The Fed: "What We're Doing Isn't Working. Let's Do More Of It."

By
Mortgage and Lending with SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) NMLS 223495

Fed to maintain record stimulus: Mike in Tucson, AZ mortgage lender

"It didn't work the first time...  It didn't work the second time...  What the heck?  Let's do it some more."

(Click the photo for the whole story from Bloomberg News)

Let's see...  We printed an aircraft carrier full of money to stimulate the economy.  It didn't do what we forecast it would do, and the economy is still in the tank.

Hey!  I have an idea.  Let's do more of what didn't work, and see if we get a different result...

When you're in a hole, and you realize it's getting deeper, the right thing to do is to stop digging!  But that's just my opinion...

Will this help you (as an agent) sell more houses?  I don't think so...

_____________________

I'm Mike in Tucson, your preferred Tucson Arizona Mortgage Lender.

NMLS #223495

SUNSTREET MORTGAGE LLC ~ Correspondent Mortgage Bank
Offices in Mesa, Tucson, Sierra Vista & Nogales

 

 

Comments (7)

David Saks
(retired) - Memphis, TN

Look at what printing an aircraft full of money did to Germany in 1930.

Jun 22, 2011 09:56 AM
Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495

David,

It's interesting that with all the Czars in the administration, they never appointed a History Czar.

Mike in Tucson

Jun 22, 2011 12:11 PM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Mike

May be the administration needs a good history lesson?

Good luck and success.

Lou Ludwig

Jun 22, 2011 12:31 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Mike, things are out of control and the only way to get them back into control is to vote out those who keep on making the bad decision, and putting people in the position to further make bad decisions.

Jun 22, 2011 02:44 PM
Donald Reich
Prudential Centennial - New Rochelle, NY

Maybe our next president will be born in the USA? ( Just kidding )

Jun 22, 2011 02:47 PM
Ann Heitland
Retired from RE/MAX Peak Properties - Flagstaff, AZ
Retired from Flagstaff Real Estate Sales

For more than two decades, largely under Republican presidents, we've been on a binge of tax cuts both at the national and state levels. As a result our infrastructure is falling apart and our kids are getting some of the worst education in the world. We do seem to find money for prisons, but apparently in such crowded conditions that our courts are beginning to declare them unfit.

Where I grew up, a balance sheet had two sides to it and I was taught my obligation was to work on both: control costs but also improve revenue to cover necessary expenses. Why don't the fanatics think of government in the same way -- they only talk about cuts?

I agree that it's time to stop doing what we've been doing. Let's start by ceasing to pick favorities in the energy field -- eliminate oil and gas tax credits. Then let's take the cap off the payroll tax (and temporarily remove it for those with incomes below $20,000 - -both employer and employee side). Let's take the war spending and bring it home for education and rebuilding bridges.

Does this sound like bombing the moon? http://www.washingtonpost.com/blogs/ezra-klein/post/wonkbook-how-could-taxes-blow-up-debt-talks/2011/06/24/AGAUxniH_blog.html

Jun 24, 2011 04:09 AM
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

You know, I get so disgusted at the situation in our government. My Father, rest his soul, used to say that it is amazing in a nation this size we can't find some people REALLY interested in making the system work for EVERYBODY.............he also said he would NEVER re-elect ANYBODY and that ALL of congress needed term limits................ONE TERM NO MATTER WHAT! I think he had a point there! The fat cats get fatter the longer they stay in!

Jun 27, 2011 01:40 AM

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