Deep Doo-Doo

Bernanke's rate cutting campaign is not working. Or at least, not for the housing market. With housing stocks surging today on inflation news, I will short one of them later today. 30-yr. fixed rate mortgages are currently at 6.08%. One year ago, the rate was 5.75%. Instead of making the housing market better, cutting rates is making it worse. Maybe we'd be better off if Bernanke raised rates. But that probably won't happen.