For more from Daniel Medina, visit racketcartoons.substack.com
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.
Daniel....don't quit your day job.
50 years ago we were a country of savers, a people of thrift, a culture of delayed gratification. Now we're Drunken Sailor Nation.
Why the two panels? Is there a joke I’m not getting?
Does this cartoon reflect the opinion of Daniel only or Racket as an organization?
Keep those coming, would you? Xox
Daniel, interest rates should have gone up long ago. The alternative is sacrificing The Dollar which makes the short-term pain look like Utopia. I suggest you study Austrian Economics, look at Dr. Ron Paul’s predictions over the years, and generally get your head out of your ass and quit trying to have your cake and eat it too. Economic Law is demanding recompense for decades of terrible policy. There is no soft-landing anyone convincing you otherwise is a snake oil salesman.