The Red Sox beat the Blue Jays 7-6 which means the worst they can do is split the series. I would like to see them win tonight and win the series because it would bring me joy.
Pivetta is on the mound. His last start wasn't his best so hopefully he is on his game tonight.
Has anyone else been reading the commentary about the Biden administrations move to increase interest rates for people that have good credit so the people with bad credit can get lower interest rates? If not, you should pay attention to what I'm about to tell you.
It's not interest rates that are being raised or lowered, it is the fees the FreddieMac and FannieMae charge. Basically, they are trying to get people with bad credit a better shot at home ownership. They figure if they lower the fees for some people and raise the fees for other people, they will bring "equity" to the market.
Let me say this about that: Bullshit.
In the first place, no bank is going to lower fees for someone just because they can charge higher fees to someone else. They will charge everyone the same fees and take the savings they get from Freddie and Fannie as an increase in their profits. This will result in higher bonuses for the executives.
In the second place, does no one in this administration remember the Clinton-era policies of giving favorable rates to impoverished areas of the country? It led to what was known as a "housing bubble" where there were so many home buyers that house prices rose throughout the 1990s and into the early 2000s. Then, in 2006, the bubble popped, the market collapsed and house values plummeted.
When the housing market collapsed, all of those mortgages were now more than the value of the houses they covered. We called those loans "subprime" because they were below the standard rate, they were for more than the house was worth and the people had no way of paying them back. That meant banks were foreclosing on houses like there was no end in sight.
The upside to all of that is that when the government finally got it's head out of it's ass and stopped the policy that allowed banks to lend money to people that couldn't pay it back, it was too late and people with good credit were snapping up million dollar homes in Florida for pennies on the dollar.
Seems to me that Goofy Joe is in the process of causing another housing crisis like the one in 2007. He wants to lend money to people with no way of paying it back. That will increase the number of buyers in a market that already has limited supply. When those people start defaulting on their loans and the housing values begin to plummet, it will be too late to blame him. He will be well out of office and probably shitting his pants in some nursing home somewhere.
Breakfast for dinner - french toast, sausages and scrambled eggs.
I'm going to watch some baseball.
Here are some links:
- Key phrase in this story: "I would take anything coming out of the Kremlin with a very large shaker of salt."
- I was wrong. He wasn't in Mexico, he was in the closet.
- Meet the luckiest man alive.
- Oh Canada.
- Only in Florida.
- This is a new one. He doesn't have "mental issues", he has "messed up medication"...
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