House hunting in a 'fast-zombie' market

Obviously, no relief or reset has come from the exposure of title and mortgage fraud. It is unlikely (at this point) that any such thing will occur under current paradigm. Mortgage rates – despite the (alarmingly) rapid rise in Treasuries recently -- remain low compared to historical standards. As higher debt service load levels are untenable for the government, interest rates CANNOT be allowed to rises substantially (see PIMCO boss’s thoughts on the matter recently). Repealing the income tax credits for mortgage payments does not look imminent. Despite their zombified state, the government loan guarantees afforded by Freddy/Fannie are still around, exerting influence and buying up loans.

So how DOES one approach a house purchase with the knowledge of the above, but in light of the ongoing end of the G(reat)K(eynesian)E(xperiment)? What is the calculus for possible prospects under a variety of potential future scenarios?

A2A with Jim Quinn of

This week's A2A guest was Jim Quinn. 

Just To Make The Point

Not much to add this morning but I wanted to be sure you saw this important observation from last evening regarding the current delivery month.

Pension System Failure Is Guaranteed

Scary title, huh?  Surely, one must exhibit suspicion if not outright derision at the title of this post.  But, to prove it, one only need pay attention, because the facts are right out there in the open for all to see.
Who is Bill Gross?  The CIA official take on him–from Wikipedia–is here.
He is lauded as the “nation's most prominent bond investor.”

TFMR Podcast - Wednesday, October 2

Down one day, up the next as The Specs are led into and out of The Fleecing Shed. My, oh my. I wonder what will happen next?

Jim Willie Discusses The Bond Bubble

Last week, Jim Willie offered his opinions in a one hour Q&A session with subscribers. In return, today he offers a wide-ranging discussion on the current state of affairs, particularly QE∞ and the U.S. bond market bubble.

TFMR Podcast - Tuesday, October 1

Full of vim and vigor after correctly forecasting this early week selloff, today Turd tells you when he expects this current decline to end and predicts how the metals will trade for the balance of Q4.

The Pattern Re-Emerges

February, April and June were Comex delivery months that saw the price of gold get hammered. August was a delivery month that saw the price of gold rally. October is a delivery month and gold is getting hammered again. What's the difference? Do you really want to know or does all of this make YOU want to go get hammered?

Master of Illusion

No magician in history has successfully pulled-off a deception of the audacity and sheer scale that Ben Bernanke has. His trick has been so well performed, so brilliantly executed, that his entire worldwide audience is still largely unaware there was even a trick at all.

The Coming New Barbarism

Hugo Salinas-Price is a very successful businessman who has long been an advocate of sound money. Having seen first-hand the disastrous effects of fiat currency devaluation in his home country of Mexico, Mr. Salinas-Price has been tirelessly crusading for sound money principles for over thirty years.

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