The last time our Government tried to ‘MONITIZE’ the National Debt was when Jimmy C got the Ugly Stick from, Gerald Ford who got it from, Richard Nixon (who TRIED price controls – did not work out well) who got it from LBJ…as a result of the GREAT SOCIETY!!!
SEE HOW OLD I AM?
The financial blogs this week are speculating on two things.
1) HUGE! Price inflation of Commodities such as Oil, Food and Energy (not counted in the CPI) (I’m not making that up…the CPI does’t count the stuff that inflates in the “inflation rate” since doing that KILLED Carter’s presidency – well, that and the handling of the Hostages, Gas Crisis, Energy problems…not enough space for this discussion here…).
2) The Municipal Bond Market crashing due to that TERRIBLE Meridith Whitney…who exposed the Emperor with Nudie habits…like SPENDING WAY TOO MUCH LIKE A DRUNKEN SAILOR WITH HIS BUDDY’S WALLET! (I apologize to all of the Drunken Sailors who read my blog…I didn’t mean anything by it…honest)
There have been NO fixed interest rate loans for Apartment Buildings or Commercial since 2008…so they’re already Scre&#d when the rates rise. Look for more defaults in apartment properties which are on the verge due to unemployment.
Anyway! Get ready for the House Interest Rates to Head NORTH!