Loading ...Obviously, the idiots think they can raise rates to 21% like what Paul Volker did during the 1970s. Unfortunately, it can’t work because US businesses and consumers were a lot better off financially back then.
All the wealth producing tax paying manufacturing businesses gradually went away, off shore. All replaced with tax absorbing wealth absorbing sales and service overhead jobs. Bottom like the whole country is actually poor now and can’t afford the old ways.
I’m sticking to my thoughts after the 2008 financial crisis. Way too many square pegs were shoved into round holes for decades. All the things they did that were not kosher, like looking the other way with Bernie Madoff, illegal immigration, strong dollar policy, off shoring production jobs, no doc liar loans, etc etc culminated in 2008.
Bottom line: “They can’t get away with the old ways anymore”. People and businesses and governments, and NGOs.