william the wie
Gold Member
- Nov 18, 2009
- 16,667
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The double dip in housing and the strategic default wave is coming and it has been building for seven years. 5 years for reset and 2 years for foreclosure proceedings means the 2004 year vintage of non-idiot loans is just now hitting the market in large numbers. With loans to idiots at two year resets already clogging the financial sewers sales of owner occupied housing will soon be harder than can be imagined.
The latest rounds of QE and direct bailouts seem less effective worldwide than their predecessors like QE I. String pushing rarely works and the more it is used the less well it works.
The tweaking of inflation and UE numbers has reached the point that there is almost no trust in the numbers so good news is no longer believed even when true. For example I have heard arguments that Chinese growth is so improperly deflated that real economic growth over there is negative (the latest McAlvaney podcast guest made this claim.)
Usually hits from the blindside do the most damage so am I missing any major problems that are not making the news?
The latest rounds of QE and direct bailouts seem less effective worldwide than their predecessors like QE I. String pushing rarely works and the more it is used the less well it works.
The tweaking of inflation and UE numbers has reached the point that there is almost no trust in the numbers so good news is no longer believed even when true. For example I have heard arguments that Chinese growth is so improperly deflated that real economic growth over there is negative (the latest McAlvaney podcast guest made this claim.)
Usually hits from the blindside do the most damage so am I missing any major problems that are not making the news?