RE: Why so difficult to battle the inflation dragon?
You are viewing a single comment's thread:
I had to smile when you mention inflation is a problem even in Canada as I am Canadian. I'll tell you a little secret...governments don't like raising interests rates either. Governments have big debt which they have to pay and the higher the interest rate the more money the government has to pay as well! However, if they don't raise the interest rate then inflation gets a lot bigger a LOT faster then people lose faith in the money and everyone buys everything as fast as they can and shortages of everything.
I absolutely agree inflation is hurting a lot of people ** A LOT ** ... My father lost his house because of high interest rates in 1984 when they were at 21%. My step father lost his house because of high interest rates in 1992 when the rates were at 15%. My wife thought I was a fool when I locked in my interest rate at 2.69% for 10 years (the life of the mortgage) but I never trust money, never trust interest rates, and know that its really important to take care of your finances.
...... Even if I'm from Canada
Thanks for writing, enjoyed reading your post.
hahaha nice experience...yeah I heard about this problem in the 80s... made by Justin's father, right? People were in a panic that we could get in there... Well, 2.69% was a good fixed
rate that u got, every time that I started a mortgage they offered me more than that lol. But still, interest rates in Brazil are worse! lol, it is around 10% in there! I agree that raising interest rates is important, but don't you think it was wild these last months?
Thanks for the feedback a lot, nice to understand a bit more around in here ;)