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They’re absolutely not that incompetent. They’re on the pockets of people who profit directly from this.

Follow the money, and all that.

I don’t think business really wants interest rates that high. Without conspiracy theories, a simpler explanation is that this is simply democracy in action. People don’t want the spending reigned in, and they don’t want their taxes raised.

I think in this thread it’s worth posting out that interest rates aren’t actually high historically. They’re pretty normal. They were just wildly low for around a decade or so.

If you look at a 30-year fixed mortgage chart, the <6% rate situation only existed between roughly 2008 and 2021. At no other time in the history of the 30-year fixed rate mortgage was it ever that low. Ever.

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