Blacknessdefined’s Weblog

The Black Experience in America

Interest Rates Doubled

Folks, it is going to cost more now than ever to borrow money.  Interest rates are doubling. 

Article: Money Market Rates Double

Initially this may not seem to affect the average buyer.  But the financial markets has a ripple or trickle down effect.  The cost of loans and the requirements to get a loan will be more stringent.  Bad decisions made years ago are coming back to haunt the financial industry.  The sad fact is that we will all suffer as a result.  I am no genius but the government bailing out these institutions is us bailing out these institutions.  the government has no money it is our money.  One way or the other we shoulder the burden.

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September 16, 2008 - Posted by | Economics

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