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« James Grant: 'Bernanke's Helicopter Needs A Bailout' | Main | Bill Maher On Guns And Civil Liberties In America »
Friday
Feb082013

WHALEN: 'The Fed Is Creating ANOTHER Housing Bubble'

Deja Popped.

'Bernanke is just making it up as he goes along.  The Fed is acting more like the Marx Brothers than serious regulators.  The Fed and the Treasury are the biggest source of systemic risks in the market today, creating another bubble in housing and perhaps also in stocks."

Lauren Lyster with Chris Whalen on Tech Ticker last Friday.

 

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Reader Comments (8)

The federal government borrowed 46 cents of every dollar it has spent so far in fiscal 2013, which began Oct. 1, according to the latest data the Congressional Budget Office released Friday.

http://www.washingtontimes.com/news/2012/dec/7/government-borrows-46-cents-every-dollar-it-spends/
Feb 2, 2013 at 4:59 AM | Unregistered CommenterDailyBail
Feb 2, 2013 at 5:11 AM | Registered CommenterDailyBail
I admit to being a complete dumb ass, but Mr. Whalen makes excellent points. Wish luster would slow down and let Mr. Whalen finish a thought. Excellent reporter though.
Feb 2, 2013 at 10:56 AM | Unregistered CommenterSKINFLINT
Skin

She gets a little excited sometimes and talks too much. No doubt.
Feb 2, 2013 at 11:56 AM | Registered CommenterDailyBail
I Refinanced my small house recently to get the lower interest rate. At that time my house had been appraised by the banks (when I originally bought the house with a mortgage) at 92K. When I re-financed in July 2012, they said my house was worth 75K, even though I owe 80K. But the banks are going ahead with the refinancing for people....I thought that was odd....UNTIL...I got a letter from Freddie Mac (after I had done all the paper work and finalized the refinance) that they had taken over my Loan.

In the 5 years I've had the house I've never been late on any payment but Freddie Mac is apparently for homes that are "underwater" or those that are "sub-prime".

I got this house all on my own with no help. Now, suddenly Freddie Mac is involved. It's really creepy.

It gets worse, though.

About a month ago I got a letter from the County Assessors office to let me know my house and property it sits on is NOW being assessed at 55K!! This can't be coincidence.

This has turned out to be a real scam. The house is older (but sturdy) and built in 1950. I got the house and have been slowly fixing it up...but in new windows, doors, paint, fencing, etc. I don't live high off the hog, and have not overstepped what I can afford (like many people are insinuating about all the "homeowners" that are in bad situations).....

But now, I don't feel like fixing anything up anymore. Because do the math....Owe: 80K.....Worth: 55K....

I'll just stay here for a while for the cheap "rent" because that is all it is at this point...right?...You can't call this some kind of "purchase" plan. And get this, I called the Assessors office and told them that I might just leave the house and then they won't collect the taxes on it, and the woman had the nerve to tell me that in regards to losing my money: "Not necessarily...". She tried to tell me some stupid b.s. and I told her I'm not that much of an idiot!.

They really want you to stay in the house that they just devalued by 31% so they can continue collecting the SAME taxes. They won't even hear about lowering your taxes....

The system is beyond corrupt. Why aren't more people seeing this?

Sorry so long, but I hope someone may be helped and prevented from buying into this Banking scam called "home ownership".
Feb 3, 2013 at 3:07 PM | Unregistered Commentershea
Artificially low interest rates and pension funds:

http://finance.yahoo.com/news/low-rates-force-companies-pour-041100576.html

Kaboom!
Feb 4, 2013 at 3:55 PM | Unregistered CommenterJosie
This is the next generation getting no interest on
savings so the banks creating the bubbles to short
against can have trillions in free money (not counting
LIBOR--trillions lifted and removed from the country,)
and it's an essential part of enabling their creating
bogus value to short and then make you pay for presently.


http://www.marketwatch.com/story/no-money-down-home-loans-are-back-2013-02-01



Treasury and the Fed have given the banks trillions
for bogus value.
http://www.nomiprins.com/storage/bailouttallyoct2011CLEAN%20NO%20FORMULAS.pdf


The Fed is currently simply buying all the overvalued
assets so as to retire them. (Actually Fitts' view
can only make sense if it's really going to
resell them at an interest rate adjusted huge
loss and at market prices thus having acted as
would a syndicate's fence.)

http://solari.com/articles/quantitative_easing/

This to eternity.
http://www.youtube.com/watch?v=kXJjNRIZNZk&feature=related
Feb 6, 2013 at 11:13 AM | Unregistered CommenterMaxwell Smart
So, Tom Barrack was just on halftime fast money talking about this very thing...but I got the impression, as a housing investor, that he is very ok with it...but at least he clearly laid out how this whole housing market is Fed subsidized, and how it works, and the scary result of a meltdown...
Feb 11, 2013 at 12:56 PM | Unregistered CommenterJosie

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