On Monday May 14, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big Talker 1580 WHFS AM, hosted by Ryan Sloper.
Listen to the show.
Part 1 (14:47)
Ryan notes that one of the Facebook co-founders is renouncing his US citizenship to avoid taxation. Louis notes that the US is the only country that lays a claim on its citizens’ world wide income. Louis notes that if the US wants to be competitive world wide they need to reconsider their taxation policies.Louis that for over 100 years people from all over the world wanted to come to the United States.
Louis notes that the powers in Europe are spending a lot of money to keep Greece in the Euro. Louis notes that RE Radio discusses events in Europe because they have a direct impact on US interest rates. Louis notes that opposition parties in Europe are against austerity programs and that the situation in Europe helps the US as Europe has to debase the Euro by printing more money to bail out its member states. Louis notes that the US is also in the race to debase.
Louis notes that JP Morgan’s losses are probably greater than the $2 billion stated. Louis notes that this situation may pose the need for another bailout, which if were to occur would probably drive more investors into the “safety” of US treasuries and drive interest rates lower.
Louis notes that the journalist coverage of JP Morgan’s trading loss is general and that the specifics are not know. Louis speculates that the loss if probably far greater than reported to date. Louis notes that JP Morgan’s CEO Jamie Dimon is on the board of the NY Federal Reserve. Louis notes that the Federal Reserve is a private bank. Louis notes that depositors don’t keep tabs on their banks’ trading activities because they are satisfied with FDIC insurance. Louis notes the revolving door between the big banks and the US government.
Part 2 (12:52)
Ryan describes HomeGain.com’s Compare Realtors program. Ryan notes that there might be another round of QE prior to the election. Louis predicts that there will not be QE3 before the election unless there is something out of the ordinary, but that QE3 is inevitable.
Louis notes that the JP Morgan trading loses may be a straw man to create a crisis and use it as an excuse to inject more liquidity. Louis thinks that if there were contagion from the JP Morgan trading losses, issues in Europe/Greece and or stock prices were to plummet, than the Fed would act. Louis notes that in a perverse way investors have confidence in the US dollar because the Federal Reserve stands ready to purchase US Treasuries, despite the fact they already buy 61% of US treasuries.
Louis notes that gold and silver dropped prior to the financial crisis of 2008 and investors moved into US Treasuries. Gold and silver did not rise until the Fed started its rounds of quantitative easing. Louis notes that the flight to safety often does not mean gold or silver but US treasuries instead.
Part 3 (11:58)
Ryan notes the bankruptcy of Ally Mortgage, formerly GMAC and a recipient of bail out funds. Louis notes that the government loses money on many companies it invests in- Freddie Mae, Fannie Mac, Solyndra. Louis notes that it takes $2.5 billion in borrowing to get $1 billion in GDP growth. Louis notes that savers get no interest from their savings so they put it in the stock market instead.Louis notes that savings help the economy by being a resource for investment in productive entities.
Louis notes that production creates wealth not borrowing money and spending. Louis notes that banks like JP Morgan would rather bet on trading derivatives than loan money. Louis notes that it seems they have more control over the general market than they do over someone being able to repay a loan. Louis notes that the Federal Reserve and the government allow the big banks to engage in risky highly profitable activities. Without such cover banks would not take such risks.
Part 4 (11:59)
Ryan discusses mortgage interest rates. Louis notes that the central banks have been successful in keeping interest rates low. Louis notes that there already is inflation and inflation in rental prices. Louis notes that the rise in rents is due to a supply demand imbalance not necessarily due to an overall increase in inflation.
Listen to Facebook Co Founder Renounces US Citizenship JP Morgan on You Tube
Listen to other Real Estate Radio shows with Louis Cammarosano
Listen to the Real Estate Radio show of May 7, 2012
Listen to the Real Estate Radio show of April 30, 2012
Listen to the Real Estate Radio show of April 23, 2012
Listen to the Real Estate Radio show of April 16, 2012
Listen to the Real Estate Radio show of April 9, 2012
Listen to the Real Estate Radio show of March 26, 2012
Listen to the Real Estate Radio show of March 19, 2012
Listen to the Real Estate Radio show of March 12, 2012
Listen to the Real Estate Radio show of February 27, 2012
Listen to the Real Estate Radio show of February 13, 2012
Listen to the Real Estate Radio show of February 6, 2012
Listen to the Real Estate Radio show of January 30, 2012
Listen to the Real Estate Radio show of January 23, 2012
Listen to the Real Estate Radio show of January 9, 2012
Listen to the Real Estate Radio show of November 14, 2011
Listen to the Real Estate Radio show of November 7, 2011
Listen to the Real Estate Radio show of October 31, 2011
Listen to the Real Estate Radio show of October 24, 2011
Listen to the Real Estate Radio show of October 17, 2011
Listen to the Real Estate Radio show of October 10, 2011
Listen to the Real Estate Radio show of October 3, 2011
Listen to the Real Estate Radio show of September 26, 2011
Listen to the Real Estate Radio show of September 19, 2011
Listen to the Real Estate Radio show of August 29, 2011
Listen to the Real Estate Radio show of August 15, 2011
Listen to the Real Estate Radio show of August 8, 2011
Listen to the Real Estate Radio show of July 25, 2011
Listen to the Real Estate Radio show of July 11, 2011
Listen to the Real Estate Radio show of June 27, 2011
Listen to the Real Estate Radio show of June 20, 2011
Listen to the Real Estate Radio show of June 13, 2011
Listen to the Real Estate Radio show of June 6, 2011
Listen to the Real Estate Radio show of May 23, 2011
Listen to the Real Estate Radio show of May 16, 2011
Listen to the Real Estate Radio show of May 9, 2011
Listen to the Real Estate Radio show of May 2, 2011
Listen to the Real Estate Radio show of April 25, 2011
Listen to the Real Estate Radio show of April 18, 2011
Listen to the Real Estate Radio show of April 11, 2011
Listen to the Real Estate Radio show of March 21, 2011
Listen to the Real Estate Radio show of March 14, 2011
Listen to the Real Estate Radio show of February 28, 2011
Listen to the Real Estate Radio show of January 24, 2011
Listen to the Real Estate Radio show of November 29, 2010
Listen to the complete archive of Louis Cammarosano on Real Estate Radio shows
Real estate radio interviews also available on Youtube
About the Real Estate Radio Network
The Real Estate Radio Network® is a nationwide alliance of real estate related professionals with a common objective: delivering the timely truth about local Real Estate Markets over local radio stations.
The Real Estate Radio Network brings hard-working and ethical professionals in a community together. We provide the media and forum necessary for Consumers to learn the truth about important aspects of their financial life, which is mostly centered around their biggest investment, the home they live in. The Real Estate Radio Network® brings each radio program to the audience with a “live and local” show hosted by well-respected members in the local Real Estate and Financial community.
About Ryan Sloper
As a highly motivated mortgage consultant, with more than nine years of mortgage lending experience, Ryan Sloper has acquired a solid understanding of the local and national real estate markets. Ryan has been investing in residential and commercial real estate for the last 5 years, where he has first hand knowledge of what it takes to be a successful real estate investor. Ryan also hosts a weekly radio show, Real Estate Radio, which airs every Monday on 1580 AM in the Washington, DC Metro Area. Real Estate Radio also streams live nationally @ http://whfs.cbslocal.com/shows/real-estate-radio-with-ryan-sloper/
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May 20th, 2012 at 9:42 pm
Nice post. thanks a lot for this very informative share.
May 22nd, 2012 at 5:16 am
nice information shared this blog for Real Estate Community……thanks
May 29th, 2012 at 3:32 am