This guy is brilliant. You should watch this no mater how you stand.
Too bad he's not Treasury sec.
I notice he commented on one of our previous dicussions about which comes first, demand or supply. He says supply first.
Another thing he makes clear is that cheap interest rates hurts in the long run.
I was impressed.
BC, I had friends that were cussing Reagan for bringing down rates. They were living on SS and returns from CDs. One jumbo would pay $14k per year.
Now if someone with influence in the Obama administration would read Chris Mayer's article and take it to heart. ................No, they are too smart to do that! And this weekend Treasury Secretary Geithner is giving advice to the European Central Bank?
Now the European Union is sunk for sure!
Maybe he is trying to teach them how to Use Quicken! Or was it another program that caused him to screw up on his taxes? I forget.
Have a friend that used to be an investment bank manager. He said we will pay for the cheap interest sooner or later. He said when it ends it will skyrocket to 20% interest on cars even with good credit. Again......
Reminds me of that one commercial. It goes up, it goes down, it goes up, it goes down. Already forgot what they were saying.
Whoopie.... 20% twice in a lifetime is two times too many!
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