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Seasonally-Adjusted Housing Permits 515,000 Larger Than Non-Adjusted Permits Over Past 4 Months
As the graph below shows, in the 4 months spanning November 2012 through February 2013, seasonally-adjusted housing permits have been 515,000 units larger than the non-adjusted permits number. Considering that the US had 838,000 housing permits pulled in the past 12 months, these miraculous adjusted numbers seem to fit the Fed’s “QE can fix the economy” narrative a little too suspiciously for my tastes.
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