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It frustrates the shit outta me. I mean, always hearing people talking about lowering the fed rates and getting them back down to where it was.
For the longest time we were eating financial junk food. We're finally eating our fucking vegetables. Starting to get things back to a more normal world where having money in the savings account actually earns us interest. I mean fuck one of the biggest problems is americans don't have savings for emergencies. When you have a five percent interest rate on a savings account, it actually makes sense to put money in a savings account. Banks should be paying us to hold our money and then lending it out. That's how it used to be that's how it should be.
We don't need bottomless fucking growth we need healthy sustained Moderate Growth. Don't turn the floodgates back open for political wins every goddamn time You need a boost in the polls Or with your corporate donors.
Save that shit for the real financial economic emergencies like covid. When times are good, we should not be giving money out for free.
this. I had one as a kid and in college but my interest rate was so close to 0% it may as well have been. I ended up closing it because what's the point? I only just opened one again last month because I was able to get a bit over 4% now, but at a diff rent bank because my old bank doesn't even have higher interest rates anymore. I used to throw my excess money into the stock market because that's where all the gains were but now I can get 4% with no risk thanks to the FDIC so that's what I'm doing now. these interest rates are normal and I'd rather this than the Era of Easy Money
If your interest rate is 0 then you're losing money due to inflation
I'm not saying this to accuse you, I'm saying this to educate anyone who may be unaware
The S&P 500 is 50% higher than it was before COVID. Unemployment is lower and inflation is under control. There was some shit inflation for a year and wages need to go up, but there was basically no hangover from the low interest rates.
The problem with real estate is mainly a lack of construction workers and equipment combined with housing code requirements. The average person can't build a house like they could in the past. That used to keep costs down. Look at any old house and you'll see some electrical or plumbing work that looks like the worker was drunk. You may even find beer bottles in the walls from those workers.