Flecks Trillion Down and Still Bailing
From Flecks latest...
despite some 12 financing facilities created by the Treasury and the Fed, massive interest rate cuts and various bailouts..
which have put us all on the hook for piles of money, we still have a terrible market and a recession.
The Fed's own balance sheet has exploded from roughly $900 billion worth of debt in August to around $2 trillion as of last week.
Knowledgeable sources expect that to reach $3 trillion by the end of the year.
as the bailouts prop up poorly managed companies, it may only be allowing them to rain further havoc on the better ones in their industry.
House prices need to come down to where folks can afford them. And prices may have to fall even further than we might have thought in the first place,
because there's going to be high level unemployment and probably not a lot of wage growth.
despite some 12 financing facilities created by the Treasury and the Fed, massive interest rate cuts and various bailouts..
which have put us all on the hook for piles of money, we still have a terrible market and a recession.
The Fed's own balance sheet has exploded from roughly $900 billion worth of debt in August to around $2 trillion as of last week.
Knowledgeable sources expect that to reach $3 trillion by the end of the year.
as the bailouts prop up poorly managed companies, it may only be allowing them to rain further havoc on the better ones in their industry.
House prices need to come down to where folks can afford them. And prices may have to fall even further than we might have thought in the first place,
because there's going to be high level unemployment and probably not a lot of wage growth.
Comments