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Remembering The Basics


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FNM says its mortgage portfolio is declining.

 

Business volumes continued to shrink, with November's total standing at $75.2 billion compared with $100.3 billion in October. Outstanding mortgage-backed securities grew at an annual rate of 26.8%.

 

But Fannie Mae's mortgage portfolio declined at a 7.9% annualized rate, and the company said it expects its portfolio to shrink in the fourth quarter. However, in the year to Nov. 30, portfolio growth was 15.5%.

 

The dynamics of credit bubble implosion are now operative. After reviewing Doc?s latest Feed summary, it?s clearer than ever the money supply will continue to drop ? or at least stagnate (barring some unusual new wave of credit).

 

Probably the best hope for the re-expansion of the credit bubble is some new type of inflationary scare that will encourage individuals and businesses to increase their credit borrowings. However I don?t see how that will succeed.

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And they said they didn't ring a bell at the top. Seems to me that one may have rung at about 9:30 EDT. Or maybe that was the one that said it was time to pop Osama out of the oven. Notice how gold has crashed, the dollar has shot to the moon and the 10 year yield is diving........not. :lol:

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