Japan Q4 GDP: -12.7%

[scriabinop23]

Quote from trader_arb:

Why should they though? With unemployment climbing, the only thing they can do is artificially prop up home prices. This would probably be in the form of some sort of mortgage payment/subsidy for irresponsible homebuyers, which wouldn't be fair to EVERYONE else.

'EVERYONE' else receives other benefits from the housing market being stable. ie, those who have retirement plans who are cratering as a result of continued bank insolvency because of home prices falling... those who are losing jobs due to falling aggregate demand because credit issuance is broken due to the same cause... etc. etc.

I am one for tightening foreclosure/bankruptcy rules to offset the moral hazard that could come from a mass refinance program at below mkt rates.

 

[stock_trad3r]

lol and the N225 is hardly down at all. doom and gloom is priced in. go long.

 

[Landis82]

Quote from achilles28:

STUNNING!!!

China is next.

But we won't know anything about China for almost a year because they only measure their GDP on a "year-over-year" basis and not vs the past quarter.

 

[Landis82]

Quote from trader_arb:

Why should they though? With unemployment climbing, the only thing they can do is artificially prop up home prices. This would probably be in the form of some sort of mortgage payment/subsidy for irresponsible homebuyers, which wouldn't be fair to EVERYONE else.

And that was McCain's big economic proposal during the Presidential debates, as I recall. But "subsidizing" your neighbors mortgage doesn't come off too well in the Republican party.