Artificially low and political driven zero interest rates have destroyed the economy, destroyed pensions, destroyed savers and can now never be raised to due the size of the obama deficits.
“Artificially low and political driven zero interest rates have destroyed the economy, destroyed pensions, destroyed savers and can now never be raised to due the size of the obama deficits.”
It thrills me when I read comments like yours and gives me hope that more and more people will begin to understand what is happening to our money. I think 4% interest is where most economies use all their income just to service debt. A friend ends his missives to me with Grasshopper, we are so screwed. Well, we are.
Trolls tell us that a lot on the FR, but low interest rates have never had that affect in decades past. What's different this time was huge tax hikes, unprecedented deficit spending, and a deliberate rejection of the rule of law. The fed had nothing to do w/ it.
I beleive you are correct.
If they raise rates now, a major portion of the budget will have to be used to pay just the interest on the debt. So, they cant raise it or the country goes into default...or prints even more money to pay for that interest. And we all know how that works out-IE Germany after WW1.