
There is no excerpt because this is a protected post.
You would think the Fed wanted housing to become as overpriced as possible, having supported the market with $2.575 trillion in purchases of mortgaged back securities on its balance sheet to keep those securities flowing through with very low yields. That translated downward, of course, to very low mortgage rates, which the Fed sustained throughout […]
The two biggest problems on SlowJoe’s plate right now, outside of seeing his son’s goose get cooked, are the migrant surge at the border, which is entirely a US self-inflicted crisis, and the unresolved debt crisis. I have long claimed the immigration problems of this country are easy to fix in terms of what needs […]
The Fed’s fight has become much more complex this month. Inflation is fighting back harder all of a sudden, while the US debt ceiling is putting bond markets and banks at considerable risk by driving bond yields up even faster than the Fed was doing. This extra thrust is happening just as the Fed was trying to end its rate increases and even as additional banks are poised to collapse from the already-high bond rates. The situation appears to be cascading into a nuclear market meltdown.
Is this desperate destruction in Bakhmut by carpet bombing large civilian areas in a rain of fire the signature of victory or failure before retreat?
There is no excerpt because this is a protected post.