Fed hikes rates to highest since dot-com bubble. The central bank’s key overnight rate will rise to a range of 5.25% to 5.5%. That is higher than it has been in decades.
(www.washingtonexaminer.com)
🤑 MONEY COLLAPSE 💥
We have credit rating companies and if you don't pay your bills, they keep track. Ironically, your rating is positively affected by having debt that you pay on time. A hefty savings account doesn't give you a good rating. It's all very counter intuitive, and when even modest homes cost a half million, few people can save enough.
There's six year financing for cars which cost more than my first house.
Actually paying off one's credit cards is viewed as suspicious activity too. You are not seen as a good consumer if you do that.