Posted on 08/25/2023 7:50:17 AM PDT by janetjanet998
I did very very well.
Even a blind man could see the 2007 crash coming in 2005.
You’d prefer to see the vast majority of citizen’s savings accounts devalued by runaway or hyperinflation?
Interest rate hikes are what brought inflation under control under Reagan.
——
Savings? What savings?
I’m not sure what the savings rate was back then but credit card debt has got to be much much higher today
High oil prices don’t help with inflation either
Drill baby drill
But, are people with savings accounts and inflation is devaluing the money in them.
People lost massive savings during that time on very poor advice from their financial economists.
Very few were writing in detail about the impending crisis 1 1/2 years out. Economics is more than just a passing fad for me.
You probably think Wharton is a top notch school also...
“Economics is more than just a passing fad for me.”
Then why do you argue against reduction in M1/M2 is a desired effect of an increase in interest rates?
That’s pretty basic stuff, even for a monetarist.
“You probably think Wharton is a top notch school also...”
FYI: Trump is a Wharton alumni.
https://www.businessinsider.com/most-successful-wharton-business-school-graduates-2014-10
Destroying the currency
Raising interest rates
Denying elections
Imprisoning political rivals
Food supply issues
Wage stagnation
An over-officious state which is ruled by and for...
Arrogant, entitled, condescending and pretentious elites
French Revolution -redux
And that matters, because...?
Many of the Certified Investment Management Analysts I worked with were also. They lost their clients a whole lot of money during downturns.
Agreed - but currency started becoming destroyed in the world in the 1600's, beginning with Holland - then William causing England to use debt-based money in the 1690's...right after his wife Mary (who had actual rights to the throne) died.
Debt-based money is simply a master/slave relationship - and we aren't the masters...
Interest rate increases will decrease the money supply, simply because fewer entities take out new loans (which is the creation of money - which is the claim on the promise of future labor of the debtor, or other claims on future labor the debtor may own.
That's not how you were taught - which is my point. You were taught that the bank lends its deposits.
There's a good video put out by the Bank of England that actually shows this. Again, take everything down to the root - which is a master/slave relationship in a debt-based economy. The master owns the future labor (and sometimes actions) of the slave.
In 1985 I was taught banks borrowed from the Fed the money they lend. And that deposits represent a small fraction of their “assets”.
Fact-Checking All of the Mysteries Surrounding Donald Trump and Penn
https://www.phillymag.com/news/2019/09/14/donald-trump-at-wharton-university-of-pennsylvania/
>>You are not allowed to make up numbers.
Maybe not in math and science, but this is economics.
Credit card rates are 20% and up.
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