For all of the talk about green energy being the next great source of economic growth The New York Times's Green Inc. blog says that the solar industry is suffering.
The Huffington Post has obtained a memo that it says confirms an alleged deal between the White House and the pharmaceutical industry.
I was informed yesterday by my bank that the interest rate on my savings account has been cut to a measly 1.45 percent so this blog post on the immoral nature of the Federal Reserve and its punishment of savers resonates a bit. And remember, very low interest rates in Japan have failed to provide a substantial boost to that country's economy.
The Federal Reserve is immoral because it's trying to encourage growth-stimulating borrowing? Hey, I know it sucks to be getting lower interest on my savings lately, but you've gotta thing long-term and big-picture. Lower interest for us means it's cheaper for companies to invest which it's cheaper for GDP to grow. Having high interest rates for us doesn't do a thing for us if companies aren't willing to borrow our savings.
Well, while I think the blog I linked to may be over the top, it is useful to remember that low interest rates are not always a good thing as evidenced by their role in the housing boom. It's best if such rates are set by the market instead of government fiat.
I have a BA in International Affairs and MA in International Trade and Investment Policy. I live in Washington, DC and work for a Fortune Global 500 company as a public policy analyst. I can be contacted at 2getrichisglorious-at-gmail.com.
2 comments:
The Federal Reserve is immoral because it's trying to encourage growth-stimulating borrowing? Hey, I know it sucks to be getting lower interest on my savings lately, but you've gotta thing long-term and big-picture. Lower interest for us means it's cheaper for companies to invest which it's cheaper for GDP to grow. Having high interest rates for us doesn't do a thing for us if companies aren't willing to borrow our savings.
Well, while I think the blog I linked to may be over the top, it is useful to remember that low interest rates are not always a good thing as evidenced by their role in the housing boom. It's best if such rates are set by the market instead of government fiat.
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