Home Sales, Inflation, Benadryl, and The Oligarchy Eat Their Own

• Durable Goods, Orders (DGORDER): -16B (-5.71%) m/m.  Contraction (projected).
• Fed Balance Sheet (WALCL): -4B (-0.05%) w/w. Contraction.
• Total Bank Credit (TOTBKCR): -11B (-0.06%) w/w.  Contraction.
• Existing Home Sales (SA) (EXHOSLUSM495S): -160k (-4.05% m/m).   New low.
• 30 Year Mortgage (MORTGAGE30US): 7.29% (-15bp w/w).
• 10 Year Treasury (DGS10): 4.47% (+3bp w/w).
• Strategic Petroleum Reserve (WCSSTUS1): unchanged.

The plunge in Existing Home Sales was the big economic news item this week; total number of homes sold (seasonally adjusted) fell to levels last seen in 2009.  The rest of the numbers this week all smell of contraction – both durable goods orders, and credit creation.   Wolf has charts on the housing market (source WolfStreet).

So with all these recessionary-looking numbers, why aren’t we in a recession?  I believe there are several factors at work – one of which is that ongoing multi-generational wealth transfer, from a shocking number of recently dead Americans, to the heirs.  This started in 2020 (“ventilators for all + midazolam + Run Death Is Near + No HCQ/IVM For You!”), continued through 2021 (same, plus “Safe & Effective!”), and (my guess here) this has also occurred during 2022-present.  We will get an update on ACM on the 29th of next week, from our “friends” at the CDC.  Nothing says “Safe & Effective for De Population” like a 3 year drop in life expectency, amirite?  And that’s just 2020-2021.

Why am I suggesting we’ll see another lifespan decline for 2022?  ACM weekly data from CDC suggests excess mortality for 2022 – just using my eyeball and some boxes – although not as bad as in 2021.  You’d think a ‘Safe & Effective’ shot would have dropped De Deaths when De Mandates rolled out in late 2021.  But exactly the opposite happened – ACM increased.

Gold did well this week, rising 29 (+1.46%) to close at 2013.70.  That’s the first weekly close above 2000 in about six months.  Gold’s weekly swing low candle print was bullish, and my trend models have gold in a moderate uptrend.  The banksters generally don’t like to see gold above 2000, so this is bad news for them.