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The "rentiers" aren't the ones who shut down the economy (that would be bureaucrats and politicians at every level) and have any say over interest rates (that w
by prottog 3y ago
The "rentiers" aren't the ones who shut down the economy (that would be bureaucrats and politicians at every level) and have any say over interest rates (that would be central bankers). Seems strange to blame them for all of that.
Besides, why do you say that higher interest rates are harmful to the "productive class"? For every consumer who has to pay extra in their mortgage or auto loan due to higher rates, there sits a saver on the other end who gains from it.
- engineer_22 3y agoNo because fractional reserve. The money for mortgages and loans are created ad nihlo