2012-12-11 — usawatchdog.com
``According to Calvo, the economy is being helped by "shadow stimulus." It's coming from millions of underwater homeowners who have stopped making mortgage payments. Calvo says, "Money that would have been otherwise allocated towards a housing payment is going into consumer spending." The Fed is also propping up housing by suppressing interest rates. Calvo says the fragile real estate market would crash if rates rose just a little, and he adds, "That's why you're going to see low interest rates . . . through 2015 or until there's some kind of dollar or bond crisis." Join Greg Hunter as he goes One-on-One with Fabian Calvo.''
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