> In broad strokes, this makes them good for the poor and bad for the rich
The stupidity in this comment hurts my soul.
Let me ask you this, out of the poor and the rich, which one is more heavily leveraged into assets (using debt).
The stupidity in this comment hurts my soul.
Let me ask you this, out of the poor and the rich, which one is more heavily leveraged into assets (using debt).
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I think you've become very disconnected from what the lower middle class is like if you think high interest will help them. The average savings account in the US is well under 10k.
The question is irrelevant; the wealthy may be more likely to be "leveraged into assets" (though, depending on the measure "heavy" relative to, I think you'll find that working and middle class homeowners often win this), but the poor are more likely to be net debtors (including, on both sides, in the credit offset against debt credit held indirectly through holding ownership interests stakes in net-credit-holding enterprises.)
Since low interest rates reduce costs for net debtors and decrease returns to net creditors...