I keep reading and hearing about the Federal Government considering more stimulus. Are you kidding me?
Folks we are talking about interest rates that are at levels that are insane. Is the FED really thinking they are going to get more people to buy more homes or refinance more properties?
OK, there are a few that are waiting for interest rates to go lower, but anything that is stimulating interest rates cost every tax payer money that we shouldn't have to pay. Look, I have spent the majority of my business life in the mortgage business. I have seen mortgage rates in the mid-teens and we are thinking rates in the 3 or 4% range isn’t low enough, that is insane.
Check out this article for more information:
Mortgage Rates Fall Back as Some Wait to See Stimulus 08/30/2012 By: Tory Barringer
Joe Petrowsky, Right Trac Financial Group, Inc.
860-647-7701 ex. 116
In the end all the money printing causes inflation, which is the worst form of tax ever devised because it hurts the poor the most. The inflation "stimulus" printing causes will eventually (and probably very soon) become unstoppable hyperinflation then everyone will be scratching their heads asking "how did this ever happen?" It happened because we voted for criminal politicians who with their banker friends took us for every last penny. Every wonder why since 1913 the dollars lost 97% of it's value and prices continually have gone up? You think that this is normal? This should not be "normal." Prices should generally go down with increasing technological advances but due to the inflation created by deficit spending, QE's, bond buybacks and money printing, the dollar becomes worth less and less and prices rise in response. It's called Keynesian economics and it's a fraud. We've all been had and the jig is just about up. The days of the dollar are numbered.
And interest rates? They will remain low for a very long time, or at least as long as the FED stays in business and has close to $2t in government treasuries.
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