April 26, 2004

50-0 FILES:

U.S. March New Home Sales Rise to a Record 1.228 Million Rate (Bloomberg, 4/26/04)

U.S. sales of new homes rose to a record 1.228 million annual rate in March, exceeding forecasts, as cheap financing and an improving job market persuaded Americans to invest in real estate.

Single-family home sales rose 8.9 percent from a revised 1.128 million annual pace in February, the Commerce Department said in Washington. New home sales reached an all-time high of 1.085 million in 2003.

Mortgage interest rates last month approached four-decade lows and companies added the most workers to their payrolls than at any time in almost four years. Builders such as Centex Corp. and D.R. Horton Inc. are confident rising employment will underpin sales, boosting the economy. A measure of the supply of homes for sale fell to the lowest since August.

Heard the Democrats refer to Bushonomics recently?

Posted by Orrin Judd at April 26, 2004 11:16 AM

They've got to say something. Read this, and you'll even start to feel sorry for them.

Posted by: David Cohen at April 26, 2004 12:06 PM


Again, I wonder, why is it that they think there's a way of explaining the difference between medals and ribbons that helps him? Just take the bullet and move on.

Posted by: oj at April 26, 2004 12:16 PM

"medals" vs. "ribbons" -- such sophistry worked in the past, (like the meaning of " is") so of course it will work again. Which is why, decades later, the Dems are still running against Herbert Hoover, Joe McCarthy, Richard Nixon and the Vietnam War.

Posted by: Raoul Ortega at April 26, 2004 12:43 PM

No, that exchange is actually a reason to vote FOR Kerry. "I saw you throw the medals..." "No you didn't see me" - this proves John Kerry has the power to cloud men's minds, just like the Shadow! Maybe he can cloud enough of them to get himself elected.

Posted by: John Barrett Jr. at April 26, 2004 12:48 PM

Isn't that problem that they saw what happened to Al Gore -- the "exagerator" label got hung around his neck -- and they're desperate to stop the President from hanging the "flip-flop" label around Kerry's neck. As a result, they're so focused on consistency (even where voters wouldn't really expect it) that they're ignoring the fact that they're just drilling "threw back his medals/ribbons" into voters' heads.

Given that we're at war, this is the wrong choice to make and John Kerry is just not the right guy to make this case, anyway.

By the way, did anyone see it? Was it as awful for JFK as it comes across in the transcript?

Posted by: David Cohen at April 26, 2004 1:11 PM

The media can't even gussie up Kerry's blather. And they're getting a bit antsy about being tainted in the effort to do so. Not good for Kerry.

As Capt. Willard said, "the bullshit piled up so fast you needed wings to stay above it..."

Posted by: M. Murcek at April 26, 2004 1:44 PM

Who are you going to believe, Charlie, me or your lying eyes?

Posted by: Fred Jacobsen (San Fran) at April 26, 2004 2:54 PM


Leading Indicators

The Conference Board reported yesterday that the U.S. index of leading economic
indicators (LEI) rose 0.3% in March. The LEI has been up 11 out of the past 12 months.
The index is up 4.4% year-over-year the highest since 1984, according to CSFB.

Corporate Earnings
Over half of the companies in the Standard & Poor's 500 have reported first quarter
earnings, and 78% of them have beat estimates, according to Thomson First Call. That
figure is usually closer to 58%. At this point, operating earnings are coming in roughly 22%
higher than the first quarter last year, according to Howard Silverblatt at S&P. S&P 500
earnings are on pace to set a record this quarter.

Ya, this economy's an absolute disaster.

Posted by: John Resnick at April 26, 2004 4:34 PM

Heard Lurch bloviating about Herbert Hoover this afternoon.

Posted by: Robert Schwartz at April 26, 2004 11:50 PM