this post was submitted on 18 Sep 2023
240 points (96.9% liked)

World News

38563 readers
2889 users here now

A community for discussing events around the World

Rules:

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News !news@lemmy.world

Politics !politics@lemmy.world

World Politics !globalpolitics@lemmy.world


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] aesthelete@lemmy.world 2 points 1 year ago* (last edited 1 year ago)

Yeah the combination of the two is what made me have the reaction I did.

I don't think interest rates being high are a net negative for all people with money. It's great to be able to plop your money in a bank account and earn generally more than inflation in interest right now risk free.

Generally, high interest rates are going to be bad for borrowers. I think high inflation coinciding with high interest rates isn't particularly geat for most, but it's harder if you have no money because you need the ability to take on debt, and that debt is going to come at high interest rates.

Some credit cards are at 30% interest rates, in no way is that good for those who need to borrow.

Inflation is also a-ok for asset holders. It's cash you don't want to be holding in times of high inflation.