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« ISM Update: Steve Liesman Gets it Right | Main | Looking Forward on Inflation »

December 01, 2006

Comments

oldprof

Hi Muckdog -

I'm not sure how much the Fed targets what we identify as bubbles. I would think that more of it would leak out into the written material of those who have retired.

But you may be right. If so, they have managed to pressure those with ARM's and the like, while it is still possible to switch to a fixed rate mortgage at an attractive level. Since those rates are more geared to the ten-year, I guess we have the Chinese to thank!

oldprof

John -- Thanks for your comment. We try hard both to be objective and to find the best evidence for any conclusion.

To us, that means reading a wide range of material, studying evidence, and figuring out who makes sense. Some commentators aim for "debating" points, sounding persuasive with some good stories. The best thinkers are not always the best presenters...

muckdog

I think the Fed was intentionally ending the housing bubble, and that's why they raised rates as far as they did. They could've stopped in the 4's as far as the economy goes, and have certainly risked something more than a slowdown and soft landing. But they definitely did kill the housing bubble.

john w

Thank you, not only for your "dash of insight" but also for your objectivity and obvious wisdom.

I stopped reading Ritholz and Cara and the rest of their ilk when I realized that they were costing me money.

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