in any comment section involving the fed, Janet has a new nickname,
Janet "Bubbles" Yellen...
the fed continues to NOT raise interest rates at every opportunity, next meeting scheduled for June...
She is even running into resistance at her own camp, the lady fed from Kansas City has voted to raise rates
multiple times and now just abstains.....creating a bubble after 9 years of no interest rates and QE2...
Here in Florida we have another housing bubble, as prices have not only caught up
to previous highs before crash, they are higher, scary...
No such thing as a starter home, here they take a tool shed,put it on a lot west
of the turnpike and sell it for 1,000,000.... lot more foreclosures to be had again when next
crash comes....only thing done differently this time around,is the no doc loans are
not even submitted as would be turned down....That slowed down the flippers,
who bought an appraised 300k down, paid 400k for it, figuring on flipping at 500k in
6 months...
But we still have fannie and freddie giving loans with 5% down, and new home builders
providing even better options, so their are plenty of 1st time buyers upside down before
they move in...
Add that to the Haitian concept of home ownership, thats when 32 people live in
same house and share 1 bathroom and split the mortgage payments, how many are legal.?
A lot are legal, the men drive taxis and the women work at Walmart and Publix,
but not all are legal...
Thats just the housing market....stock market is another story....
the worse the earning reports are, the higher it goes...matter of time...
if the Fed raises rates, watch out....almost too late,
but better to take the hit now once and done vs building bigger bubble, will be disastrous later...
They should have let it crash back in 2008 and let a few of the banks default and go into
foreclosure vs bailout, ols school scholar by the name if Milton Friedman out of U of Chicago,
great read, look him up...
cannot wpeak for everywhere else in country, but we have a serious college loan bubble issue also...
no jobs, parents co-signed, parents sell overpriced homes to pay off kids debt,
kids move back into basements,scary
Does not matter if you vote Hillary or Donald, whoever gets in is fvcked, recession coming if not
already here, but do NOT blame it on the fed or the Muslim
