It’s been a crazy two weeks, hasn’t it? The health concerns, markets, price of oil, And the weekend isn’t providing much in the way of relief. Now the Fed is dropping interest rates to zero for the first time since 2008 (though that cut lasted until 2015).
The cheaper borrowing may provide an incentive for businesses to borrow or start new programs or build or expand. However, workers feeling the financial crunch that business closures will cause won’t find much hope in a lower Fed rate.
Fear is fear. That which we don’t understand keeps us fettered. While the world waits for answers and relief, each of us throwing our own matchsticks into the night, we expect that the morning will come soon. We hope for it, and we wait for it.
Been looking at the economics of the nation this week. Will give it more thought as the year progresses, especially with the new Fed Chair. A low rise in interest could turn out to be a good thing.
But I’m considering debt, and the need of money being bondage. Once you take on debt, you start working for someone else.
The Communist system has been used in similarly broken states as Capitalism. Bartering, maybe, was a more honest system. But the accumulation of goods led to some or one wealthy barons working less and exerting control over others.
An imperfect system is the only way to maintain order. Too little pay and you have revolt. Too much, and the need to work is greatly reduced. The majority barely making survival pay (needing debt) induces conformity.