Housing, Housing, Housing

Bloomberg (04.27.07):

"The U.S. economy grew last quarter at the slowest pace in four years because of the housing slump and a bigger trade deficit, leaving consumer spending to keep the expansion alive."

U.S. Economy: Growth Slows to Least in Four Years

"Last quarter's growth rate was the weakest since the first three months of 2003. Growth in the 12 months ended in March slowed to 2.1 percent, the weakest year-over-year gain since the second quarter of 2003."

Hey what's the deal? Weren't those tax cuts gonna save us? Oh wait a minute; we were saved!

Now, about that trip to Europe. AP (04.27.07):

"The euro reached an all-time high against the dollar Friday when weak U.S. growth figures reinforced worries about a widening economic disparity between Europe and the United States.

The surge will not be kind to Americans visiting Europe this summer, who will feel the effect in higher prices for hotels in Rome, entrance fees at the Louvre and cherry beer in Belgium."

Euro Rises to Record High Versus Dollar

Cherry beer? Yechh!