Fannie Mae-No Politics (FNMA)

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Unemployment may be great in Pheonix, here in the Midwest fast food is doing great but fine dining closing left and right. If you are on SS , you can not even afford coffee. Obama raided SS in 2011 budget negotiation to pay welfare payments. That amount was $700 billion. SS cola total increase for last 8 years has been approx 7 % white rent, food, utilities, energy, health insurance premiums , medical cosr etc. have gone through the roof. For some retirement funds in pension and markets were destroyed. Interest on savings and CDs has been pennies on thousands of dollars. No economic positive contribution from seniors as a whole. Nothing but negative.

One of the most stable business in good or bad times has been insurance companies. Northwestern Life is one of the top stable life insurance companies. They just announced a 20 % layoff to be immediate. Reason cause low interest rates making it impossible to meet demands on policies rate of return and payouts. This a major contributor drag.

Same thing with Illinois Blue Cross Blue Shield and probably any insurance company. Probably reason why fed wants to raise rates.

But if Fed raises rates, interest rate on national debt goes up and business cost go up increase chance marginal jobs reduced , wage increases stop, just more deter action.

Are we heading into a road on road to no return?

Also, remind that Arizona was a major player in defaults and forclosures.