US Government Nationalizes Home Market

30 Year mortgages see new low!

As the US government nationalized the home mortgage market the week has started with an abundance of mortgages available at rates not seen since last year. After bailing out Fannie Mae and Freddie Mac, absorbing close to 700 billion in outstanding bad mortgages onto the tax payers backs the newly government run corporations find they have an inside track on cheap money and virtually print at the expense of future generations diluting an already devalued dollar.

This is one of the reasons Barclays bank did not buy into the Lehman Bros deal. The US government is creating chaos in the banking industry as it competes in commercial markets. None of the banks will be able to compete with the government as it gives the money away with no intent to pay it back. They are doomed as are we who hold dollars.

As the government pays down the debts of homeowners and takes over ownership of the homes in America the bill is being passed to taxpayers and those who still cling to dollars as currency. Making easy money available to pay off inflated debts and following the same path as the falling banks followed