With all this bloviation about "adjusting interest rates", (the New Gold Standard of fiscal management), the net effect has been the following.
Interest the banks pay me - down about 30%.
Interest I pay the banks - up about 30%.
Therefore I (and you, and also you and you and you) end up financing the financial wizards that precipitated the housing disaster with the 21st century version of the The South Sea Bubble.
Which prompts me to re-iterate the premise on which history-according-to-Maunder is based: "Those who cannot remember the past are condemned to repeat it." - George Santayana "Those who do remember the past are likewise condemned to repeat it." - Frank Maunder
Interest the banks pay me - down about 30%.
Interest I pay the banks - up about 30%.
Therefore I (and you, and also you and you and you) end up financing the financial wizards that precipitated the housing disaster with the 21st century version of the The South Sea Bubble.
Which prompts me to re-iterate the premise on which history-according-to-Maunder is based: "Those who cannot remember the past are condemned to repeat it." - George Santayana "Those who do remember the past are likewise condemned to repeat it." - Frank Maunder
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