Money for War, Prayers for Everything Else.
UNFTR Weekly Roundup Join us on Discord and Bluesky , and check out Max’s contributor videos on the MeidasTouch Network! Watch the video version of this newsletter. Max Notes This Is the Economy We Have Chosen I’ve been working on a housing crisis piece for what feels like forever. There are so many distractions and stories that keep taking me off track, so that’s part of it. But mostly it’s because housing is such a massive story with myriad plot lines and tangents. One storyline that keeps intersecting with our ongoing financial reporting is the idea that cutting rates at the Fed will somehow increase home affordability. Conventional wisdom tells us that if we’re in a low Fed interest rate environment the movement of other rates will tend to move in lockstep. This is a gross oversimplification of the bond market but the narrative has taken hold in the financial news that housing affordability is somehow tied to the Federal Reser...