MFI-Miami Blog

Your Neighborhood Drug Dealer And Pimp Are Getting Free Money From The Trump Coronavirus Stimulus Package  Your  neighborhood drug dealer and pimp  are happier than a Green Beret with a chokehold on an Arab terrorist. Why? The hastily put together Trump Coronavirus Stimulus Package is giving them up to $3,000. That’s right. You’re not the only one getting free money from Trump. The guy down the street you tell your teenage daughter to stay away from is getting one too. Trust me, he’s going to use it to get her hooked on crack or heroin and profit from pimping her out. I know, I’ve seen it happen down here in South Florida.  Most drug dealers live in  FHA Section 8 housing  or have  low-cost CRA or FHA mortgages . This means they need to file tax returns every year to qualify for benefits. Thus, like most eligible Americans, they qualify for a stimulus check. $3,000 buys a lot of crack, meth, and opiates on the wholesale market especially h...

Federal Reserve Goes On A “Sex & The City” Style Shopping Spree For Mortgage Debt The Federal Reserve  pledged on Monday  to buy unlimited amounts of Treasuries and mortgage-backed bonds to stabilize the mortgage markets. The Fed hopes it will have the same effect as when it rescued the economy in 2008. The Federal Reserve set a budget last week of  $700 billion in bond purchases . However, it blew through half that amount in less than five days. The Fed launched three rounds of bond-buying more after the 2008 financial crisis. The Fed’s aim was to save the housing market and stimulate economic growth. The first phase helped to drive  mortgage rates  below 5%. The goal of the central bank isn’t to  push down mortgage rates.  Lower rates are the likely consequence of the Federal Reserve going on a mortgage-backed securities shopping spree.  Read more at MFI-Miami