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Apparently the debt is keeping the Fed from raising interest rates as much as they did in 1979 when a similar crisis happened. Raising interest rates would incr
by impure 6mo ago
Apparently the debt is keeping the Fed from raising interest rates as much as they did in 1979 when a similar crisis happened. Raising interest rates would increase the debt servicing costs pushing the US into a debt crisis.
- AnimalMuppet 6mo agoWhere we are now is nothing like where we were in 1979. Inflation was something like 14%. Interest rates hit 20%. Yeah, I know that the last few years were painful after 15 years of ZIRP, but it's not at all the same.