Tuesday, February 06, 2018

Low interest rates enabled some bad policy during Bush JR term as well

Hannity blaming everything on Obama. The cheap money of super low interest rates are a problem, but this was happening for the Bush Administration also.

Federal Reserve policy, about the money supply, is pretty much independent of the president. Low interest rates have persisted, mostly to try and push up employment. Maybe shorter workweek and somewhat more modest expectations are better? It's America's addiction to money. Wealth is good, but so is balance. Cheap money has pushed up house values and the cost of living. It's enabled government spending making it easier for whoever is president. This isn't necessarily all bad, but can be problematic. Now, the prospect of wider spread inflation is knocking at the door.

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