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Reply #16: ZERO INTEREST RATE POLICY. (Yes, Virginia. They are printing money.)
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vets74
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Fri Sep-16-11 08:53 AM
Response to Reply #6 |
16. ZERO INTEREST RATE POLICY. (Yes, Virginia. They are printing money.) |
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The big news here is more-more-more redistribution from the Middle Class to the top 1% by wealth.
Since 1980 the bill for these scams is $17-trillion inside the U.S. That's for a country valued at $55-trillion total.
There's also a bookkeeping scam on housing -- the 2003 total mortgage indebtedness was sitting at $4.9-trillion. Peak indebtedness hit $10.6-trillion going in to 2008. for a 10% increase to the housing stock.
Mortgage indebtedness was more than doubled. (Low-income federally encouraged mortgages are the highest quality segment of the mortgage pool. Those houses didn't inflate so much. They're barely under water.
I'm not including that housing-inflation "friendly appraisal" scam in the $17-trillion of outright theft :::
-- Reagan tax giveaways -- Big Bubble I 1994-2000 -- Bush tax giveaways 2002, 2003 -- Big Bubble II 2003-2008
Big Bubbles are ZIRP gone wild. It's continued now so's housing prices just slide down the pole.
Too bad the Obama inner circle doesn't have a tough-minded econ guy........
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