwide, prices have fallen 34% nationwide since the housing bust, back to 2002 levels. A gauge of quarterly national prices, which covers 70% of U.S. homes, fell to its lowest point on records dating back to 1987. Man, I feel younger already. And what about durable goods orders? New orders for long-lasting U.S. manufactured goods fell in January by the most in three years as demand slumped...(Read Full Post)

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