Has Deflation Arrived? – Stocks fell and treasuries soared today after Ben Bernanke called the economic outlook "unusually uncertain". … The bond market is basically telling us that we are about to see a Japanese style deflationary collapse. … – The Housing Time Bomb [...]

[Read more →]

Morning Color [...]

[Read more →]

Someone told me, “There are three stages in a man’s life: Tri-Weekly, Try Weekly and Try Weakly.” At this point, banks are not shut down three times a week – yet – but only once a week and on Friday’s. Another handful of banks were shut down on Friday, pushing the number over 100 for [...]

[Read more →]

To Our Clients, Colleagues and Friends,

One of these days, maybe one of these years, interest rates will move up and mortgages will go from 4.5% to 5.5%, maybe even 6-7%.   How much do you think loan volume will drop? If you’ve been around for a few cycles, you might guess 40-50% and we think you’d [...]

[Read more →]