What are those lyrics, the end of the world as we know it.
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Definition of a 'rock 'n a hard spot'.
Renegotiated debt = depression
Uncontrolled govt spending = depression.
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Errol you should add --Return to "normal" interest rates = depression
Its very apparent that the interest rate spike in '81 isn't a memory for many on this board.
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Happytrails . . . CNBC release: Panic in the Housing Market as 30 year Mortgage Rates Pushed to 4%.
http://www.cnbc.com/2016/11/14/trump-effect-pushes-mortgage-rates-to-4.html
Early 1980s mortgage rates peaked between 18 to 20%. And 4% now is enough to knock the U.S. housing market off-its-rails.
How far is the fall? . . . .
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Originally posted by errolanderson View PostHappytrails . . . CNBC release: Panic in the Housing Market as 30 year Mortgage Rates Pushed to 4%.
http://www.cnbc.com/2016/11/14/trump-effect-pushes-mortgage-rates-to-4.html
Early 1980s mortgage rates peaked between 18 to 20%. And 4% now is enough to knock the U.S. housing market off-its-rails.
How far is the fall? . . . .
Bring it on....
Be lots of "opportunities" if what you keep saying will happen actually happens.
Then again the sun will still come up and and go down either way. 🙂
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Ok here's the deal in my eyes fwiw. Rates were not adjusted when the DJ dropped, so they have to go up when it rises. There's a metric shit ton of correlation between rising DJ and rates. And if you believe rates are only for the rich ask someone with a pension......
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Talked to my banker today, they have no concerns that rates will rise in the foreseeable future, and usually the bankers are the ones crying that rates will rise, lock in now, at least for as long as I can remember. ( of course, that might say a lot about their prognostication abilities).
I am of the camp that rates, not only won't, but can't be purposely raised, but when they do, it won't be voluntarily, it will be big, and it will signal the end of this grand economic experiment is imminent. So it really won't matter for long.
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