CNBC was chirping all day on the post FOMC rally

CNBC was chirping all day on the post FOMC rally. Most of it was attributed to a 'softening' in the statement by the Fed leaving the way for a pause. Let's see if we can spot that 'softening'. The last two FOMC statements are below and I bolded some differences. May 10th FOMC Statement I was recently asked if I saw anything whatsoever that suggested lenders are tightening at all in the face of declining collateral and rising debt service pressures on their customers. The answer to that question is a resounding no. In fact the latest data shows the opposite: credit standards are still getting easier and businesses are still trying to expand or capture market share regardless of the consequences down the road. Bank Lending SurveyAccording to the April 2006 Senior Loan Officer Opinion Survey on Bank Lending Practices The Arizona Republic is reporting Firm is failing to pay its carpenters. A closer look at the article shows that subcontractors are not paying workers because the subs are not being paid by the homebuilders. Let's take a look: I recently called Jack McCabe of McCabe Research & Consulting for an update on Florida housing. McCabe told me he is now bracing for a 'Litigation Nightmare' over the next several years in the wake of the housing bust. Following are some of the items we discussed. Litigation Items It is hard to get a descriptive h1 into a short line. I am not giving home builder reviews, but rather asking for them. More specifically, Mike Morgan at MorganFlorida is asking for them. The following is from Morgan. Our new website was launched today: Builder Reviews I have been pondering the word 'stagflation'. Judging from the stock boards I post on, a vast majority seems to think we are in it or headed for it. What exactly does stagflation mean anyway? Let's take a look at two definitions and a comment from dictionary. com. Here it is folks: The Beazer Teaser. They call it the 'Big Red' sale because you will be big in the red within a year after buying. Check out the teaser rates on these loans. Beazer does not even have the decency to hold that rate for three years. Heck they did not even hold it for two years. Anyone that needs 1.875 to qualify for a loan is a sucker who is probably going to regret buying in one short year. For that matter anyone that can not afford 6% probably has no business buying. These kinds of programs are one of the reasons why foreclosure rates and bankruptcies are sky rocketing. Mike Shedlock / Mishhttp://globaleconomicanalysis. blogspot. com/ On June 8th there was a post made on my board on the Motley FOOL that 'The US dollar is toast'. I often hear the same sentiment expressed on Silicon Investor and numerous other message boards and blogs as well. Another often heard theme is 'US Treasuries are toast' and indeed the overwhelming sentiment is that US Treasuries are in some sort of humongous bubble. My usual response is to ask why, and then again ask against what. Most of the time I do not get an answer as to why. That of course means the person saying it is just repeating the common mantra of the day, just as the shoe shine boy was telling everyone to short the dollar back in March of 2005.On March 18, 2005 I made the following post on my Global Economic Analysis Blog.