The Shirmeyer Report / Sigma Research Inc.

My company subscribes to David Shirmeyer's daily market report which provides commentary on mortgage interest rates and the news and political events that affect them.  His style is sometimes brash and to the point.  After almost 4 years of reading his twice daily reports, this has got to be my favorite paragraph read during that time:

"Still no budget agreement but getting closer; apparently the main issue now is Republicans wanting to end funding for Planned Parenthood while Democrats stand firm that America needs abortions paid for by tax payers. The fumbling in Washington should make all of us wonder if our "leaders" actually have a clue about what their jobs are and the increasing need to cut spending and increase revenues. According the latest news both have now agreed to cut $38B from the budget, a pittance compared to what has to be cut in 2012. We continue to believe the government will not shut down, that a deal will be met at the 11th hour; its what politicians do---play with themselves."

How could you not love this guy? 

Here is the rest of his commentary from this afternoon:

"The stock market didn't appreciate the foot-dragging, the bond market also with increasing interest rates. The third week in a row that interest rates have moved higher.The dollar is taking a hit on the way our leaders lead and that most all countries have now or will shortly begin to increase rates. IN the US Bernanke and the Fed still hang on QE and are sending the message that it will not increase rates because Bernanke doesn't believe inflation is an issue now or in the near term. Meanwhile gold continues to increase as a hedge against inflation and crude oil continues to increase. Crude now at $113.00 and gold at $1474.00.

The Fed messed up under Greenspan keeping rates too low for too long triggering among other things the sub prime mortgage collapse that brought the US at the door step of depression. Bernanke seems to be headed down the same road, he admits he didn't get it that making mortgages to anyone breathing would be a problem. The end of it all has torn the mortgage markets apart and lead to the government telling private businesses how much they can pay employees."

If you're interested in more from Mr. Shirmeyer, here is his web site:  http://www.shirmeyer.com/