An App Acronym That Captures the Zeitgeist OK, so the term is easily confused — at least by someone with dyslexia — for another, not-so-nice acronym (“MOFO” — look it up). And the new app designed to exploit “FOMO” (Fear of Missing Out) targets insecure, 20-something social climbers (called “CouchCache,” it lets users give others...Read More
Double-Standard? And How! If the U.S. government handled the housing crisis the same way it treated Wall Street after the 2008 financial crash (emphasis on “treat”), here’s what would have happened: 1. It would long ago have purchased — at inflated cost(!) — the homes of every underwater homeowner in the country; 2. It would then...Read More
One Step Forward, Two Steps Back? What do the 2010 home buyer tax credits have to do with today’s stock market? After producing a huge spike — actually two, due to the initial credit being extended and expanded — the housing market resumed its swoon. With a vengance: the second half of 2010 and well into...Read More
Pop quiz: the consensus among mortgage lenders is that Hurricane Sandy will have the following effect on mortgage rates: A. Up. B. Down. C. No change. Answer: C. That opinion seems to be based on two factors: 1) Hurricane Katrina’s negligible effect on interest rates in 2005; 2) the Fed’s commitment to keep rates low...Read More
iPhone 5 as Economic Stimulus (Note the Multiplier Effect) So, there appears to be a debate these days about whether the debut of Apple’s much-anticipated iPhone 5 can do what the Federal Reserve cannot: provide a genuine stimulus to the U.S. (if not) global economy. Put me squarely in the “affirmative” camp. That’s because cumulative...Read More
Will He or Won’t He QE III?? If you’re going to spend 5 minutes watching the markets today — personally, I can think of better uses of my time — the interval to watch is definitely 1:16 p.m to 1:21 p.m. Why’s that? Because Fed Reserve Chairman Ben Bernanke starts speaking at 1:15 p.m. today regarding...Read More
