The government lies with its statistics, fiscal profligacy is the order of the day, and taxes soar crushing rib cages. Tra bleeping la. All hail, Chairman Powell! Love that central bank.
Ramzpaul below has a different but brilliant take on where we are. "Brilliant take," of course, defined as stating the freaking obvious and ignoring the lies of the elite. The backbone of the country got squeezed when we embraced the stupid notion of free trade and, it turns out, plainly helping hostile communist regimes in Asia. That became the de facto best thing we sould do with our wealth and dynamism.
And no one in the elite class gave a damn about the massive loss of jobs and intellectual property. And, where borders are concerned, they sure as shootin' didn't give a damn about importing millions of parasites and people whose goal in life is to steal the jobs of Americans and take over our country. Salus populi be damned.
Ramzpaul does a great job in laying out the stark outlines of how Americans have had to adapt to drift, at best, and elite betrayal, at worst.
Joe and Joanne Citizen have had to slash their way through complicated, obtuse elite assurances and rank insanity. But, as Ramzpaul shows, it's possible to strip away the complexity and lay it out for us deplorables.
Negative interest rates: you pay interest to the bank for the privilege of lending your money to that bank (or other institution). If your money sits long enough (not likely with current negative rates), it "evaporates". You pay so much interest to them that your money is consumed paying interest.
ReplyDeleteIt's intended to make you spend because you know your money will disappear. They don't seem to consider the obvious reaction: Don't Do That. Don't put your money in banks or anything with negative interest. If you put your money in the mattress, it will get devalued by inflation, but if you put it in the bank, it gets devalued the same amount AND they charge for the privilege of watching your money disappear.