The Mortgage Bubble - Just the Facts
Culture, Economics, Future(s)
Rates are already very low and are not playing much part in the credit crunch that is strangling the economy.
Investors should know that the Fed still has plenty of ways to stimulate the economy, even with rates near or at zero, economists said.
The bottom line on Fed policy is supply of money. The Fed typically targets the price of money, but, with the price so low, it will focus on increasing the quantity of money through its balance sheet.
Vince Reinhart, a former senior Fed staffer who is now at the American Enterprise Institute, said the Fed will make a promise in its policy statement "to use the balance sheet to help foster economic recovery and better-functioning markets."
The unlicensed pipe fitter known as Joe the Plumber is out with a book this month, just as the last seconds on his 15 minutes are slipping away. I have a question for Joe: Do you want me to fix your leaky toilet?
I didn’t think so. And I don’t want you writing books. Not when too many good novelists remain unpublished. Not when too many extraordinary histories remain unread. Not when too many riveting memoirs are kicked back at authors after 10 years of toil. Not when voices in Iran, North Korea or China struggle to get past a censor’s gate.
Joe, a k a Samuel J. Wurzelbacher, was no good as a citizen, having failed to pay his full share of taxes, no good as a plumber, not being fully credentialed, and not even any good as a faux American icon. Who could forget poor John McCain at his most befuddled, calling out for his working-class surrogate on a day when Joe stiffed him.
"For the others — you friends of celebrities penning cookbooks, you train wrecks just out of rehab, you politicians with an agent but no talent — stop soaking up precious advance money.
I know: publishers say they print garbage so that real literature, which seldom makes any money, can find its way into print. True, to a point. But some of them print garbage so they can buy more garbage."
Those waits already are long for many Portland patients, especially those with Medicare or Medicaid health insurance. Those providers don’t reimburse physicians at as high a rate as most private insurers.
About 45 percent of all Oregon physicians won’t even take new Medicare patients, according to McMullan. With a glut of patients and a lack of internists, McMullan says, they have begun rejecting the patients whose insurance won’t reimburse them as well.