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If the fed did that, we'd be in a complete collapse. Worse than the depression. That's infinitely worse than 8% inflation.
by xxpor 4y ago
If the fed did that, we'd be in a complete collapse. Worse than the depression. That's infinitely worse than 8% inflation.
- UncleEntity 4y agoVolcker drastically raised rates and we’re still here. I believe my parents had a 17% interest rate on their mortgage back then.
- nl 4y agoI lived though that. It was not pleasant. Long-term, high levels of unemployment are a nightmare.
- FollowingTheDao 4y agoI take it you weren’t alive in the 1980s? I wonder if you actually think there’s a way out of the mess that’s been created over the last 14 years?
- xxpor 4y ago>I take it you weren’t alive in the 1980s? Depends on which side of the life begins at conception/birth debate you're on ;) I took your suggestion as suggesting the fed should bump the rate up to nearly 10% in one go, with no warning, which isn't what they did back then. I also think the artificially induced recession wasn't even necessary. It's more likely that Regulation Q reform is what actually ended that inflationary period.