Out here in flyover country there appears to be a tug of war between the Titans, Bernanke and Obama with average Americans stuck in the middle.
Bernanke seems to ignore the inflationary hazard of monetizing the debt purchasing Treasuries, and mortgage backed securities by printing $85 billion monthly from thin air. This is known as QE4.
Combine QE4 with Bernanke’s ZIRP (zero interest rate policy) and we discover mortgage interest rates have fallen below 4 percent in only 15 months dating back to 1971. The preceding 15 months according to NAR President Gary Thomas.
Without these extraordinary...