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It's time for rates to go up. It may slow the economy a bit but it's necessary so the Fed has ammunition to fight the next recession. Also, rates need to be raised to prevent bubbles in the financial markets. 2008 could maybe have been avoided if Greenspan wouldn't have kept rates too low for too long in the early 2000s.
Ask the Fed. Trump didn't raise the rates. Oh, there is one sure way to lower the rates; tank the economy. You want that?
That sawed off little gnome Bill Mahr sure does..i wonder how far Billy would go to get Trump out of office..would Bill be happy if terrorists nuke Boise, Idaho if it meant Trump looking bad?
I wonder how this benefits low wage workers...in addition to paying 20% more for gasoline, they all are going to be paying more for all their (vast) debt. Mortgage. Even their employers will be paying more interest on all their debts and mortgages and capital equipment....meaning less for wages.
As it stand there is zero wage growth when inflation is figured in - and that is before these hikes.
What is the end game here? Those of us who are financially secure could care less...we welcome higher interest rates. But the vast majority of people, including the forgotten man Trump said would be working his arse off and back in the saddle...they are gonna be hurting....
MAGA. Or MBGA (Make Banks Great Again).
I see an opportunity here.
Wanna go halves with me on financing houses?
Serious as a heart attack. Low interest rate. No reporting to credit bureaus.
3 missed payments we reclaim the house. Whether consecutively missed or over the course of the mortgage. Held financially responsible for any damages or unfinished projects...
We can stick it to the banks. And if people fail to pay their bill. We call sell the house multiple times.
What do you say? We will make money hand over fist based on volume. Plus whatever houses get defaulted on, we may be able to sell the same house 4 or 5 times...
I wonder how this benefits low wage workers...in addition to paying 20% more for gasoline, they all are going to be paying more for all their (vast) debt. Mortgage. Even their employers will be paying more interest on all their debts and mortgages and capital equipment....meaning less for wages.
As it stand there is zero wage growth when inflation is figured in - and that is before these hikes.
What is the end game here? Those of us who are financially secure could care less...we welcome higher interest rates. But the vast majority of people, including the forgotten man Trump said would be working his arse off and back in the saddle...they are gonna be hurting....
MAGA. Or MBGA (Make Banks Great Again).
Interest rates have been and still are near historical lows. I believe that in the 70's it was common for people to be paying double digit interest rates. It was an era known as "Stagflation" under Jimmy Carter.
Interest rates have been made so low as a means to stimulate the economy. Right now our economy is dependent upon massive debt and low rates of interest. Indeed, debt is encouraged via low rates of interest. Now that interest rates have been low for so long, people think that is normal, but its really abnormal. It just encourages more debt and ramps up housing prices and the like.
Here is the thing, though. Our economy would take a big economic hit or depression if the nation tried to normalize interest rates and debt. The economy is dependent upon those things. So expect a slowing of the economy by the end of the year.
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