High Interest Rates Are Hitting Poorer Americans the Hardest

4 comments

1. No shot sherlock. Inflation also hits the poor the hardest

2. If interest rates were dropped it would only send housing costs soaring. The whole point of higher rates is to tap down inflation.

   Poorer Americans would be hit worse if rates are dropped too quickly too soon.

3. There’s a really funny misbelief in the US that poor people are poor because they are bad. But the reality is that poor people are poor because people with money are bad. Wealthy people invented the idea that poor people are bad so that wealthy people could justify causing poverty. One in five kids in the US live in poverty. That’s a policy choice.

   >Depravity in the oppressed is no apology for the oppressor; but rather an additional stigma to him, as being, in a large degree, the effect, and not the cause and justification of oppression. -Herman Melville

4. Inflation’s up 18% over the last 3 years. Maybe that’s got something to do with it.