The Fed and Elitists Attack Us Again
By Malcolm Hedges (01/23/08)
Import prices are high because the dollar is in the tank! And thanks to the Progressive whackos much of our gasoline and oil must be imported.
Interest rates needed to be raised by the Fed, not lowered. Lowering interest rates was a pure self-serving power play by the D.C. elites!
That being done, credit terms in many cases would raise along with investment and savings returns.
Not mentioned is that the Federal Government sponges would be forced to actually pay reasonable interest and dividends on their paper!
The dollar would get more value and costs of imports would decrease (Most everything is imported, so most everything would get cheaper).
The credit crunch would get a little kick in the a**, so credit junkies would scream bloody murder!
Hey, I have credit and would get some side effects, but a solid US economy is more important.
This reduction in interest rates will get great election feedback for the Demercrats and Republicrats, but will screw the American populace.
Banks and Credit Card concerns have run wild since the deregulation. They need to be whacked about the head and forced to stop their predatory practices!
Reasonable costs for services should be allowed, but a $38.00+ charge for a service that might cost them $0.50 is outrageous.
33% interest on credit and installment accounts is bordering on robbery.
Likewise any form of taxation on savings is robbery by the government. (That money has already been taxed silly and they want another whack.)
Raise the fed interest rate to 7% or more and let America prosper.
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