Low Rates: The Sweet-Tasting Poison The economy today is addicted to low interest rates like a junkie is hooked on their next fix. Cheap money fuels asset bubbles—overvalued houses, bloated stock markets, and speculative nonsense like crypto scams—and keeps the façade of growth alive. But make no mistake: this growth is a mirage, built on the backs of middle-class savers and taxpayers. Take a trip back to Housing Bubble #1 (2003–2007), where low rates and loose credit unleashed a frenzy. Marginal buyers—people who could barely scrape together a down payment—were lured into overpriced homes by lenders who knew the government would bail them out if it all went sideways. Meanwhile, developers threw up cookie-cutter subdivisions in the middle of nowhere,…
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