Shocking CNBC Headline: "Home Price Double Dip Begins"
Diana Olick, by far the best reporter at CNBC, and not merely an anchored regurgitator of propaganda bullet points, let one slip today, by posting an article on CNBC titled: "Home Price Double Dip Begins" (and we have a screenshot in case CNBC realizes the grave error it has made and retracts it). While nothing new to Zero Hedge readers, where we have been making the case that the economy has nothing to double dip to, considering it has been in one depression for 33 months now, it may catch the broader public by surprise. Ms. Olick's arguments: "given the combination of the expiration of the home buyer tax credit and the increasing number of loans moving to final foreclosure, we knew that home prices overall would take a hit, but it would take a while. Well we're here." And there you have it - there is little that can and should be added when dealing with the simple truth. Of course, for CNBC to regain its floundering Nielsen ratings it would take all the daily staff to follow in Ms. Olick's example and report what is actually happening to the country, instead of what Joe LaVorgna believes should be happening, based on the goalseeked output his "economic" model is spewing forth. Alas, it is now far too late for the cable station to regain much needed credibility, especially when anchors tell guests who dare to question the propaganda assumptions that they disagree with they are not welcome.
Link:
http://www.zerohedge.com/article/shocking-cnbc-headline-home-price-double-dip-begins
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