The Fed persisted in raising discount rates in the two years before the big crash. They were fighting “inflation” but it turned out to be “deflation” ~ so much for bankers to understand the difference.
Time to bring the real issue out. What’s in the Carpetbag? Alot of conditioning by the Carpetbaggers.
Desensitizing brainwashing that “financials” are an “industry”, and what they offer is called a “product”, that they are a “bank” (that quickly becomes a “bank holding company”), that what is peddled is a “security.?
In the carpetbag is WHAT IS BELIEVED to be a “security.”
Ever watch “The Best Years of Our Lives”?
SECURITY IS BACKED BY COLLATERAL. COLLATERAL resold as a “security” based upon a worker peforming or non-performing, is not REAL-estate collateral. The worker is not collateral.
Nor does the house itself, minus a false demand knowned to be BELIEVED so called “inflation”, appreciate, unless it’s a historic landmark.
The land itself, minus a demand supporting manufacturing base as capital formation, or minus a demand agricultural/farm productive base, becomes a DEPRECIATING asset.