Posted on 04/05/2012 8:26:55 AM PDT by jwsea55
David Zervos, head of Global Fixed Income from Jefferies Securities, compares how goverment intervention in the Treasury market is somewhat similar to the government's endorsement and Wall Street's packaging of the junk Maimi ocndo market as high quality loans. When is the Fed's actions of buying long U.S. Treasuries going to catch up with what is really happening in the financial markets, government spending and the real economy.
(Excerpt) Read more at finance.yahoo.com ...
What that means is that the United States is fundamentally solvent!
Man, if we could start electing people to office who have the Country’s long term best interest.
According to this RAND report we probably have 100 years of oil domestically. AND THIS DOESN’T INCLUDE WHAT IS OFF CALIFORNIA’s SHORES...which a few oil people have told me could be huge.
forgot to add...what about keeping $200 billion here rather than shipping it off to people who vow to destroy us. Hmmm, how many high paying jobs does $200 billion CREATE here?
CPA's and attorneys in the Miami area set up Florida LLC's for the purchasers of those homes, because they couldn't get loans as an individual. The banks then made the loans to the LLC's.
Why? Because they were foreigners from countries that weren't on the Visa Waiver Program, such as Mexico, Brazil and Argentina.
When the market balloon popped, the foreigners said "so sorry, the economy is bad here, we're going home."
The banks loved the fees on loans for Miami condos selling at $500-$1000 per square foot. Current prices now average $350 per SF.
Looks like a new bubble is born.
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