In Jeopardy: U.S.’ “Punch Bowl” Privileges The job of the Fed is to take away the punchbowl just as the party gets going. –former Federal Reserve Chairman William McChesney Martin What if the Fed won’t take the punch bowl away? Or can’t? Indeed, what if official U.S. policy is to keep replenishing the punch bowl...Read More
“Geithner Says China Has Faith in U.S.” –headline, The New York Times (6/3/09) [Editor’s Note: Sorry, I’m on a China kick — just one more in that vein. And yes, it does bear on real estate. In fact, whether China keeps buying U.S. debt — and therefore whether mortgage rates stay low — is probably...Read More
