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Wealthy people have access to lower interest rates, poorer people have to pay a risk premium. The advantage to the wealthy is exacerbated the closer risk free i
by cjbgkagh 5y ago
Wealthy people have access to lower interest rates, poorer people have to pay a risk premium. The advantage to the wealthy is exacerbated the closer risk free interest rates go to zero. Lower interest rates is hugely advantageous to the wealthy.
- Workaccount2 5y agoNever mind that when you reach a certain level of wealth, capital is your main source of more wealth. So capital becoming cheaper just goes straight to your bottom line.
- cjbgkagh 5y agoI don't support low interest rates as I think it's a bad policy that hurts the low income earners and society at large. However, I did predict and intentionally benefit from low interest rate policies to the point that I can now be considered wealthy. This has led to their rather weird situation where my in online disagreements I'm arguing against my economic interests.