Just Announced Fed To Buy 90% Of New Bonds, Over 20 Million Houses Still Siting Vacant Video
Even as U.S. government debt swells to more than $16 trillion, Treasuries and other dollar fixed- income securities will be in short supply next year as the Federal Reserve soaks up almost all the net new bonds.
The government will reduce net sales by $250 billion from the $1.2 trillion of bills, notes and bonds issued in fiscal 2012 ended Sept. 30, a survey of 18 primary dealers found.
At the same time, the Fed, in its efforts to boost growth, will add about $45 billion of Treasuries a month to the $40 billion in mortgage debt it’s purchasing, effectively absorbing about 90 percent of net new dollar-denominated fixed-income assets, according to JPMorgan Chase & Co. bloomberg news.
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$16,369,548,799,604.93
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( Debt Held by the Public vs. Intragovernmental Holdings )
Mortgage Rates
Consumers are also benefiting. The average interest rate on 30-year mortgages is a record low 3.31 percent, according to a weekly survey conducted by Freddie Mac.
Banks reported the most common rate for a 48-month new-car loan was 4.88 percent in August, the most recent reporting period. The rates were more than 7 percent in December 2008.
The Fed has pumped money into the financial system by purchasing more than $2.3 trillion of Treasuries and mortgage- related securities in three rounds of policy called quantitative easing.
The latest program announced Sept. 13 involves buying $40 billion a month in mortgage securities, and has no end date or fixed total amount.
A “number” of Fed officials said the central bank may need to expand its purchases next year, according to the minutes of the Federal Open Market Committee’s Oct. 23-24 meeting.
Bond traders predict policy makers will announce at their Dec. 11-12 meeting that they will make new Treasury purchases next year of about $42.9 billion a month, according to the average estimate of primary dealers surveyed by bloomberg news.
Real estate expert Fabian Calvo says there’s more to the story about rising prices in the housing market than what’s reported by the mainstream media.
Calvo charges, “There’s a tremendous amount of manipulation . . . Yes, prices have gone up 3%. I see it, but it’s because the inventory has been suppressed on purpose by big players . . . not foreclosing on properties.” Calvo should know because he runs a company called TheNoteHouse.us.
It buys and sells $100 million annually in distressed debt and real estate. Calvo says, “Over 20 million houses, on any given night in America, are completely sitting vacant.” According to Calvo, the economy is being helped by “shadow stimulus.”
It’s coming from millions of underwater homeowners who have stopped making mortgage payments. Calvo says, “Money that would have been otherwise allocated towards a housing payment is going into consumer spending.”
The Fed is also propping up housing by suppressing interest rates. Calvo says the fragile real estate market would crash if rates rose just a little, and he adds, “That’s why you’re going to see low interest rates . . . through 2015 or until there’s some kind of dollar or bond crisis.”
Join Greg Hunter as he goes One-on-One with Fabian Calvo.
Fiscal Cliff
The Congressional Budget Office said that failure to reach an agreement on the fiscal cliff may push the economy into a recession next year and boost unemployment to 9.1 percent in the fourth quarter of 2013, from 7.9 percent in October.
“You’ve got supply likely to come down and you’ve got demand strong,” Brett Wander, chief investment officer for fixed income in San Francisco at Charles Schwab Investment Management Inc., which oversees about $200 billion, said in a telephone interview Nov. 29. “Think of it like arrows acting like forces on an object. The supply arrow is pushing yields down and the demand arrow is pushing yields down at the moment.”
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Read more at:
http://www.bloomberg.com/news/2012-12-03/treasury-scarcity-to-grow-as-fed-buys-90-of-new-bonds.html
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Whistler Blowers, Insiders
Heck, have the Feds buy up 110% of the bonds and then we can all get a check instead of just the banksters!!!
The trouble is that the Fed doesn’t actually buy anything. It is just an accounting ploy. When the Fed can’t sell the bonds to the suckers overseas, it’s really the same as just printing money and throwing it out there. It diminishes the purchasing power of every dollar already in existence hence it is the same as if the Fed is robbing you while you sleep. In plain english, it is counterfeiting and this is how the 1% got to be the 1%.
I think 100% is fine for the sheeple, although your 110 i compellingi know what yoj mean, funny how the tards keep digging the debt hole deeper, and 2 think they r suppose to be the brightest leaders, rofl wait till they r strung up on the light poles lol
There are running up the debt to cause the final collapse of the Free Market system so they can install the Government ran consumer rationed economy that Pleases the Environmentalist Marxist Organization that Control the Government and the Financial Institutions .
i guess now its confirmed the dollar is dead. life support continues on 10% air 90% carbon monoxide.
once the air is all gone. we will all sufocate. an exponential curve means the last bit will happen very quickly. if we had 4 months left I would be surprised although im surprised we had this long. it looks like they want to crash everything all at once rather than draw it out. there wont be hyperinflation. just closed banks and dollar devalution by 95% on a sunday night.