A rout in the hyper-inflated bond market can blow up everything at this point.
Interest rates don’t have to be negative to make a mess in the era of “Secular Stagnation.”
Now they’re clamoring for the NIRP absurdity in the US. How will this end?
Here we go again: Cash-out refi hype is back full-blast, and for the first time since early 2006, people are doing it in large numbers
Suddenly – I mean the signs had been everywhere for a long time and “suddenly” doesn’t really apply – the whole house of cards came tumbling down.
In the US alone, it impacts nearly $40 trillion. And there are consequences for the real economy.
Beatings will continue until morale improves, or something.
Oh, it’s here alright.
OK, so we have a phenomenon here that has taken on historically huge proportions in the era of the Everything Bubble.
The Fed has already accomplished more with its verbiage this year than it had last time when it cut rates all the way to zero and did trillions of dollars of QE.