In case anyone was wondering what policies specifically started to lead to this. My guess is banking reforms.
In the 1960s, the average 5-yr mortgage rate was something like 7%. In the 80s, it was 20%. Then around 1985, interest rates crashed back down to around 7% and have been steadily decreasing since, with rates now in the 2-3% range.
What exactly changed?
Well for one, in the 70s, the fed's mandate was changed to promote "the goals of maximum employment, stable prices, and moderate long-term interest rates"
Also in 1980s, banks were required to follow the feds banking regulations, whereas before they had more freedom to do things as they wanted to.
The 1980s marked the period where immense bank consolidation and regulatory consistency occurred. There were more bank failures in the 1980s than the rest of the century combined. These failures were due to easing restrictions. Personally, the easing restrictions were a good thing but the fact banks failed led to a consolidation of the industry, which was a bad thing. The government also lowered the restrictions on bank mergers, thus causing even more consolidation. This led to less competition overall in banking. In the late 80s is when Basil I came out. Basil I is an international agreement among banks to keep the same banking regulations. This reduces competition among banks by telling all banks to adhere to the same rules. Imagine if for example Pepsi and Coke got together and agreed to the same rules to conduct business, it'd almost be considered a cartel, wouldn't you say...
I think the issues can be tied to international banking.
Boy that’s a bunch of ugly Riggers
Soyboy faggots.
The left is an utter disgrace, they believe in nothing except eternal victimhood.
Did Big Mike shave his face? Almost passes for a diseased gorilla.
WOW
Michael is the biggest dude there.
Big on the streets, bigger in the sheets
bernie the wanna be populist candidate. More faje than Michelle obama female gender.
Fuck Bernie Sanders, he's a Spineless little worm.
Sarcasm incoming... "excuse me, personal point of privilege. It's actually called bottom surgery." 🤡
Found the Bernie bro.
Yeah he really got “fucked over” by shilling for the DNC and agreeing to take high level government positions
In case anyone was wondering what policies specifically started to lead to this. My guess is banking reforms.
In the 1960s, the average 5-yr mortgage rate was something like 7%. In the 80s, it was 20%. Then around 1985, interest rates crashed back down to around 7% and have been steadily decreasing since, with rates now in the 2-3% range.
What exactly changed?
Well for one, in the 70s, the fed's mandate was changed to promote "the goals of maximum employment, stable prices, and moderate long-term interest rates"
Also in 1980s, banks were required to follow the feds banking regulations, whereas before they had more freedom to do things as they wanted to.
The 1980s marked the period where immense bank consolidation and regulatory consistency occurred. There were more bank failures in the 1980s than the rest of the century combined. These failures were due to easing restrictions. Personally, the easing restrictions were a good thing but the fact banks failed led to a consolidation of the industry, which was a bad thing. The government also lowered the restrictions on bank mergers, thus causing even more consolidation. This led to less competition overall in banking. In the late 80s is when Basil I came out. Basil I is an international agreement among banks to keep the same banking regulations. This reduces competition among banks by telling all banks to adhere to the same rules. Imagine if for example Pepsi and Coke got together and agreed to the same rules to conduct business, it'd almost be considered a cartel, wouldn't you say...
I think the issues can be tied to international banking.
Unhelpful blackpill effect. Those vermin are a rank minority. Worry about palpably obvious FRAUD instead.