The Daily Middle

“The artificial life support is low interest rates. If the Fed pulls the plug, this phony economy is going to die. Now, it needs to die unfortunately because we need to replace it with a viable economy, not the phony one that is living off the low interest rates. But that’s reality. Just look at the housing market; I’ve been watching a lot of analysts talk about the fact that, ‘we need to help refinance, we need to get homeowners to take advantage of these low interest rates to refinance their mortgages.’ Everybody focuses on the borrowers side of this exchange. Yes, the borrower gets to refinance, he gets to save money. But there are two sides to this equation. There’s the borrower and there’s the lender…”

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