The Ouroboros
Moving from spending like a banana republic to inflating like one.
Do you have any last words you'd like to share with the audience?
“Be careful. Be very very careful.”
Case-Shiller: National House Price Index Up 3.4% year-over-year in March
FHFA House Price Index Down 0.1% in March LOL
Sorry kids!
Good real estate podcast with Todd Sachs: Why Haven't Foreclosures Spiked, Are Taxpayers Footing the Bill?
"The four years of Joe Biden in housing were the most bizarre I've ever seen in my professional career. We were surrounded by incompetence.”
May 2020
What a remarkable period of insanity we’ve gone through (with more to come!)
“Dude, if you pay attention to Japan, JGB [40 year] yields are up over 3% now. It's checkmate. They're insolvent. This is the trade that Kyle Bass was trying to put on in 2008 when he was buying CDS on Japan, and it just didn't work for like 15 years. Now it's finally starting to work.”
“These politicians - it’s like they’re in a perpetual job interview…I hate the idea that we have representatives that are in office, and their main objective is setting up their future roles in employment, and not their constituents and the community that they’re supposed to represent.”
I currently am annoyingly sick with the crud, so I think this one’s ready to rip. Some good stuff below for the good people. Charles Calomiris, Greg Weldon, Jim Bianco, Chris Whalen, Zbigniew Brzezinski and more.
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