Federal Reserve Chairman Ben Bernanke lives in a three-bedroom, 2,100-square-foot, attached town house near the Capitol. It has an appraised value of roughly $850,000, not far from the $839,000 he paid for it in 2004. A public record search shows he owes $672,000 on the home, after refinancing his mortgage twice, reports WSJ.
One refinancing of his 30-year mortgage was in late 2009. The other was just this September, shortly after the Fed announced a new program, known as "Operation Twist," which aimed to drive down long-term interest rates.
Do you think Bennie might think this is the bottom in rates? If he is refinancing shouldn't you be?
WSJ goes in to tell us that most nights Bernanke spends at home with his wife, Anna, reading on his Kindle after dinner. In the past 18 months, he has told others, he has read 200 books on the Kindle.
Lately he's read about pre-World War II Germany, "In the Garden of the Beast," and a room-by-room guide to a 19th-century British home, Bill Bryson's "At Home."
Too bad he's not reading economics.
ReplyDeleteMeanwhile, Bernanke's mentor (Stanley Fischer) is facing his own iminent housing bubble pop in Israel:
ReplyDeletehttp://www.jpost.com/Business/BusinessNews/Article.aspx?id=249218
These slavemasters always broadcast in the MSM that they read 40M books a day so that the little people will think they are smart and wise. It is easy to own others...eh?
ReplyDeleteUm, shouldn't he be working evenings?
ReplyDeleteHere is interest rate history for the Israeli central bank, for any who subscribe to the Austrian school of economics here and can spot the problem...
ReplyDeletehttp://www.bankisrael.gov.il/deptdata/monetar/interest/bointcre.htm
Pre-WWII Germany is maybe a lot like pre-WWIII America.
ReplyDeleteVery true anon, if we pull the curtain back and the magician appears to just be another plain ass old man-were f@cked.
ReplyDelete