High Interest Rates Are Healthy, Low Rates Are Poison

from blog oftwominds-Charles Hugh Smith, | ↗ original
The status quo has it backwards: low rates are now essential to prop up the wreckage left from previous doses of default and cascading losses. The economy depends on two related drivers: low interest rates and asset bubbles. These two feed back into one another, as low rates / loose credit enables those marginal buyers who otherwise wouldn't...