Time to sell my winter house in Arizona. Hope the market holds until April of next year.
This is so appalling.... the squalid elites that rule us continue to f### everything up so badly.
Our monetary system has been captured by progressives, social-engineers and their cronies on Wall Street.
Our currency is unbacked by anything - so it can be printed at will. We have a Federal Reserve that can create debt at will and manipulate interest rates, to support the massive nanny state.
Conservatives will lose all political and social battles with the left as long as we have a captured financial system and fiat currency.
This has Mel Watts’ fingerprints all over it.
“Now, the machinery is even crazier, subprime mortgages are even bigger, and mortgage-backed securities, chock-full with subprime, are hotter than ever.”
Mortgage note buyers are only offering 55 cents on the dollar as of two weeks ago. On a seasoned $100,000 note, they’ll pay you $55,000. That’s ridiculous.