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Mid Michigan | Von, low interest rates have done nothing but harm people who have investments. Lot easier to let your money sit in the bank and earn 12% interest than to borrow a bunch of money and start a business and HOPE to make 12% or less on your money. I remember having CD's at the bank earning over 10% and my passbook was about 6% and I wasn't planning on borrowing any of their money ever. Cost of living was MUCH lower too. I bought an ingition tune up kit for a 9n ford yesterday that cost me $22 dollars. I could have bought that same set in 1989 for about $6 bucks. My pay has probably gone up 30% since the late 80's and the products, fuel, and groceries I'm buying have gone up 300%. | |
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RE: Are the 80's really possible again??
