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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Spekulatius who wrote (6497)11/2/2002 1:03:06 AM
From: Elroy JetsonRead Replies (1) of 306849
 
record low interest rates could continue to fuel RE even if the economy deteriorates further

One horrible plan I have heard from a number of sources is the Fed buying long-term government bonds, and Fannie Mae obligations with freshly printed money.

It's clever in it's own wretched way. Dropping short-term rates further is probably worse than useless. Capital spending by business and home refinancing requires lower long-term rates. This hideous scheme would certainly achieve that.

I suppose, if it comes to that point, it's better for our nation to abandon capitalism and free markets than become another Japan writ large. Most Republicans have only wanted more public subsidies of private profit anyway. Free markets and capitalism were just the cover story for the Dick Cheney, Phil Gramm and his wife running the Enron con-job.
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