Tondar's Daily Rant

Prepare yourself for the writings of Tondar the Destroyer, Baron of Atlanta, Rightful Heir to the Throne of Spain, from whom all babies come. As his will be blogged, so let it be done.

Tuesday, April 08, 2008

BUONA NOTTE AL SECCHIO



In the words of Ed Grimley, "We're as doomed as doomed can be." The biggest problem with the economy is that the Fed is using the same poison that got us into this mess to cure it. In case you haven't seen the news, the major banks are getting a helping hand from the government. Of course it remains to be seen what their deal with the devil will cost, but the fact remains that fiat money is still the order of the day, and so we shall all pretend that it's business as usual.

So what exactly does that mean? It means NOW is the time to be buying property. The Fed has moved interest rates to a ridiculous low. The banks are feeling more secure now that their friends in Washington have their backs regardless of how foolish they have been or will be.

(WHICH BY THE WAY, the Democrats seem to have a much better grasp on the economic situation these days. They understand that much of the blame can be placed on Wall Street greed and the lending institutions. However, where they drop the ball is their insistence on supporting the victimhood of the proletariat masses. The same stupid masses that thought they could get 100% financing with a credit score of 600 and then blame predatory lending because their greedy dumbasses signed a Prepayment Rider and an Adjustable Rate Rider to get a mortgage they could never pay.)

But anyways my friends, you need to make your purchase by early summer. Right now buyers and sellers have talked themselves into a mini-depression so nothing is moving. You couple this with the fast and loose methods of the Fed, and it is a hot time to strike. If you wait, bargain hunters will have begun to heat up the real estate market. Plus, with a deepening disaster of fiat money (lowered interest rates leading to inflation), we will probably see a tightening of money. This will be caused by the banks realizing that they don't have the money to lend anymore, or the less likely case that the Fed realizes that they have helped to cook up a Jimmy Carter specialty dish known as stagflation.

So when the stagflation hits, that will be the signal to have a serious discussion about George W. Bush being the worst President ever. But before that Tondar says drop what you're doing, pick up your phone and scream "Buy! Buy! Buy!"

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