On Monday June 18, 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 (14:42)
Louis discusses the situation in Greece. Louis noted that the Greeks voted to keep the pub open well passed happy hour. Louis discusses the United States’ debt levels vs Greek debt levels. Ryan notes that the winning New Democracy party in the Greek elections said they are committed to a $300 billion bailout.
Louis notes that its like a person who is extremely drunk at a bar pronouncing that he is committed to doing 12 more shooters. Louis discussed how the Federal Reserve debases the currency.
Ryan notes that the Federal Reserve provided $4 trillion in loans to banks whose executives served as directors for the Federal reserve. Louis discusses fractional reserve banking. Continue reading this post
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.
On Monday April 23, 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 (14:40)
Ryan notes that the Fed is going to meet again next week and that many experts expect another round of quantitative easing. Louis thinks that the Fed won’t announce QE3 and that a lot of capital is flowing into the US as a result of the problems in Europe and that indeed many economists expect the US dollar to appreciate in value. Louis is not certain that is a well founded belief, but one that is prevalent.
Louis notes that an announcement of QE3 might cause a bit of a panic because it would be an admission that the recovery is not taking hold and oil prices would rise. Louis thinks that although the Fed may want to do QE3 they will probably hold off until after the election in November. Louis notes that the average investor is either short on cash or can not save as interest rates are low so they put their money in the stock market which drives valuations higher.
Louis notes that if you really wanted a strong dollar you would want higher interest rates so people would save money and invest in treasuries, rather than the Fed printing money out of thin air to buy them and thereby devaluing the dollar. Ryan notes that the dollar is appreciating vs the Euro. Louis notes that the dollar is not however strengthening against gold silver and oil. Louis notes that the amount of gold being mined is not as great as the amount of money being printed.
Louis and Ryan note the rising rental market. Louis notes that college grads will also put pressure on the rental market as most won’t be in a position to buy homes as they have student loans to pay and poor job prospects and will more often than not be renting. Louis notes that the American Dream of home ownership is in jeopardy for young people.
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