Originally Posted by pugman
The way mortgage have fallen the past 2-3 years I can't believe anyone has a mortgage above 6% much less 5%
We are at 3.9% on a 30 year.
Credit cards have already adjusted many of their rates upwards of 25% or more. About the only places I know where rates are above 20% are those payday or auto title loan stores.
For discussion sake let's say this guy is right and the market corrects itself by 90% in 3 months. Even billionaires will have more problems than where to put their cash.
I would think half or more of the pension funds out there would cave. People on stock backed-dividend paying retirement portfolios are screwed.
This is why inflated dollars are never good for an economy. They are great for politicians but for the common everyday working person they are an albatross. When a dollar is worth a dollar one knows what something is worth and knows how many it will take to get by. Inflation screws the whole picture.