Quote:
Originally Posted by unsunghero
[You must be logged in to view images. Log in or Register.]
Then it was stupid to not anticipate that. I heard about interest rake hike possibilities as soon as inflation was taking off and I’m no banker
And/or they should have moved those funds to other things before they tanked
|
I agree with that but what is
really stupid is the Fed thinking this constant rate increasing is going to curb inflation. That's a play out of the old playbook and it doesn't work anymore, obviously. This inflation is profiteering, with some companies and sectors posting record profits for 2022. They're not raising prices to keep their profit margins equal to pre-covid, they're making record profits which means the price increases are above and beyond what are needed.
And the Fed just keeps raising interest rates like that's gonna solve the issue. Meanwhile banks are failing and the market is teetering on collapse.