The Fed has determined that home prices must stop falling to save the economy from collapse. Today they signaled that they will keep firing until prices stop falling period. From today forward when you blather away about the sky continuing to fall from here you are a fool. The Fed printing press that prints dollars. If necessary they will print and loan at 0% until house prices stabilize
Yes, fire hosing pixel money at this will solve everything. The Fed will be looking like snake oil salesmen this coming summer and the peasants will be sharpening pitchforks.
OT: Any one who is interested check out Matt Simmons and Robert Hersh discuss what’s going on in the oil world. Seems peak oil could be rearing its ugly head again sooner than most think. That $147 price per barrel could be just a warm up.
