The US Fed kept lowering rates under Greenspam. They are the world's leading economy. Everyone else follows suit.
Buy a home, not buy a home? As banks LOWERED lending standards AND LOWERED interest rates, of course prices were going to go up and of course people saw houses as being more affordable. Why pay rent, people thought.
I am sick of banks and people defending their actions. Someone posted the other day, I think it was Birdman, there are some $246Billion of fines against banks for their actions..... not even sure if that includes the latest shenanigans with the CBA.
Bank executives (especially in the US) get more wealthy and give themselves bigger bonuses, argued to get bailed out after they gave out dodgy loans..... now some are arguing for bail-ins to prop up the banks.
As the crooked ride off in to the sunset with their saddle bags stuffed with riches, the many middle class families are left trying to make ends meet with increasing costs..... now what, "they" have to raise interest rates for the sake of the economy??... it's such a scam.
There needs to be a world-wide investigation of banks...... but will it happen?
