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Reply #16: ZERO INTEREST RATE POLICY. (Yes, Virginia. They are printing money.) [View All]

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vets74 Donating Member (714 posts) Send PM | Profile | Ignore Fri Sep-16-11 08:53 AM
Response to Reply #6
16. ZERO INTEREST RATE POLICY. (Yes, Virginia. They are printing money.)
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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