Posted on 02/12/2023 6:37:44 AM PST by Kaiser8408a
Bidenflation is a terrible tax on America’s middle-class and working class. But thanks to The Federal Reserve’s war on inflation, and it is now bleeding over to mortgage-backed securities yields.
The most recent tightening by the Federal Reserve has pushed the federal funds target rate above mortgage-backed securities yields for the first time in history. Though this poses clear challenges of carry for MBS holders, selective investments in specified pool and collateralized mortgage obligations (CMOs) could provide incremental returns.
While Biden brags (redundant) about lowering inflation (that his energy policies and massive Federal spending caused), apparently he never learns. Now we learn from Mish that the Biden Administration is ready to unleash a $27 billion green slush fund on the US middle class.
Once this latest spending splurge kicks in, we will see rising inflation again. After all, Biden and Congress have gotten the taste for massive spending bills 9like vampires) and spending likely won’t slow down.
(Excerpt) Read more at confoundedinterest.net ...
Check on the first sentence.
On the second, make it about .05 to .01%, and with connections to the party hierarchy.
After two generations of hard work, I think I'm bumping into 1% territory, although a significant fraction of that will go back to government at various levels in a few years when I leave it behind. And, I know the Dems don't care about old, white, cis-, conservative me.
To be fair - the Covid spending under Trump was an inflation igniter as well. But we do need to keep the word out on Biden and his reckless ways.
That old joke Reagan told about Congress spending money like a drunken sailor could be updated to reference a coke-head son of a certain former VP from Delaware.
I’m surprised the Democrats haven’t yet tried to means-test Social Security and other federal programs - but only for the conservatives of the middle class.
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