The “Benefits” of Deflation! 30-Year Mortgage Rate Are Headed Towards 3%

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Subject:	The "Benefits" of Deflation! 30-Year Mortgage Rate Are Headed Towards 3%
Date:	Thu, 12 Aug 2010 08:25:59 -0700
From:	Jas Jain

The "Benefits" of Deflation! 30-Year Mortgage Rate Are Headed Towards 3%

For some 22 years many friends have asked me about where the mortgage rates are headed, so that they could decide whether to get a 5-year, or 7-year, or a short-term, mortgage and my answer, as befitting my middle name "Broken Clock," has always been that the mortgage rates are headed lower. The accompanying chart, courtesy of Calculated Risk blog, attests to the insight I have head when it comes to the long-term US Treasuries. A slow-motion deflationary depression has been in the making for the past dozen years and now it is ripe for acceleration. Postponing the depression has only made it worse for the future to come. The "benefit," of course, is very low rates on long-term US Treasury bonds and heading lower. Nothing can stop the American economy from the Greater Depression, thanks to the Crooks' agents like Ben Fraud Bernanke that have gotten the power to manipulate the American economy for the benefit of the Crooks. There has rarely been such an obvious case of pure fraud as Bernanke. Greenspan was somewhat more sophisticated case of fraud. The system of the Crooks in operation—only reliable fraudsters get be the Fed Chairman.

Jas

 
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