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NEW YORK (AP) - The Federal Reserve announced a $1.2 trillion plan three months ago designed to push down mortgage rates and breathe life into the housing market.
But this and other big government spending programs are turning out to have the opposite effect. Rates for mortgages and U.S. Treasury debt are now marching higher as nervous bond investors fret about a resurgence of inflation.
The White House estimates that the government will rack up an unprecedented $1.8 trillion budget deficit this year - more than four times last year's all-time high.
"The bond market is calling the Federal Reserve out," said Mike Larson, a real estate analyst at Weiss Research Inc. in Jupiter, Fla. "Investors are saying that the Fed can't just print money out of thin air to finance a massive deficit."
Obama, dems/libs were flat-out wrong in their "rosy" estimates.
The troubling aspect to this situation is they have no idea their programs are to blame.
Good. The last thing we need is a artificial boost to the housing market. Overbuilding got us into this mess. Building cheap houses and filling them with cheap imported Asian manafactured goods is no long term solution. We need infrastructure, research and developement, promotion of exports.
Good. The last thing we need is a artificial boost to the housing market. Overbuilding got us into this mess. Building cheap houses and filling them with cheap imported Asian manafactured goods is no long term solution. We need infrastructure, research and developement, promotion of exports.
This should be done in the private sector with competition.
The Government handling these solutions is asking for an overpriced inefficient debacle paid for by us.
Good. The last thing we need is a artificial boost to the housing market. Overbuilding got us into this mess. Building cheap houses and filling them with cheap imported Asian manafactured goods is no long term solution. We need infrastructure, research and developement, promotion of exports.
Stimulus is nothing more than an government-sanctioned balloon. It too will burst at some point and the floor will fall out from under us again. Except this floor will break under the burden of job loss AND inflation.
What liberals dont understand is that if the ONLY people that can stimulate the economy is "the government", then things are really bad and I'm not spending a dime..
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