Quote:
Originally Posted by acropolite
You're right there, look at the state the world monetary system is in. Start with the banks, they've been doing dodgy deals, basically gambling and they've been caught out, their answer, put up interest rates over and above the reserve bank increases so they can legally steal back what they have lost. Makes me madder than hell. 
Regarding the $US, financial commentators are saying the US dollar is simply valued too high. |
And the US government is stupid enough to bail the idiots out, taking the bad debts and leaving the cream for the so called free market .... where's the sense in that - it's just transferring the high risk - unperforming debts to the tax payers , while letting the people who generated the mess in the first place off scot free to keep on doing the dodgey deals .... those big financials should have been allowed to fail rather than being bailed out.
I am so glad I payed out my home mortgage in 2000 and no longer need worry about finding money every month to meet ever increasing mortgage repayments - which went up very quickly (very next day or the same day when official interest rates went up , but were very very slow to respond to reductions in official interest rates.