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Oh please. The Country needs jobs, this helps and will continue to help til no longer needed. Now if we can get the do nothings in Congress out of the way, Congress could help.
This will do nothing but create a run on commodities and blow up a bubble in stocks...
There is one sector of US manufacturing that's been booming all through this nightmare, GUNS AND AMMO sales will continue to surge...
The Fed is supposed to keep some control on inflation and unemployment. If you look at the history of those things prior to and after the Fed, you may get a bit of appreciation for it's worth.
Look at how inflation, the hidden tax, has eroded the value of the dollar since the 1970s. How can you appreciate that? The Fed has failed in everything they said they would accomplish, and yet somehow they always get to do whatevery they want without approval from elected officials. The whole setup is unconstitutional.
1 - the criteria for somebody to qualify for a home loan are much more stringent.....if you don't put down 20% you are still going to be nailed with points. This isn't about getting people affordable homes...it's still a shakedown. The only thing that has changed is the actual prices of the homes are lower. I moved to NC about 2 years ago...so getting a house here was nothing as it was dirt cheap. But if I were back in NJ, houses are still very expensive and taxes are ridiculous.
2 - It isn't just the price of milk going up $.75
20% down dounds about right to me.
35K home is not cheap enough for you? No, the prices are cheap enough, and driving them further down is a pretty bad idea.
The Bernank has just bought a re-appointment from Obama by taking this unprecedented action 53 days before the election. This action confirms the failed Obama economy. How will it help the middle class?
1. Mortgage rates are at historical lows. Lowering them a little further will do nothing.
2. The stock market will go up for a short time helping mostly the rich.
3. The value of the dollar will drop, increasing the prices for fuel, food and other commodities.
4. The action could lead to Obama's re-election, hurting the economy even more.
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