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This would be funny if it were not sad..
Fed is lowering the rates of return people earn on savings and encouraging us through low rates to borrow, in the hope of increasing asset prices. Didn't work then, won't work now..
The recent financial crisis left the median American family in 2010 with no more wealth than they had in the early 1990s, erasing almost two decades of accumulated prosperity, the Federal Reserve said Monday.
The new data come from the Fed’s much-anticipated release Monday of its triennial Survey of Consumer Finance, one of the broadest and deepest sources of information about the financial health of American families
Despite these setbacks, consumers have continued to spend surprising amounts of money in recent years, helping to keep the economy growing at a modest pace. The survey underscores where the money is coming from: Americans are saving less for future needs and making little progress in repaying debts.
Didn't work then, won't work now..
it did work, ton of people borrowed and get raped.. ton of people also made money from it, by betting against them or selling the lube. just depends which side of the bed you were on.
or if you were the one filming posting on xtube for a flat fee commish..
2% n 20% was yesteryear but will come back in vogue.. the human race is myopic
Fed knows one trick, cheap credit ans transfer wealth from savers to borrowers. Creating real wealth and putting the economy on a more solid footing is beyond its ability, so more parlor tricks.
First, what would have happened if rates were not low?
Second, if I were standing on my toes and then stand normally, does that mean I got about half a foot shorter between that two point in time?
Turns out "your home is the best way to build wealth" wasn't true either...
bubble creates wealth