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So your willing to pay 21% interest?
Posted on: February 10, 2022 at 08:41:49 CT
ScottsdaleTiger MU
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Our last major bout with inflation was in the early to mid 1970's. To wring it out of the economy the Federal Reserve had to raise interest rates. I recall banks charging their best business customers 21%.
Simply put, inflation is too much money chasing too few goods and the classic method and only proven method of eliminating or at least bringing it back to a workable level is to reduce the money supply. That means an across the board increase in interest rates.
What does 21% interest rates for a banks best business customers transalate to for you on home mortgages, car loans and credit cards.
Simply put, inflation is too much money chasing too few goods and the classic method and only proven method of eliminating or at least bringing it back to a workable level is to reduce the money supply. That means an across the board increase in interest rates.
What does 21% interest rates for a banks best business customers transalate to for you on home mortgages, car loans and credit cards.
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So your willing to pay 21% interest? - ScottsdaleTiger MU - 2/10 08:41:49