Lord Fed Gets a Bit Tired of The Game: "Come On You Guys, Cut That Out, Come On..."
It seems Fed Chair Ben Bernanke yesterday got a little more testy with lenders, asking them to knock it off with the huge mortgages. Essentially:
"Hey you guys, I'm goin' crazy here cutting rates and you're off on a shopping binge. What gives?"
What gives is simple.
Investing in people with no value is risky.
It's tough when you're relying on people who by the ton say foolish things like "I thought we could pay back our loan with the increased value of our home, and, now, well, our home didn't go up like we thought and, ahem, the payments are more than the home is worth, so, well... there ya go."
The whole lot of them schlurping the dregs that they can, extracting value. It's all just human sacrifice, really. All of the World inhabitants doing it, from Great Lord Fed himself to the itty-bittiest debtor.
I speak a bit about it a bit more at my webzine, here.
"Hey you guys, I'm goin' crazy here cutting rates and you're off on a shopping binge. What gives?"
What gives is simple.
Investing in people with no value is risky.
It's tough when you're relying on people who by the ton say foolish things like "I thought we could pay back our loan with the increased value of our home, and, now, well, our home didn't go up like we thought and, ahem, the payments are more than the home is worth, so, well... there ya go."
The whole lot of them schlurping the dregs that they can, extracting value. It's all just human sacrifice, really. All of the World inhabitants doing it, from Great Lord Fed himself to the itty-bittiest debtor.
I speak a bit about it a bit more at my webzine, here.
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