Friday, February 26, 2016

There is not a snowballs chance in hell this will happen.

"U.S. consumer spending rose solidly in January and underlying inflation picked up by the most in four years, keeping Federal Reserve interest rate increases on the table this year. " Source.

I think it was two days ago I was able to find an interest rate at 3.408%. So almost 3.41%. This is a low not seen since probably 2013ish. Today things are back up to around 3.53%ish.

I've been doing a wait and see on the economy for a couple of weeks because the dollar did weaken about 5 cents this month.  It's done that 4 times in the past year, so you had to see if this was something. Or nothing. It looks like it was nothing because the dollar is back up to 98.16. Chart here.

The Fed is the dollars bitch and they have no control over this. The rest of the world is extremely weak and we are the best shitty horse in the shitty horse barn. On the bright side?! The Yuan has a snowballs chance in hell of being a reserve currency now. No one wants to own the Yuan.

And oh BTW what did we get for such low interest rates?

Ouch! New home sales fall sharply in January.

Mortgage applications down 4.3%; refinancing falls

Really? You can't gain any traction with interest rates sitting in the 3.50% range? Not even refis?Ridiculous. Most of the people under water must have already gotten through that door.

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