Turn off the Bubble Machine

Government stimulus actions create bubbles. These are often mal-investments that work like a Ponzie scheme. If you get in and out early, you make money.  If you get in late, you may be left holding the bag. - Norb Leahy – See below:

 

Building Permits Plunge after NYC Property Tax Break Expires, Housing Starts Stable

zerohedge.com / by Tyler Durden / 08/18/2015 08:38

After 3 months of exploding building permits – driven exclusively by the Northeast region as a result of an expiring property tax break in NYC, reality bit in July as permits plunged 16.3% to the lowest since March (biggest drop since June 2008), down to 1.119MM from 1.337M last month, and far below the 1.228M expected, confirming once again that economists did not even have a clue about the driver behind the recent surge, even though as we warned just before the number was announced…

http://www.brotherjohnf.com/building-permits-plunge-after-nyc-property-tax-break-expires-housing-starts-stable/