Your Money Down The Drain and Other Thoughts
With the US Government take over of Fannie Mae and Freddie Mac get ready for the printing presses to crank up just when some were thinking inflation was getting under control. Right now the figure of 100 Billion is being tossed around so just double or triple that and wait. Just so you know the REST OF THE STORY Fannie Mae and Freddie Mac will go away when your money finishes assisting people that bought homes that had no business buying them. Remember Fannie Mae and Freddie Mac bought paper from banks and mortgage companies to allow them to then loan more money. When they do go away there will be no one to sell their risk to and then money to loan will dry up. Next step; Get ready to have at least 25/30% to pay down to buy a home like it use to be. The housing industry will then fall back to pre-WWII. In case you wonder why this will happen just remember if you pay down and own enough of anything you will do everything you can to keep what you bought. It's coming.Oh, by the way. The reccession is not here yet. Stay tuned.
UPDATE: My estimate is very low. The estimate now is the cost could run as high as 6 TRILLION dollars. Yes that is trillion.
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