- Joined
- Jan 28, 2012
- Messages
- 16,386
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- Independent
'New York Fed President William Dudley on Tuesday encouraged homeowners to find “prudent” ways to tap into the equity that has built up in the homes, saying the boost in consumption would be a welcome shot-in-the-arm to the economy.
...
“Whatever the timing, a return to a reasonable pattern of home equity extraction would be a positive development for retailers, and would provide a boost to economic growth,” Dudley said.'
New York Fed chief Dudley has an idea — homeowners should tap into equity - MarketWatch
This is another example of how utterly clueless the Federal Reserve is.
One of their own is encouraging people to go down the same path that got them into SO much trouble during the housing boom/bust. To use their houses as ATM's again. To go deeper into debt just to buy stuff to help the economy.
This dunderhead wants people who are finally getting their heads back above water, to go and dive deep into the debt pool again. Just so they can prop up the economy for a little while (on the back's of homeowner's now) so that the Fed looks good and can finally raise rates like it has been dying to do for years - but the economy has been to lousy for them to dare.
What a complete and total maroon.
This is what I am talking about. This guy is a Fed dude, he has degrees from great school's up his you-know-what - and he is still as dumb as a friggin' post.
The Fed is FULL of macroeconomic ignoramuses.
...
“Whatever the timing, a return to a reasonable pattern of home equity extraction would be a positive development for retailers, and would provide a boost to economic growth,” Dudley said.'
New York Fed chief Dudley has an idea — homeowners should tap into equity - MarketWatch
This is another example of how utterly clueless the Federal Reserve is.
One of their own is encouraging people to go down the same path that got them into SO much trouble during the housing boom/bust. To use their houses as ATM's again. To go deeper into debt just to buy stuff to help the economy.
This dunderhead wants people who are finally getting their heads back above water, to go and dive deep into the debt pool again. Just so they can prop up the economy for a little while (on the back's of homeowner's now) so that the Fed looks good and can finally raise rates like it has been dying to do for years - but the economy has been to lousy for them to dare.
What a complete and total maroon.
This is what I am talking about. This guy is a Fed dude, he has degrees from great school's up his you-know-what - and he is still as dumb as a friggin' post.
The Fed is FULL of macroeconomic ignoramuses.
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