The Federal Reserve fulfilled expectations of more stimulus for the faltering economy, taking aim now at driving down mortgage rates.
The Fed said it will buy $40 billion of mortgages per month in an attempt to foster a nascent recovery in the real estate market.http://www.cnbc.com/id/49018964Here's my problem with the above statement.
U.S. rates on fixed mortgages changed little this week and remained slightly above record lows reached earlier this year. The low rates have aided a modest housing recovery.http://bottomline.nbcnews.com/_news/2012/09/06/13708162-mortgage-rates-still-hanging-near-historic-lows?liteOh well, the move pumps the stock market & gold.
Also, according the the U.S. Census Bureau I'm on the correct side of the wealth gap which is at its widest since 1967.
http://www.bloomberg.com/news/2012-09-12/u-s-poverty-rate-stays-at-almost-two-decade-high-income-falls.htmlWhy am I voting against my best interests. ;)
Wine is sunlight, held together by water - Galileo Galilei
Un jour sans vin est comme un jour sans soleil - Louis Pasteur
Water separates the people of the world; wine unites them - anonymous
Wine is the most civilized thing in the world - Ernest Hemingway
Wine makes daily living easier, less hurried, with fewer tensions and more tolerance - Benjamin Franklin
