Back when interest rates were near 0% this website was filled with people complaining that seniors living on fixed incomes can't afford to pay their bills. They said it was IMPERATIVE that interest rates must rise to help these people survive.
Now, this website is filled with people complaining that rising interest rates are going to DESTROY the U.S. and bring on a never-before-seen economic Armageddon.
I suspect the same people are posting these diametrically opposing rants here.
“INTEREST RATES” will not “destroy” the US. They are the antidote for what will destroy the US (the deliberate destruction of the currency by the fed). The problem is, we have pushed back the needed correction for too much money so intensely and so long (ESPECIALLY since 2007) that if we really grind down on interest rates to choke out inflation, it will actually seem like we are “destroying” the economy.
Were you around in 2001-2002? Before the fed finally let interest rates go, the results were nothing less than apocalyptic. I saw my dad lose everything he had (he was in real estate), and have to go out to TX to work in the oil fields. It was very ugly.
The point is, to address the problem now, it is going to be very much like the philosophy of chemo to a cancer patient. You poison his whole body with the hopes that the cancer dies before he does. It won’t be pretty. The alternative is to believe the BS of the feelgood money printers who have already destroyed over 60% of the dollar’s value in just the last 10 years.
If that sound like “hand wringing” to you then ... well... good luck to you. I ain’t buyin’
Ya, been there done that. I like this quote from the God Father (see below). In other words, people become lazy and complacent and stupid and forget what is important. We are at this point right now (IMHO).
God Father quote...
“These Things Gotta Happen Every 5 Years Or So, 10 Years. Helps To Get Rid Of The Bad Blood.”
Don’t get me wrong. Some good changes have happened that were once considered a waste of time and stupid. But we need a way to sort through the stupidity and sadly, hardship, helps us do that. History repeats itself.
“I suspect the same people are posting these diametrically opposing rants here.”
FR is a rat’s nest infested with doom-and-gloom defeatists who want to see the world burn.