Quote:
Originally Posted by Rigged
But they also said that inflation is a concern but what vexes me, and maybe some more econ people can explain this but, why do they keep lowering interest rates? Wouldn't that cause inflation? Or am I crazy?
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I'm no economist by any stretch, but you are correct about inflation.
Normally, they would be raising interest rates, but the variable rate mortgages that many were pushed into, are governed by the prime rate.
So, keeping interest rates low, is the band aid to keep millions of people from losing their homes.
In my area, scrap copper is paying almost $3.00/lb.
Theft of wire, plumbing, etc. is becoming common.