Of all the things you can complain about the US government doing to disadvantage the working class to the benefit of the wealthy…this is a really big reach.
Im guessing that over the decades US middle-class has shifted a lot from a “savings” economy to a “debtor-hell” economy. With higher interest-rates savings are slightly more valuable but spending will take a “hit”. Inflation will be sky-high since everything will get more expensive as less product on shelves and demand will keep rising.
You need direct stimulus into the middle-class, lower taxes or even tax-free for below median income families, massive luxury taxes on rolexes and ferraris , 60% to 90% tax on 1+ billionaires , capped-prices on essentials and rent-controlled housing. etc. etc.
Plenty of things the Fed and govt can do to rescue the middle-class. High interest rates doesnt do enough.
Agree, lowering interest rates would be a bandaid trying to stimulate spending again since most large purchases would be with debt. It’s funny the article even calls out some issues that congress can work out like high rent and record profis. It’s the same when student loan forgiveness is mentioned, yes you can forgive the debt but it doesn’t solve the core issue.
Of all the things you can complain about the US government doing to disadvantage the working class to the benefit of the wealthy…this is a really big reach.
Im guessing that over the decades US middle-class has shifted a lot from a “savings” economy to a “debtor-hell” economy. With higher interest-rates savings are slightly more valuable but spending will take a “hit”. Inflation will be sky-high since everything will get more expensive as less product on shelves and demand will keep rising.
You need direct stimulus into the middle-class, lower taxes or even tax-free for below median income families, massive luxury taxes on rolexes and ferraris , 60% to 90% tax on 1+ billionaires , capped-prices on essentials and rent-controlled housing. etc. etc.
Plenty of things the Fed and govt can do to rescue the middle-class. High interest rates doesnt do enough.
Agree, lowering interest rates would be a bandaid trying to stimulate spending again since most large purchases would be with debt. It’s funny the article even calls out some issues that congress can work out like high rent and record profis. It’s the same when student loan forgiveness is mentioned, yes you can forgive the debt but it doesn’t solve the core issue.