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  • Bring Credit Card Interest Rates Down To Stimulate The Economy

    From Intelligent Party@21:1/5 to Intelligent Party on Thu Oct 1 14:06:23 2020
    XPost: alt.politics.usa.congress, alt.atheism, talk.politics.misc
    XPost: alt.politics.usa.democrats, alt.politics.usa.republicans

    On 10/1/2020 11:16 AM, Intelligent Party wrote:
    Bring credit card interest rates down to stimulate the economy...

    Make the max credit card interest rate "Prime + 5% "

    This would presently be 3% (Prime) + 5% = 8%

    The Prime rate presently is 5%, which equals the Federal Funds rate + 3%


    Should say:
    "The Prime rate presently is 3%, which equals the Federal Funds rate + 3%."

    Yet Prime is 3.25%: https://institute.jpmorganchase.com/about/our-business/historical-prime-rate

    The Federal Funds rate presently is 0%

    And the Federal Funds is 0%-.25%: https://apps.newyorkfed.org/markets/autorates/fed%20funds

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  • From Don Kresch@21:1/5 to All on Thu Oct 1 20:01:59 2020
    XPost: alt.politics.usa.congress, alt.atheism, talk.politics.misc
    XPost: alt.politics.usa.democrats, alt.politics.usa.republicans

    On Thu, 1 Oct 2020 11:16:19 -0700, Intelligent Party <Intelligent@savetheworldmsn.com> scrawled in blood:

    Bring credit card interest rates down to stimulate the economy...

    Make the max credit card interest rate "Prime + 5% "

    This would presently be 3% (Prime) + 5% = 8%

    The Prime rate presently is 5%, which equals the Federal Funds rate + 3%

    The Federal Funds rate presently is 0%



    Let me introduce you to Austrian Business Cycle Theory:

    https://en.wikipedia.org/wiki/Austrian_business_cycle_theory

    Don
    aa#51
    o- DNRC
    Jedi Slackmaster

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