Quote:
Originally Posted by Pete
But I don't see any cuts coming in the social spending areas.
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Rumor control suggests you'll see a lot more of it. See the next-to-the-last paragraph on page 6.
LINK
Excerpt:
To be sure, there is growing chatter that the Fed is once again going to come to the rescue and Barron’s hints strongly at a coming $2 trillion quantitative easing program. The rumour mill is filled with talk of how the Administration is cooking up a new scheme, through the channels of Fannie and Freddie, to forgive part of the mortgage loans for distressed homeowners who are “upside down” (ie, negative net equity in their home) — a huge fiscal expansion that could bypass Congressional approval.