Expanded Giveaways (Stimulus Spandex?)
I have a mountain of paperwork to get caught up on and I really have lost the will to write anything tonight anyway.
In a preview that should be noted by many across the financial world (you know who you are) the home buyer tax credit looks like it will be not only renewed, but aggressively expanded come Friday.
Democrats Agree to Extend Home-Buyer Tax Credit: Dodd
Senate Close to Deal Replacing Homebuyer Tax Credit
This is a disgusting and craven move by the US Congress after heavy pressure was exerted on them by the housing industry lobby.
The tax credit has already been shown to be full of fraud, wildly expensive, and not very effective. Never fear, it goes on and gets bigger.
I would like to point out the following programs that will be seeing expansion and/or renewal over the next 6 months:
-Quantitative Easing 2.0
-MBS Purchase Reload
-Cash for any Clunker (Cars, boats, ovens, alarm clocks)
Now get out there and buy US debt this week world! We are good for it!
Have a good night.