Mortgages gonna get real cheap now, enabling lots of home equity release.
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Yeah, but the access to mortgages won’t expand. It’s not about cost of capital but access to it.
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They’re going to have to cover individual household balance sheets, go negative, and print ~$4Tn more to sustain the lower end of the food chain: https://mailchi.mp/fed5cdb50bbc/marginal-markets …
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Wondering if this is a kind of cry for help - "We're officially out of bullets. Plan accordingly."
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status quo uber alles
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class warfare my dude
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