David Stockman

The Wall Street Home Buying Binge Is Over….Already!

It seems like only yesterday I was lamenting the arrival of housing bubble 2.0 and the Fed’s nefarious policy of distributing ZERO-COGS (i.e. nearly zero short-term  borrowing costs) to Wall Street speculators— which had then swooped into busted housing markets from Phoenix to Florida looking for the next big carry trade. This stampede of $5,000 suits riding John Deere lawnmowers…