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| I will get slammed for saying this but what the country could use right now is a healthy dose of interest rate increases. No, not to 15% like the 80's but just a few points higher than current levels.
For one, the social security trust fund is invested mostly in treasuries and guess what? They don't pay squat. So people bi*** about the insolvency of social security but they wouldn't dare raise interest rates a quarter percent to help insure its solvency.
The lower interest rates are the more investors will flock to steady investments like land. If they could get 5%+ guaranteed they wouldn't bother messing around with the 2 or 3% farmland will get them after property taxes.
Also, it isn't ALL bad for farmers buying land, either. You expense the interest on your taxes and the principal will probably be lower to reflect the increased cost of interest.
So there, I said it. The only person that thinks higher interest rates wouldn't be a bad deal. But usually any political administration in power is too chicken little to do it because they don't want any hiccups in the economy on their watch. | |
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