3 ms·
Isn't the problem with raising interest rates that the rich with savings have assets that improve and the poor with debts have loans that get worse?
by ed_elliott_asc 4y ago
Isn't the problem with raising interest rates that the rich with savings have assets that improve and the poor with debts have loans that get worse?
- cs702 4y ago> have assets that improve The opposite is happening: Asset values are declining. Stocks, bonds, property, etc. -- all declining in value. That's the reality.
- Rury 4y agoRising interest rates make debts worse and asset values (including those belonging to the rich) to decrease, whereas it's mostly just the value of money which improves. Also, who is rich/poor and has assets/debts can be hard to tell from appearances alone. Would you call this guy poor [0]? Seems like he has a good life. Which begs the question... when we talk about taxing the rich, who are we thinking of exactly? Someone living beyond their means, or below their means? [0] - https://www.youtube.com/watch?v=r0HX4a5P8eE https://www.youtube.com/watch?v=r0HX4a5P8eE