Many of the older generations lambast about how they had it tough with interest rates exceeding 17% at one point. But that was a blessing in disguise, as it put an absolute limit on the amount of debt that could be consumed - the economy at the time was not unlike now, where there was little left after wages to pay for good times, etc. However, what those in this group never mention is the fact that the little that they did borrow also become even easier to manage through the years as rates fell.
That rapidly fed back into the economies of the world - a suddenly release of wage buying power, with self-perpetuating investments made all the more possible with the banksters making the most of the golden opportunity and loading up everyone for what they were worth and beyond.
Enter today's radically different world where rates are incredibly low and debt levels are at all time highs. Guess which way things are going to go when interest rates actually begin to lift? Pretty much the opposite of the golden era! To save our bacon and our currency, just prey that China does not have its day of reckoning!
