Holy Crxp! The Precious on a tear, new record $1270.00!!!
*Preccccious* up an astounding $22.90 right now to ANOTHER record of $1270.00.
It’s been a while, but you know what time it is…
We all know QE2 is coming. If housing takes another 20% hit, which it will, the TBTF are insolvent, again. (IMO :0>) Especially Wells and BofA who have all those HELOCS that are worthless if those homes go into foreclosure.
… JPMorgan Chase analysts lowered expectations of housing recovery in the next four years. Jon Daurio, chief executive at the distressed loan purchaser Kondaur Captial, warned that home prices could fall another 20% as well….
…Freddie Mac expects 4 million new and existing home sales in the third quarter, a possible 20.7% decline from last year and 23% drop from the previous quarter….
FD- We are BofA shareholders (NOT by choice, sadly we are holding the former Merrill shares, mom is very conservative and leery of letting them go). We have many, many posts here on the BofA/Merrill merger.
So, we should be seeing QE2, an ‘all new!’ HAMP or some sort, hopefully the MorganStanley 1 pg refi for CURRENT mortgage payors is in there someplace, nice to TRY TO PRETEND to avoid moral hazard once in a while boyz…
Also consider, we all HOPE and PRAY and WORK for a GOP sweep of House and Senate in less trhan 60 days (yay!), and this will put the brakes on Obamanomics to a large extent, BUT it will also stop fiscal stimulus from the Critters leaving Gentle Ben and his fear of Turning Japanese to step in. This in addition to Obama’s EXPORT plan, which I think is sadly misplaced has the USDollar tanking and GOLD rising as a result.
Another wild card is Chuckie Cheese Schumer, post election axx kicking, trying to grab some good vibes by launching a trade war with China which UNIONS want since Summers and Timmeh cannot get any results from our largest trading partner on the yuan peg.-again GOLD as safe haven/falling USD/helicopter Ben shelter as USD falls…
Anywho the precious knows what is coming and is ready for hit. This outs even sister Silver’s awesome performance in the shade.