CDZ No Fed Recession Ammo

[william the wie]

Another wave of pointing out the obvious that interest rates are so low that cutting rates by the Fed will have no or minimal effect on GDP if there is a downturn. Is there anyone outside of their child proof playpen that this unaware of this?

 

[Oddball]

You're not going to find many who even know how the Fed fiat money printing scam works, let alone have an intelligent conversation about it.

 

[william the wie]

You're not going to find many who even know how the Fed fiat money printing scam works, let alone have an intelligent conversation about it.

Not to mention that modern monetary theory as practiced in the EU has a whole series of assumptions that cannot be demonstrated to make any sense at all.

 

[Dekster]

Mortgage rates have been falling in the face of rising fed interest rates. Credit card rates, however, are climbing. Problem is, the credit rates are climbing faster than the fed rates and the banks do not cut those rates as readily. The average is up about 3% in the last three years to close to 18%. Some of it is quite ridiculous. I have around an 800 credit score, nothing negative in my history, etc etc etc, and some of these lenders will send me offers based on my excellent credit score for new credit cards with the bargain APR of 22-24%. One of the amusing things is my bank with whom I have a credit card with a 12% APR on which I carry no balance keeps sending me offers to transfer my high balance to one with close to 19% interest (but you would get cash back)......I don't want cash back. I want to send as little cash as possible in to begin with. Freaking morons. Anyway, the fed has some ammo, but they are not silver bullets and consumer lending is run by werewolves.

 

[Oddball]

You're not going to find many who even know how the Fed fiat money printing scam works, let alone have an intelligent conversation about it.

Not to mention that modern monetary theory as practiced in the EU has a whole series of assumptions that cannot be demonstrated to make any sense at all.

None of Keynesian economic witchcraft can be demonstrated to make any sense at all.

Broken windows everywhere.

 

[william the wie]

Mortgage rates have been falling in the face of rising fed interest rates. Credit card rates, however, are climbing. Problem is, the credit rates are climbing faster than the fed rates and the banks do not cut those rates as readily. The average is up about 3% in the last three years to close to 18%. Some of it is quite ridiculous. I have around an 800 credit score, nothing negative in my history, etc etc etc, and some of these lenders will send me offers based on my excellent credit score for new credit cards with the bargain APR of 22-24%. One of the amusing things is my bank with whom I have a credit card with a 12% APR on which I carry no balance keeps sending me offers to transfer my high balance to one with close to 19% interest (but you would get cash back)......I don't want cash back. I want to send as little cash as possible in to begin with. Freaking morons. Anyway, the fed has some ammo, but they are not silver bullets and consumer lending is run by werewolves.

On mortgages I would think that the better number is the total house payment with taxes, insurance and what not included. For example equity share sells as opposed to HELOCs, reverse mortgages and other lending products are not necessarily picked up as such in national or even local stats.