By lowering interest rates the Fed is trying to make cheap money available to stimulate investment. But the problem is that credit is over extended all across the western hemisphere. People have spent beyond their means for far too long and its time to pay the Piper. They don't need more credit. They need to tighten their belts and pay their bills and quit using so damned much credit.
Lowering interest will drive up the price of crude and guess what, everything will cost more because of that and borrowing money to buy stuff when its more expensive is stupid beyond reason. Its the dumbest thing a nation and an economy can do.
Like I said, its time to pay the Piper and pay off those debts with stingy money and hard times and get caught up. You can't have your cake before you do your chores. All lowering the interest rate is going to do is make the times even harder. Stop it you dumb clucks. You are going to generate a positive feedback loop right into a depression.
Jormawankenobe
Copyright 2008 Jorma Jyrkkanen
0 comments on Fed is Screwing Up Big Time
Add a comment
To add comments without entering your email and image verification, you must be logged in. Login or Join Blogster
