Krugman: Mortgage Rates Still Too High
Despite having come down considerably in recent weeks, mortgage rates are still too high, says Paul Krugman in a recent blog post. Why too high? Well, the spread between 30-year mortgages and 10-year Treasurys historically is around 150 basis points. And now? About 300 bips. Krugman’s prescription: “Declare that Fannie and Freddie are backed by…
Despite having come down considerably in recent weeks, mortgage rates are still too high, says Paul Krugman in a recent blog post. Why too high? Well, the spread between 30-year mortgages and 10-year Treasurys historically is around 150 basis points. And now? About 300 bips. Krugman’s prescription: “Declare that Fannie and Freddie are backed by full faith and credit, and if that doesn’t work, have the Treasury borrow on their behalf.”
“Hi Cobblehiller I hope you are having a holiday season.
I need more coffee.”
Hey What! I’m having a very nice mellow holiday season with a few friends and family around and little work thrown in to ‘sober me up’ some! ; )
Hope you’re having a good holiday – Happy New year to you – I know you’re looking forward to 2009!
Pierre;
I am not going to engage you in a political debate, as I find the internet not conducive to reasoned arguments concerning politics. My issue with you is your distortion ofthe facts, as such:
-I am not going to get into an argument about the degree of calamity. My issue is with your characterization of that period as one of “peace”. In addition to the incidents I have already cited, there was the two wars in Bosnia and Kosovo, which basically involved carpet-bombing these places back to the Stone Age. I do not think the people who lived in these counties, nor the Americans killed in the Al-Quaeda incidents would characterize this period as “peace”.
–The dot-com implosion in 2000 wiped out 75% of the value of the NASDAQ. The Dow Jones slipped from about 12000 to 8000. You may characterize this as “prosperity” if you wish. As someone who worked in the telecom industry during that time, and saw the damage first-hand, I would not.
You state that your use of “we” statements imparts some modesty to them. I’ll let folks judge that for themselves. As far as myself, my modesty dictates that I only speak for myself. It also requires that I try to distinguish between fact and opinion.
BrooklynLove, the Amazon results run counter to What’s world view, so don’t expect an answer.
What – how did Amazon do this X-mas season?
so when treasury bubble pops where does all that cash go? gold? i doubt it.
blessing in the madoff thing is that it’ll get rid of the wealth wasting fund of funds industry. no more people lining up to pay someone to pick someone else to manage money. all those fees are going back where they came from via madoff litigation settlements.
Still here What…and still here in 2009. I bet you aren’t selling much real estate these days!!!!!
What are you going to live on in 2009?? Government cheese handouts!!!!
“Linus, as in Charlie Brown and Linus, I think…”
Hi Cobblehiller I hope you are having a holiday season.
I need more coffee..
The What
Someday this war is gonna end…
Linus, as in Charlie Brown and Linus, I think…
“Who’s Lunus???”
Hiya Dave!! Say Asshat! How is those Redemption Requests going? I know your phone is ringing off the hook because Hanukkah is over. I think the West Palm Beach crowd want their money back! You boy Madoff went dry up in the Asshat crowd! No grease just Ass-pound fun and guess what Dave? You will be unemployed in about 8 weeks after the Obama bounce!
I would to see the look on the Asshats face when they read those statements!
You know something Dave 2009 is going to be so much fun! I wont have to “Cut and Paste” because the implosion of the Mutant Asset Bubble will be on 24/7!
Now little boy boy run along and process those requests…..
The What (But… But.. They told me that it was a safe investment…)
Someday this war is gonna end…
Very well Benson we will love being the spokesperson for the Clintons.
Peace: are you suggesting that the two disastrous wars we are stuck with are equivalent in calamity and unrest to the ’93 WTC attacks, the USS Cole, and the two embassies in Africa? I hope not for the overwhelming American population will take those same Clinton years any day as illustrated by the historically dismal approval of Bush and his legacy.
Again those 8 years under Clinton were relatively peaceful. What we’ve been thru in these Bush years is absolute foolishness from foreign policy, economic, or national security standpoint.
Prosperity: the dot com implosion is the reason for this current disaster? Nonsense dude. The NASDAQ had already took a massive nose dive and recapitulated years before this current debacle. Greenspan made mistakes but the current leadership just sat around and compounded it by their silly deregulation and laissez faire techniques. Our people are much poorer today than in 1992 to 2000 with currency correction, no? Maybe you should subscribe to some non political cable shows.
By the way we will NOT stop the “we” statements. It is just a matter of preference and confers a slight measure of modesty even if you don’t appreciate it.