Reagan raised interest rates and it worked.
Interested to see what happens now.
If the dollar becomes worthless,gold and silver won’t save you.
This is true.... although it was not Reagan, but Paul Volker. The problem here, though, is the debt. Our national debt (98,000 dollars for every man woman and child) is so huge that raising interest rates beyond 4% would make ALL TAX REVENUE CONSUMED BY SIMPLY PAYING INTEREST ON THE DEBT. We simply cannot raise rates enough to make a significant dent in inflation, and everyone knows it.
If we went back and calc’d price inflation the way they did in the 70’s it would be up around 19% which would require interest rates AT LEAST 15% or better. We simply cannot do that... and everyone knows it.
We are dead.
If the dollar becomes worthless,gold and silver won’t save you.
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I am not sure what logic you are using there, but I think I will avoid it, once I figure out what it is.
When Reagan raised rates (so to speak… it was actually Paul Volker) the national debt was 900 billion. Today it’s 31 trillion. We were the worlds biggest creditor back then. Now we are the largest debtor in human history. We are borrowing an extra 2 trillion a year.
A bump in interest rates won’t fix this.
If you are willing to throw the most vulnerabe economically unber the bus. I AM NOT. WE CAN STOP INFALTION BUT DO IT IN A SANE MANNER.