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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (107145)1/23/2010 6:39:16 PM
From: Hawkmoon  Read Replies (1) | Respond to of 116555
 
Low interest rates do not benefit anyone but those at the very top of the economic chain. Interest rates set by the free market would benefit everyone.

Mish.. I don't understand something about your position.

You seem to applaud eliminating debt in order to create a sound economic base.

So why do we need interest rates if no one is permitted to go into debt?

Seems like a real contradiction to me.

Hawk



To: mishedlo who wrote (107145)1/24/2010 7:34:57 AM
From: ecrire  Read Replies (2) | Respond to of 116555
 
People took on financial obligations beyond their means. Of course low interest rates helped but the crux of the problem was the greed and stupidity of the people who blindly fell into the money trap. Blame them; not low interest rates.


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