3 ms·

Yeah, the government also artificially suppresses interest rates, making it easier to get mortgages yet somehow the blame goes to the lenders.

yunohn 5y ago
> somehow the blame goes to the lenders I find this statement quite tone-deaf. It’s hard to blame people for wanting a roof over their heads.
- anchpop 5y ago
  Maybe you’re thinking of borrowers? Lenders are the ones who give the loans and make money from interest.
- imtringued 5y ago
  It's the neoliberal mindset and everyone is falling for it. Pretty much every party in Germany is neoliberal. The irony is that a lot of neoliberal thinking is self defeating. Honestly, after I learned about neoliberalism I came to peace with the world because I know everyone deserves their suffering and there is no injustice. All those republican voters are voting for their own doom. It's fantastic. I no longer need to feel bad about their suffering because there is no contradiction, no conspiracy theory, no trick, no evil cartoon villain behind the scenes.
  - pedro_hab 5y ago
    Can you give an example of a country that archived economic prosperity using leftist policies? I also find your comment on republicans quite wrong, since I don't see many differences between republicans vs democrats. Both have been running ever increasing deficits, each president tops all previous presidents combined. You can't really say any of the US policies have liberal.
  - jl2718 5y ago
    What is ‘neoliberal’ thinking? Seems like a made-up word.
- pedro_hab 5y ago
  We don't seem to have houses for everyone, people gotta work and produce to earn a house. If you start giving mortgages with artificially low interest rates, people who haven't produced things to offset their consumption will get houses, which will increase the prices. Of course a lot of other factors play roles into this. > It’s hard to blame people for wanting a roof over their heads. I, in turn, find your statement quite naive, it would be great if everyone had a house, that doesn't mean we should just give it them, there are consequences, the prices will rise.
imtringued 5y ago
Unfortunately it doesn't. It's artificially keeping them up because 0% is the effective lower bound and interest rates should be well into negative territory because savers don't care that their savings do not represent real wealth in the economy.
- pedro_hab 5y ago
  No it isn't, the FED is buying mortgages and treasuries to keep the rates from rising. How can you say rates would be higher absent the FED buying it? Rates aren't negative nominally, but they are negative taking inflation into account.

yunohn 5y ago

> somehow the blame goes to the lenders I find this statement quite tone-deaf. It’s hard to blame people for wanting a roof over their heads.

anchpop 5y ago
Maybe you’re thinking of borrowers? Lenders are the ones who give the loans and make money from interest.
imtringued 5y ago
It's the neoliberal mindset and everyone is falling for it. Pretty much every party in Germany is neoliberal. The irony is that a lot of neoliberal thinking is self defeating. Honestly, after I learned about neoliberalism I came to peace with the world because I know everyone deserves their suffering and there is no injustice. All those republican voters are voting for their own doom. It's fantastic. I no longer need to feel bad about their suffering because there is no contradiction, no conspiracy theory, no trick, no evil cartoon villain behind the scenes.
- pedro_hab 5y ago
  Can you give an example of a country that archived economic prosperity using leftist policies? I also find your comment on republicans quite wrong, since I don't see many differences between republicans vs democrats. Both have been running ever increasing deficits, each president tops all previous presidents combined. You can't really say any of the US policies have liberal.
- jl2718 5y ago
  What is ‘neoliberal’ thinking? Seems like a made-up word.
pedro_hab 5y ago
We don't seem to have houses for everyone, people gotta work and produce to earn a house. If you start giving mortgages with artificially low interest rates, people who haven't produced things to offset their consumption will get houses, which will increase the prices. Of course a lot of other factors play roles into this. > It’s hard to blame people for wanting a roof over their heads. I, in turn, find your statement quite naive, it would be great if everyone had a house, that doesn't mean we should just give it them, there are consequences, the prices will rise.

imtringued 5y ago

Unfortunately it doesn't. It's artificially keeping them up because 0% is the effective lower bound and interest rates should be well into negative territory because savers don't care that their savings do not represent real wealth in the economy.

pedro_hab 5y ago
No it isn't, the FED is buying mortgages and treasuries to keep the rates from rising. How can you say rates would be higher absent the FED buying it? Rates aren't negative nominally, but they are negative taking inflation into account.