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Will Obama’s Stimulus Ultimately Harm the Economy?
Could the massive Obama stimulus plan end up hurting the U.S. economy?
It’s long been a worry, and now it’s beginning to seem possible.
The latest housing reports suggest that the recent rapid run-up in 10-year Treasury bond yields may be having an unhealthy effect on the U.S. housing market. That tells me that – although home prices are back to their long-term average in terms of earnings – we may not yet be close to the price bottom.
If that’s true, it’s very bad news. A further substantial decline in housing prices would destabilize the U.S. banking system again, because of all…
30May2009 | Money Morning | 0 comments | Continued
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