What Are You Doing Right Now? (213 Viewers)

Bjerknes

Bjerknes

"Top Economist"
#150,381
Mar 16, 2004
116,615
#150,381
Sorry Greg, but that's just unacceptable. You should be out there buying Vegas homes financed at such great rates. But since you're not doing that, I am going to obliterate your savings and raise your prices. Having no capital formation is "good for the economy." :gsol:
 

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OP
ßöмßäяðîëя

ßöмßäяðîëя

The Krazyman
Thread Starter #150,384
Apr 12, 2004
77,165
  • Thread Starter
    • Thread Starter #150,384
    Bjerknes said:
    Yes I do. It might be nice for those underwater on their mortgages, but the cost of the FED buying MBS and UST's is passed on to everyone by debasing the dollar and causing food, oil and prices of everything you need to sky rocket. Sure, your day of reckoning with the bank might be delayed, but now you're seeing your essentials ramp in price. That is a massive negative to the consumer and any business has to buy commodities.

    So no, it's an utterly reckless policy, and doesn't work in the long run. I sympathize with folks who were conned into being underwater, but not to the point of destroying anyone who has savings or has to buy food.
    Click to expand...
    To most, a house is more important than a car or any oil product.

    Your necessity map is all screwed up. You can get food for free, you can't get a house for free.

    Dru said:
    Beer and wine is now for sale in grocery stores in Dallas county
    Click to expand...
    Always a positive thing.
     
    Bjerknes

    Bjerknes

    "Top Economist"
    #150,388
    Mar 16, 2004
    116,615
    #150,388
    ßöмßäяðîëя;2751404 said:
    To most, a house is more important than a car or any oil product.

    Your necessity map is all screwed up. You can get food for free, you can't get a house for free.
    Click to expand...
    I'm not going to buy a house when the market is only being supported by this rubbish. The FED is trying to con you into believing they can make this work, but they can't. If you're underwater, the bank doesn't want your house, you might be able to settle with them.

    And again, these policies don't even work. Look at the 10-year. Mortgage rates rose, not fell, when the first QE was announced.
     
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