The fed raised interest today by one-quarter point. This is the 13th time the fed has raised the interest rate. One of the reasons stated was the fear of inflationary pressure brought on by high oil prices.
Another piece of bad news…courtesy of the Republican Party…..in November the US deficit spiked at $83.1 billion…the highest November imbalance ever recorded.
Spending racing ahead of revenues due to tax cuts for the rich.
IMHO this is the factors for the perfect economic storm….it certainly will be bad weather for the housing market…which happens to be the only factor that is contributing to wealth for the middle-class.
How do you spell Hooverville? Can you really build a two-story ranch out of cardboard boxes?
8. Now the gat will get wider. Now that they suckered folks in to the
home equity and home buying bubble. The corporate lenders, bankers, and stock holders are rubbing their hands together in glee. Stay tuned, the next home that is foreclosed might be your own.
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