Past years? We're printing money now faster than ever......

Well we still have the car pooling option and perhaps long lines at the pump. In the early seventies as a farmer I could only get the amount I got the year before.
The bright side about diesel is that we produce a lot ourselves and our friend Canada supplies a big amount of what we import.

States that won't allow refineries should be cut off and do without !

Maybe we should stock up on 1/2 gal jars so we can bury a stock of sugar before the rationing comes. Maybe higher interest rates will ration toilet paper, remember to use less and don't spare even a sheet to anyone !

Wait till we start tariffing countries that buy iranian and russian oil.

Whats got the sky is falling mind set hitting you? Been watching to much main stream news and the communist state you live in finaly take control of your thoughts?

Its not the end of the world and wont get as bad as your acting without some more large and serious contributing factors.

If it does get that bad i can promise a .25% intrest hike isnt the main contributing factor.

I didnt read all the replies yet.
I lived thru the last time when Intrest rates skyrocketed,If I remember right it was in the early 80s around there.They went up to 18% before the crash,and several years before that they were 6 and then 12 around there.
I had a good bunch of money socked away back in those days as I lived in the bush and had no expenses.
Anyone with a pile of money back then did well.Anyone who owed money or lived cheque to cheque were screwed.
These high rates caused massive price increases in everything and these new exorbitantly high prices never went down.It was a new reality.
People with money love high intrest rates.

20% of net farm income last year was government subsidies.


Im not sure im buying what your selling

Well it is good to see there is a consensus that interest going up is a good thing and inflation is bad, lol! More interest on the national debit is good, cheers!

As if our historically low interest rates of past where good for our national debt???? It just kept growing at neck break speed......

Ain't free markets wonderful !

Just the opposite. People with money often leverage their position ie barrow a lot of money. Making more on the investment than the intrest equaling profits making money without tieing up their capital.

You also dont have to pay taxes on borrowed money and it can be a tax deduction instead.

The rich have a lot of money making and saving strategies using borrowed money. They also own business that benefit from low intrest rates and high consumer spending levels when the economy is rolling.

The rich own assets and asset prices go up with inflation generally increasing their net worth.

Conservative Savers that like saving in a bank in things like a cd do well at higher intrest.

When prices fall as the economy slows people with money will do well when they deploy their capital buying assets at a discount price. So in a way I guess they can like high interest rates. But its not an accurate blanket statement at least in my mind. What am I missing?

By increasing our interest rates, most people will purchase less (because their money doesn't go as far). In theory, this will slow down inflation.

I remember the Nixon years when interest was sky high. I also remember the wage and price freeze policy. I hope we never see those days again.

PF,I lived thru it,lol.
High intrest rates on my stack of bonds paid my first house 80% cash.I never looked back and never had debt in my life afterwards.
People with money (the lenders) love high intrest rates.
But it has consequences that very negatively effect the avg joe living cheque to cheque when the bubble busts and there is a new reality going forward.

I think both high intrest and high inflation can be profitable to an individual if your positioned properly

You have to know when to get in and when to get out.

There should be country song written about that lol

Didnt Kenny Rogers write a song like that back in those days .

So what would be a good way to cut the spending, of course we would have to want to first? Since our past philosophy is that inflation is good, I can't see that happening.

Id start with social programs and subsidies to the private sector and subsidies to foreign countries. Im not sure our philosophy has been inflation is good as much as spending and socialism is good. Inflation is just a result of those.

All those social programs will collapse with everything else when the house of cards blows away in the wind.
Once the avg Joe is starving in the street the rich elites will have no where to hide.
Live for today baby.Pedal to the metal.