December 03, 2008
– Comments (13)
Treasury Eyes Plans to Lower Mortgage Rates
Department considers plans to intervene directly to force down rates and stimulate the moribund housing market, according to sources.
This is all fools gold. Smoke and mirrors. Tacticts to "jump start" the economy will not work. You cant jump start an economy that is fundamentally flawed. Consumption driven solutions will only plug the dam.
lol subject line nails it. Do houses really need to stay this expensive.
On the evening news - Great and tenured economics professor at the state mega-versity explains why we morons will need another larger government bail-out package just after the first of the year. If we see prices dropping on things like cars, houses, consumer goods, we will (gasp, horrors) wait for prices to keep falling before we fork over our money to buy more stuff thus acting in an unacceptably selfish manner. Following news story - An advance warning to check your mail daily as credit card companies are tightening credit limits starting with those who are close to maxing out their credit lines or have low credit scores.
Wait - WHAT?
I don't care how low mortgage RATES are, as long as asset prices are too high, I'm not buying!
Interesting reading here, regarding the mismatch between delinquencies (nearly 4% for quarter ended September 30) and foreclosure starts/sales:
Mike Shedlock has recently argued that unemployment (using U-6, including people who have essentially given up looking for jobs) stands at nearly 12% and is likely to go much higher. It doesn't take a lot of pessimism to imagine the likely result in terms of delinquencies.
And while the number of people who are looking at negative equity goes up, the HomeDebtors(TM) of America still imagine that house prices will remain steady or go up over the next six months. Unbelievable.
Worst of all to me is that the Treasury would even bother to sit down and solicit the opinions of the corrupt hacks at the National Association of Realtors.
And look at this absolute pile of garbage statement by the writer:
The cost of the plan and source of funding remain unclear. One possibility is for the Treasury to raise money by issuing bonds to the public at 3 percent interest. This could allow the government to turn a profit because it would be buying securities that pay 4.5 percent.
Sure, guaranteed 1.5% spread, right? And if those mortgages aren't paid back?
That's the trouble with the Paulson-led finance monkeys running treasury. They think they understand risk and return, because they're the Wall Street experts. Yet the proved on Wall Street (even Paulson's allegedly bullet-proof alma mater) that they don't. They're still trying to borrow their way out of a credit and asset bubble that hasn't fully corrected, and desperately needs to.
People were defaulting within days, in huge numbers, on teaser-rate mortgage loans that only charged 4.5% or less. The problem isn't rates, it's prices and incomes.
Find the best offers for on our coachor store online. Which you can buy from the trustworthy online that deliver all over the world, and having the competitive price. These cool chestnut coach shoes aim mainly at teenagers, mostly for their cute looks, but older audience shouldn't mind taking a look either, as these coach Signature shoes have a lot to offer. coach sneakers design might not bring anything new to the Athletic shoes brand, but if you're looking for something nice and casual for every-day activities you're looking at the perfect pair of stylish yet simple and cheap coach shoes.
Welcome to our abercrombie clothing online store.You can save 30% now! our online store are suppliers the serious of abercrombie fitch clothing. We offer many different colors variations and styles about nike shoes which contain most of the abercrombie london on sale in the world.We can ensure you get the high quality and competitive prices.Thank you for visiting our web. for any questions, suggestions or complaints you might have. Contact with our customen service.
Authentic /">lv handbags are at the forefront of woman handbagtrendy and fashion. New cheap lv bags may take a good help to achieve your dream. cheap lv handbags is a luxury casting its glory.The most popular styles of lv designer handbags still feature quilted leather styles that display the lv logo.Lv handbags on sale With heavy influence from luxury styles and runway fashion, their discount lv handbags trends are always chic and unique.
gucci shoes, not only is the sneakers of emphasizing the fashionable outer designs but alsoconsolidating high-tech sporting, is working consquently together with fashion icons word wide. We offer great products from gucci sneakers are on hot sale. Our purpose is to offer a low cost alternative to high designer shoes prices. We listen to our customers, adding the latest men's and women's trendy styles.Find ggucci mens shoes online, gucci365.com is your best choice. We can provide Fashion design & High quality gucci moccasins shoes for you. All products on our site are already marked down 30%-60% off retail price.
All the best shoes Nike Shox Shoes Shopping is the best place to shop for Women Shox r4. This is such a great resource that you are providing and you give it away for free, the Cheap Air Yeezy its greatly combined with hip-pop with sex appeal. Pick up any style of for your make look better.
Other collections from this Authentic Dolce Gabbana including the dolce gabbana men shoes. D&G shoes fur coat for men is another choice you may want to consider. Or, choose a dolce & gabbana women shoes leather coat instead of you are looking for more of the bad boy look. Of course, what the D&G shoes male models wear is something you will want to consider, too. As you can see, the D&G shoes Men line is one that encompasses many great types of clothing. From the dolce & gabbana collection shoes logo t shirt for men to the D&G shoes men’s underwear you will wear, you will know that you are getting the highest quality always from this designer. Male D&G shoes models showcase this look all of the time.
To make sure you find all your abercrombie uk clothing or any abercrombie fitch london collections you want, here at our popular designer clothing store, we stock over one thousand discount abercrombie fitch uk collections, including all abercrombie and fitch uk like abercrombie uk, abercrombie fitch london for mens and womens, plus ED hardy belts, boots, caps, and almost all abercrombie & fitch clothing items that are available on the market.And we are constantly adding more discount abercrombie fitch jacket, please come back often to check the latest abercrombie clothing styles. Street fashion, hippy and grooving, abercrombie is the single trendiest brand of modern fashion clothing.
Select cheap coach purses on our shop online,Every authentic coach wallet sale on our shop online are 40% off now. We promise you our best quality of coach Signature wallets and good shipment and price. We do hope to be your reliable and honest partner. Welcome to make orders with coach Signature purses or have business talks with us by e-mail.we have been given with sound reputation from the market for both the high quality of coach wallets discount and reasonable price of our goods, and the first-class level of our service. At present, our business network has been spread wide over the world.