Debunking Economics podcast with Steve Keene and Phil Dobby. If you've got a hefty mortgage, these are unhappy times. Poor inflation being very sticky even in countries where they raised interest rates. Who do we blame? Last time it was the financial sector but can we blame it on them this time? And if so, who got us in this mess?
We last had a financial crisis in 2008 (ignoring the pandemic years), and if we’re not in another crisis now, we’re well on the way to it, with mortgages rising, taxes increasing and the price of everything continuing to rise. Your spending power is being hit in three directions. But, isn’t that what central banks want? So we spend less and inflation comes down, theoretically. Yet the banks, who might not be to blame this time, are now feeling the hurt. In fact, they stand to gain from rising interest rates because they can raise their borrowing costs. This week Phil asks Steve, will the banks always win, come what may?
Hosted on Acast. See acast.com/privacy for more information.