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Funny thing is that the prime rate dropped 75 BP but the banks pocketed 25 BP for themselves and dropped some lending rates by only 50 BP.
Dec 10 09:19 am
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All Comments by puddytat »Canada Takes Rates to 50 Year Low [View article]
For my money all this lowering of interest rates does is promote more borrowing and more debt. What the world needs.. ESPECIALLY THE USA ... is alot less debt and living within your means. If growth is the sole goal of monetary policy at any cost than we should get alot more Greenspans into the policy making positions. Oh wait... wasn't he the bone head who got us into this mess in the first place.... wasn't he the one who was knighted by the Queen for all he did for the English private bankers. IE the Fed.
Just because higher interest rates were introduced in the Great Depression doesn't mean that lower interest rates will solve the problem especially since there were no derivatives in the dirty 30s. The world has a humongous problem and piling more debt on debt is not solution.