May

6

"Credit Supply on the Housing Boom":

"An expansion in credit supply was the fundamental driver of the surge in household debt and that borrowing against the increased value of real estate accounts for a significant fraction of this build-up in debt."

anonymous writes:

And it was prefaced by a fed rate hiking cycle in 2004 where financial market conditions did not tighten, but in fact, loosened significantly. Yellen's comments this morning seem to support the idea of a "yellen collar" on equities, while the recent sell-off in bond prices seems to also fit nicely with her master plan.


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