I know Bush needs to pay for his war, but how much further will the rates go up?
2006-12-30 05:46:28 · 6 answers · asked by niddlie diddle 6 in Business & Finance ➔ Personal Finance
Ye of short memories - these rates are nothing compared to the Nixon/Ford/Carter era rates.
2006-12-30 05:48:40 · answer #1 · answered by sethsdadiam 5 · 0⤊ 0⤋
What roof are you talking about?? Mortgage rates are up about 1.5% from their lowest level a few years ago. And most credit card rates (at least mine) have gone up by a similar amount. I'd hardly call that "through the roof" as most interest rates are still near historic lows.
Take a course in economics; interest rates are NOT what are paying for the war. I won't argue with you on the war, but you've got the finances all wrong.
2006-12-30 06:02:03 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Factual error: Interest rates have not been raised 16 times in the past two years.
Perceptual errors: They have not been increased by Bush. They have been raised by the Federal Reserve bank. They have been raised to forestall inflationary trends, not to pay for the Iraq war.
2006-12-30 07:18:27 · answer #3 · answered by jerrold 3 · 0⤊ 0⤋
The Fed's interest rates have little or nothing to do with the war. The Fed raise & lower their base rate as a tool to try and control inflation & debt, and to supress what Greenspan so famously labeled "irrational exuburance"...
2006-12-30 05:49:39 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Has nothing to do with the war, it has EVERYTHING to do with inflation. Too high inflation requires you to pay more for stuff you buy everyday. Take a beginning economics course or watch CNBC everyday to learn about the financial markets.
2006-12-30 18:05:58 · answer #5 · answered by Steve R 6 · 0⤊ 0⤋
Raters have stopped going up. Bush's policy has helped our economy a great deal.
2006-12-31 07:50:17 · answer #6 · answered by sm4125 3 · 0⤊ 0⤋