Tuesday, May 31, 2022
Fed officials signal rates may head to ‘restrictive’ levels
WASHINGTON (AP) — Federal Reserve officials agreed when they met earlier this month that they may have to raise interest rates to levels that would weaken the economy as part of their drive to curb inflation, which is near a four-decade high.
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Print and spend money our great-great-grandchildren will have to pay back (should America survive that long), then raise interest rates to restrictive levels in an attempt to curb the inflation your policies have created.
ReplyDeleteThe fundamental transformation of America, aka The Great Reset. You will own nothing and like it.
The last time inflation was this bad under Jimmy they had to raise the rates to 20% to stop it, and now they act like a .5% raise is going to do something. We are in the best of hands... Morons..
ReplyDeleteI started my 35 year job in 1978, right out of high school. I spent a year pissing my money away, so I bought a house, on a land contract, for 16,500$. A year or two later, interest rates hit over 11%, and the man who held the contract asked me to refinance, so he wasn't losing money holding the contract.
ReplyDeleteI couldn't get a bank to loan any money even at that rate. By about 1981 or so, some interest rates were running at 21% + .
I can foresee a similar thing coming again. But I don't blame it all on Biden, the Republicans are also guilty of handouts of cash when they want to garner favor of voters. I suspect that everyone reading this understands that if you just print money, without anything to back it, the money becomes worth less. That is what creates inflation. Why the federal government either can't figure it out, or doesn't care, is beyond me.
We all have heard the stories of bringing wheelbarrows full of money to buy a loaf of bread, or burning piles of money to keep warm, because it is cheaper than buying coal or oil. The price of food is likely to continue to rise over the summer, as fuel costs also rise. So a dollar spent on stockpiles of food is worth more than a dollar when that food rises in cost. The smart person will plan ahead.
I never used to pay attention to 'The Fed'. Until now.
ReplyDeleteHey, fellas at 'The Fed': Y'all don't want this sort of attention.
There's only one inflation exit here: recession. The only question is how bad it will be. Pure economics.
ReplyDeleteI'm not optimistic. Biden's got five months to make it worse.
Five months to make it worse, and they are hard at it ginning up every excuse possible to enact another fraudulent erec-shun. think monkey pandemic WHO orchestrated or we'll all die cause of the melting icecaps, but only if you're wassist, which ya'll are cause you know, you're just deplorable dirt people.
DeleteBecause God forbid the Feds make any *actual* cuts to their never-ending spending spree:-(.
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