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Let the Market Set Interest Rates!

Posted on | June 10, 2009 | 3 Comments


Make sure to use Subprime Blogger to get your Mortgage Rates Forecast as well as keeping up with Daily Mortgage Rates.  You could save a great deal of money by knowing where mortgage rates are going.

I promised a rant yesterday and today’s tirade is directed straight at President Obama and Ben Bernanke.  For many months now President Obama has said that credit is the  lifeblood of the economy.  Hmmm, are you sure?  I realize that during most of your lifetime you have seen an abundance of purchases on credit, but hasn’t the current crisis opened your eyes?  The reason we are in the current economic mess is because of credit yet you STILL think credit is the lifeblood of our economy. President Obama, America elected you on your platform of “change.”  Well, as much as things “change,” they stay exactly the same.  You continue to prop up companies that should go backrupt.  You continue to use tax payers money to bail out Wall Street and you are continuing to devalue the United States dollar.  Change?  If I can remember correctly, this was all blamed on the Bush administration.

Ok, ok, maybe it is not all the President’s fault, maybe some of the blame has to go to Fed Chairman Ben Bernanke.  In March, the prophetic (HAHA) Jim Cramer made the statement “In Bernanke I trust” when it was announced that the government was going to purchase over $1 Trillion in mortgage backed securities. Well, of course Jimmy Cramer was happy because he got to refinance his multi-million dollar mansion for a rate under 5%.  This is all find and dandy, but has ANYONE see the housing market recovery since this action?  We all know that mortgage rates dropped dramitcally but it was artificially created by the government’s purchases.  LET THE MARKET SET INTEREST RATES!  Wait, President Obama and Ben Bernanke disagree with free market capitalism, sorry about that!

Peter Schiff has a great interview on the Daily Show that I encourage all of you to watch.  Jim Rogers and Peter Schiff have been right for years and everyone has laughed at them.  Who is laughing now Wall Street?

Category: Interest Rate Predictions, housing market
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Comments

3 Responses to “Let the Market Set Interest Rates!”

  1. Subprime Blogger / Mortgage Rate Trends - Will Rates Go Higher In July?
    July 3rd, 2009 @ 2:16 pm

    [...] rates around, but eventually free market capitalism is going to work and the markets are going to set interest rates.  Sadly, if the government continues to try and intervene, we could see a sling shot effect in [...]

  2. Subprime Blogger / Notices of Default Continue to Rise
    July 14th, 2009 @ 4:55 pm

    [...] has not seen anything close to a bottom.  Eventually President Obama will realize that he should let the markets set interest rates.  This will increase mortgage rates but that will cause home prices to fall even further and just [...]

  3. The Financial Suite » Notices of Default Continue to Rise
    July 15th, 2009 @ 11:29 am

    [...] has not seen anything close to a bottom.  Eventually President Obama will realize that he should let the markets set interest rates.  This will increase mortgage rates but that will cause home prices to fall even further and just [...]

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