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Since QEternity was announced, the spread between the 30Y mortgage and 10Y Treasury has collapsed from an already very tight (in anticipation of QE3) level to simply incredible levels. Following our comments on Friday about the relative ‘safety’ of mortgages over Treasuries, the compression from over 60bps pre-Ben to a mere 22bps now is incredible and just highlights how entirely distorted any signaling from any rate market has become. The point remains that [...] 850,000 Halifax borrowers affected by move that will see many mortgage repayments rise by £40 a month Around one million homeowners were hit by [...] The 2006 lame-duck Congress passed a mandate requiring the Postal Service to prefund 75 years’ worth of future retiree health benefits within 10 years. No other entity — public or private — has ever been subject to such a draconian requirement. Congress created the problem, and Congress needs to fix it
PAEA law passed in 2006 requires prepayment to fund for health By Greg Hunter’s USAWatchdog.com It is official. State and federal governments have condoned forgery, perjury and fraud in what’s been called the “robo-signing” foreclosure debacle. Last week, the five biggest banks in America signed on to a $26 billion deal that, basically, lets them off with a slap on the wrist for fraudulently foreclosing on homes in the last few years. I am not going to go on and on about how unfair [...] Greg Hunter My slogan is “analyzing the news to give you a clear picture of what’s really going on.” So, I spend a significant amount of time watching news on TV and the Internet and even the good old fashioned newspaper. If you only got your news from the mainstream media (MSM), it’s easy to understand whyso many people think the economy is not all that bad. For example, yesterday, I [...] The media has been replete with commentary lately about the bottom in housing and the coming recovery in 2012. Of course, this is the same siren’s song that we heard in 2010 and 2011 and many a soul were dashed against the rocks of further declines. In this past weekend’s missive we talked about the 5 reasons why the bottom in housing is not in and why further declines are [...] By Amy Hoak, MarketWatch There are other reasons your rate might be higher. Below are five of them. 1. You’re not paying points Average rates in Freddie Mac’s survey include average discount points paid for the mortgage. But not everyone is willing to pay points. For the week ending Oct. 27, rates on the 30-year fixed-rate mortgage averaged 4.1%, but that rate required an average 0.8 point to get it. A point is 1% of [...] by Chris Martenson The Screaming Fundamentals For Owning Gold And Silver This report lays out an investment thesis for gold and one for silver. Various factors lead me to conclude that gold is one investment that you can park for the next ten or twenty years, confident that it will perform well. My timing and logic for both entering and finally exiting gold (and silver) as investments [...] by zh Somehow catching Ben Bernanke lying on national TV has become not only a national sport, but one that provokes uncontrollable laughter… Ironically that is the laughter of all those whose money on a daily basis is worth less and less, courtesy of the Chancellor (Chairman is so QE1) buying back $50 billion in debt every week. Presumably laughing as one’s net worth is getting destroyed makes it more palatable. [...] by The Truth Contrary to popular myth, there are people in this country that do save. And the Fed’s policy over the past few years have terribly hurt the savers in this country. How many billions upon billions of dollars of disposable income have been removed from the monetary system because of the Fed’s interest rate policy? And for what reason? So that people who continue to in-debt themselves can have slightly [...] FIRST, the GDP is not there for comparison to our deficits and debt. The GDP is the WHOLE country’s income, NOT the government. They only get the tax and duty revenue. That’s like saying to the bank, I make X but my company makes Y, base my loan on Y! SECOND, we currently SPEND 50% MORE than we take in. So, let’s say we as a country make $100,000 a year. We [...] |
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