Mortgage Boycotts Are Growing
"financial risks often break out in a concentrated way in certain regions, but they are unlikely to extend into large-scale systematic risks."
So the crisis has been "contained", eh? -- LOL
That's the reassurance that is being given.
Note that I do not say that it is very reassuring.
Yeah, I remember assurances like that being given here in late 2007 and early 2008. :)
Hell, have you listened to Jay Powell or Raphael Bostic lately? They're giving pretty much those same reassurances on inflation now.
Tom Barkin of the Richmond Fed devoted a whole speech to that effect back in June.
Let's just say I'm skeptical....
"financial risks often break out in a concentrated way in certain regions, but they are unlikely to extend into large-scale systematic risks."
So the crisis has been "contained", eh? -- LOL
That's the reassurance that is being given.
Note that I do not say that it is very reassuring.
Yeah, I remember assurances like that being given here in late 2007 and early 2008. :)
Hell, have you listened to Jay Powell or Raphael Bostic lately? They're giving pretty much those same reassurances on inflation now.
Tom Barkin of the Richmond Fed devoted a whole speech to that effect back in June.
Let's just say I'm skeptical....