July 30, 2010

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GDP, Mortgage Bonds, Zero Interest Policy, Renters for Obama, Stop Being Bearish

October 30, 2008 By Bill Rice Leave a Comment
googlesoupline-093x093

GDP Swings Low, Sweet ... Well it is official, we're contracting. Consumers are hoarding their cash (taking queues from the banking sector). Unlike the recession of 2001 consumers will not be borrowing their way through hard time--try to find a home equity line of credit these days. They're calling it a recession: “This is the first of a run of negative G.D.P. numbers,” said Ian Shepherdson of High Frequency Economics. “The economy is in recession.” He predicted that the economy would shrink … [Read more...]

Filed Under: Economy, Federal Reserve, Mortgage Notes, Mortgage Rates, Politics, Wall Street Tagged With: bear market, fed, gdp, google, mortgage bonds, Mortgage Rates, obama, recession, renters, zero interest policy

Fed Lowers Rate 0.5% to 1%, But is There More?

October 29, 2008 By Bill Rice Leave a Comment
fomc meeting

Aaron Task presents a great Fed premonition. The Fed might not be done. In fact, it seems pretty clear they are locked into a recessionary outlook and few ideas for a short-term recovery. Recent policy actions, including today’s rate reduction, coordinated interest rate cuts by central banks, extraordinary liquidity measures, and official steps to strengthen financial systems, should help over time to improve credit conditions and promote a return to moderate economic growth. Nevertheless, downside … [Read more...]

Filed Under: Central Bank, Economy, Federal Reserve, Mortgage Notes Tagged With: fed, fomc, interest rates

Mortgage Fraud, Banks Borrow From Fed, Housing Starts, Buffett Buys American

October 17, 2008 By Bill Rice Leave a Comment
warren buffett

Mortgage Fraud US attorney is on the hunt for mortgage scoundrels. He is promising "dramatic results," but I am skeptical about making mortgage application fraud stick to these former high-flying executives. Mortgage applications were worked and approved at very low levels within these organizations. Loan origination strategies and behaviors were managed with commission plans and production quotas--making proving high-level, endemic fraud very hard to prove. Banks Borrow Record Fed Funds Banks reach … [Read more...]

Filed Under: Economy, Federal Reserve, Mortgage Notes Tagged With: banks borrow, buffett, fed, housing start, mortgage fraud

Morning Worldwide Central Bank Rate Cuts Trump News

October 8, 2008 By Bill Rice Leave a Comment
central bank chess game

The rush of morning economic news is all about the extraordinary, coordinated rate cut by most of the world central banks. This coordinated 0.5 percent rate cut is a growing indication of a global economy that is comprised of increasingly coupled independent national economies. The world markets over the last several days have been an eerie forecasting tool for each new market opening. Here is some of the initial coverage as markets seem to react positively: Federal Reserve explains in statement … [Read more...]

Filed Under: Central Bank, Economy, Federal Reserve Tagged With: bank of england, Central Bank, Economy, european central bank, fed, rate cut

Government to Buy Unsecured Corporate Debt

October 7, 2008 By Bill Rice Leave a Comment

The Government is now REALLY wading taxpayers into dangerous waters-considering buying (unsecured corporate debt) commercial paper. Link tour of the issue: Credit crunch continues to spread, freezing corporate credit (NYTimes) Federal Reserve and Treasury discuss buying commercial paper (Reuters) $95 billion has flowed out of the commercial paper market in the first week of October (Telegraph) Bill Gross of PIMCO never saw a bailout he didn't like (Bloomberg) … [Read more...]

Filed Under: Commercial Paper, Federal Reserve, Treasury Tagged With: bill gross, Commercial Paper, debt, fed, pimco, Treasury