Haven’t fact checked this but seems about right. https://nostr.build/av/d02c5506951880acce859c0c9d5695eeed2db4ee30853f89e7d7702cda9da1df.mov
Discussion
Not sure about the US but in Canada the interest rates were astronomical in the nineties.
Should’ve watched the whole video before my note.
It’s about right except what he said about it being about the past 4 years.
He doesn’t understand economics 🙄
Unfortunately the medicine has to be cold Turkey
Cold turkey? What you mean?
Yeah he doesn’t get that the interest rate suppression was mainly responsible for the limited burden in the 2019, but tons of new money (debt) had been issued. The problem has been building for a long time, 20 years minimum depending on what exact imbalance we’d like to pinpoint.
2019 wasn’t a good era for the monetary system, it is the interest rate manipulation we are having to pay for today.
Guy's hair looks retarded. The boy band look has got to go. Hard to focus on the video.
This is exactly what happens when you invent fractional reserve lending and inflate a currency.
First, you make borrowing money for certain assets easier, so people begin to borrow more for the eligible assets, ballooning those prices against the rest of the economy.
Then, the debasement of the currency begins to build a preference into the eligible assets which will hold their true value against inflation.
Then you breed an economy and legislation that favors investment in said assets, creating what we know of as the real estate industry, the value in which is deceptively mixed, being both real and artificial.
That will correct itself when the debt banking paradigm is dissolved and hard money is reestablished. In the meantime, however, it would be foolish to resist the system and not invest in real estate. Recurring income can't be beat.