Agree. These bureaucrats seem to think that they can manipulate the economy by buying something and use it as collateral to sell something else, a true non-sensical shell game, to avoid true financial decision making. They forget that their "opponent" so to speak, the guy/gal on the other side of the chess board, is a business person/business owner who is a lot smarter and a lot better committed to maintaining/growing his/her wealth. They won't move in the direction you want them to go unless they see your commitment to their benefit, why else should they take more risk? Romney is much more likely to ask "what do you want?" And when the answer he gets is, as expected, "a more business-positive environment and set of decisions on your part," he's much more likely to close the deal and get this economy moving in a good direction again. He knows that, under those circumstances, his chess partners win, and then we are all better off. And, imo, all those who say "but then the rich win" should be immediately deported to Belarus, that's all
As far as I can tell from talking with people who try to buy commercial real estate in blocks... the banks have a ton of it on their books. Right now the whole banking system is insolvent by a wide margin. if the fed raised interest rates the principle of all that upside down collateral would be worth even less.... Making their member/owner banks even more insolvent. The fed is desperately engineering inflation. But they have found it very hard to push on the string. So they are going to push some more until they can fill up all that commerical space at old rates. Its a game of brinkmanship with our economy and standard of living.
Ricter has been eviscerated by his economic adversaries so many times. I'd think he'd at least consider modifying his views by now, even if only by a bit.
On inflation... "Gold posts 3.5 percent weekly drop on deflation fear" "(Reuters) - Gold rebounded on Friday after the last session's sell-off, but the precious metal was virtually flat for the year to date and posted a weekly drop of nearly 4 percent on deflation worries and a lack of aggressive Federal Reserve stimulus." Article continues: http://www.reuters.com/article/2012/06/22/us-markets-precious-idUSBRE85H0KJ20120622
my electricity, water and carne asada burrito, philly cheese, ny strip, burger or filet bill continues to skyrocket. this commercial does not even makes sense any more. there are 12 dollar burgers all around. <iframe width="420" height="315" src="http://www.youtube.com/embed/_VGs_rERsQ4" frameborder="0" allowfullscreen></iframe>
While standing at the urinal in a convenience store yesterday I noticed one of those coin operated condom machines. It takes a whole dollar to buy one now. I can remember when they were 50 cents. And it wasn't that many years ago. 100% inflation.