I remember when mortgage rate were pushing 18%. I actually have held a 12% mortgage on my crappy $50K house in the 80s. So, we have had artificially low rates for the past 20 years or so. It encourages debt, which is the idea. No one else in the world borrows money like Americans do. It is such a conrundum.
I remember when mortgage rate were pushing 18%. I actually have held a 12% mortgage on my crappy $50K house in the 80s. So, we have had artificially low rates for the past 20 years or so. It encourages debt, which is the idea. No one else in the world borrows money like Americans do. It is such a conrundum.
Nah. The human sacrifice occurred from 2008 - 2022 with rates at or near zero the whole time.
‘John Bull’, says someone, ‘can stand a great deal, but he cannot stand two per cent . .
-Walter Bagehot, London, 1852
Les plus ces change, etc. etc.