Fed

Madness

New York Fed chief Dudley has an idea — homeowners should tap into equity

Increased consumption would be ‘positive development,’ Dudley says

New York Fed President William Dudley on Tuesday encouraged homeowners to find “prudent” ways to tap into the equity that has built up in the homes, saying the boost in consumption would be a welcome shot-in-the-arm to the economy.

 DYI:

Any wonder I place the number one goal of ending the Fed?  To advocate for short term gain and long term stress to our economy by having our citizens ABUSE their largest asset – their home – to a degree of moral degradation. Borrowing out of dollars for a conservative investment is one thing but to go out and purchase consumption items with debt is absolutely insane.  Of course if you are a banker this will increase their profits as our citizens pay interest on those debts.  So….Does William Dudley have a conflict of interest (great pun!)?  Well let me think!  HELL YES!  Down the road when the banks get into financial trouble the Fed’s will bail them out.  Heads they win tails you lose.  Don’t buy the load full of future trouble he’s selling.

 DYI