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<blockquote data-quote="Glocktogo" data-source="post: 1972745" data-attributes="member: 1132">If anyone is to blame for the past 15 odd years of economic implosion it&#039;s the FED and their refusal to raise interest rates. The rates are kept artificially low to encourage spending over savings. This unnaturally imbalanced the trade deficit, the savings rate, the buying power of retirees and the coffers of more risky investment schemes. It allowed people to qualify for loans they&#039;d have otherwise never sought, much less been approved for. Ultimately the more stable markets failed to draw any takers and the riskier markets crashed, leaving the taxpayer holding the bag when the FED devalued the currency by giving out free money for those who were &quot;too big to fail&quot;. Until this country learns how to encourage saving and discourage needless spending, it will never change. We&#039;ll be Greece in a few years. <img src="/images/smilies/frown.png"&nbsp; class="smilie" loading="lazy" alt=":(" title="Frown&nbsp; &nbsp; :(" data-shortname=":(" /></blockquote>

[QUOTE="Glocktogo, post: 1972745, member: 1132"] If anyone is to blame for the past 15 odd years of economic implosion it's the FED and their refusal to raise interest rates. The rates are kept artificially low to encourage spending over savings. This unnaturally imbalanced the trade deficit, the savings rate, the buying power of retirees and the coffers of more risky investment schemes. It allowed people to qualify for loans they'd have otherwise never sought, much less been approved for. Ultimately the more stable markets failed to draw any takers and the riskier markets crashed, leaving the taxpayer holding the bag when the FED devalued the currency by giving out free money for those who were "too big to fail". Until this country learns how to encourage saving and discourage needless spending, it will never change. We'll be Greece in a few years. :( [/QUOTE]

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