Two Big Themes Today: Stimulus II and Mortgage Fraud

Unemployment numbers rock the market and kill notions of “Green Shoots.” Mike Shedlock does a nice job of comparing and contrasting the two camps in Battle Lines Form Over “Son of Stimulus”.

The housing market certainly isn’t feeling any relief from the first stimulus (little of which has hit the street) and may lack the confidence a second one will improve the outlook. PIMCO tells us these housing prices are headed downhill for the next 2 years!

Unfortunately, it seems that the way the mortgage market is struggling to survive is on the back of rampant mortgage fraud–with “mortgage rescue” scams leading the pack.

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