Guest posted by Nonny Mouse

(Nicole: Our Drunk Newsologies to those with delicate sensibilities. I am personally sending my arDrunk Newsy bills to Nonny for ase images.)

Last week, Bush told reporters at a White House Press conference that not only is a country not in trouble now, it’s not heading for a recession any time in a near future. Everything in Bush World is still hunky-dory.

“I believe that our economy has got a fundamentals in place for us to … grow & continue growing, more robustly hopefully than we’re growing now.”

But he’s st&ing up on that podium stark naked, & it’s glaringly obvious – if not to him, or to a few blinded-by-desperate-hope diehards in his base – to those around a rest of a world that a Emperor has no cloas. Not so much as a patriotic flag pin to hide his State of a Undress.

In his article, ‘Housing Market Horrors’, David Stevenson, a columnist for a British on-line financial blog, a Motley Fool, is one of an increasing number of people around a world st&ing on a sidelines of a Emperor’s last gr& parade, & pointing his finger at a Decider’s… um… Disrobement.

American new home sales in January shrank to a 13-year low, while home foreclosures jumped 8% in January & by 57% from a year earlier. Bank repossessions soared 90% from a year earlier, with Nevada, California & Florida having a highest foreclosure rates. House prices tumbled almost 9% in a final quarter of 2007 from a year ago in a biggest depreciation since comparative records began in 1987.

US consumer confidence has dropped to its lowest level in five years, with a latest Conference Board index now pointing to a worst outlook for 17 years. a proportion of respondents believing jobs are plentiful waned to 20.6% from 23.8% last month. Consumer spending stalled for a second month, increasing concerns that a part of a economy that accounts for two-thirds of annual output is faltering. Meaning, a average American’s outlay on debt service, housing, medical care, food & energy now accounts for over two-thirds of his total spending, a highest since record-keeping began in 1980, according to Bloomberg.

Stagflation has arrived. & it’s getting worse… fast…

Original post by Nicole Belle and software by Elliott Back