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re: The Current Prime Lending Rate is 3.5%. Volker raised it to 21% in 1981 to beat inflation
Posted on 3/9/22 at 8:38 am to RiverCityTider
Posted on 3/9/22 at 8:38 am to RiverCityTider
I have to admit this part of finance is not my forte. But I get the basics I think. Bear with me.
So essentially it would be impossible to raise interest rates to combat inflation as it would make our current debt levels unserviceable? So we either deal with a massive default which wrecks the market permanently or the devaluation of the dollar to the point where it’s worthless and it wrecks our economy permanently?
So essentially it would be impossible to raise interest rates to combat inflation as it would make our current debt levels unserviceable? So we either deal with a massive default which wrecks the market permanently or the devaluation of the dollar to the point where it’s worthless and it wrecks our economy permanently?
1
Posted on 3/9/22 at 8:43 am to elprez00
Permanently is a strong word. America's had hyperinflation before (Civil War, early colonial days).
Schiff's intermediate solution is adapting the gold standard. Ron Paul wants gov't out of money period.
Schiff's intermediate solution is adapting the gold standard. Ron Paul wants gov't out of money period.
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