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And record near 0% rates have led to the richer becoming richer and poorer becoming poorer. The problem is, the people best suited to exploit near 0% are the w
by delfinom 2y ago
And record near 0% rates have led to the richer becoming richer and poorer becoming poorer.
The problem is, the people best suited to exploit near 0% are the wealthy who can take out absolutely massive loans, buy up companies, real estate and more, and jack prices. Which all leads to inflation ~~.
It's a death spiral.
- detourdog 2y agoI have hard time believing current rates are unusually high. They might be slightly above ideal.
- trey-jones 2y agoThis is how I see it. Current rates aren't high, they just seem high because of the free money that's been available since the 2008 crash. I always thought that we kicked the can down the road for too long and we would pay for it. So far, I think we're still kicking. Who knows, maybe the country's top economists have something going for them and the pullback won't be a crash.
- ta988 2y agoExtreme wealth has a net negative impact on economy. Both because of direct impact but also politicians trying to please them with tax incentives and what not. Plus the insanity of a single person can disrupt a whole sector.