Quote:
Originally Posted by Fire
No, it's time for people to get into more debt. Duh!
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Ha! Yeah, no green text needed on that one.
I understand the normal Greenspanian economic theory of lowering interest rates when you want people to borrow money in order to spend it and kick-start the economy, but the best decision right now for people who are cash-strapped and job hunting is to take the low rates, consolidate outstanding leverage and pay it down.
Because from here its most likely that rates are only going to go up, so if people leverage themselves to the hilt right now they'll get shoved over the cliff when the rates go up.