i don t think there is one single entity. i think the federal reserve deserves some credit. they wanted to break something, they broke something. i don t think bill: because interest rates have gone up. five points in a year? these assets, bonds, because the bond market took such a hit last year, it is interesting because when you talk wall street investing world when they say the term risk-free. buying bonds. risk-free. part of this is a major part of the dominoes. we can go further back. i go back to the free money. if all that didn t cascade into the economy and sparked the inflation crisis that has forced powell to come to the rescue we wouldn t be in that position in the first place. these are all the consequences of things like that. when you hear president biden brag about these things the
as the least risky investor. if you are an investor, you have to demand slightly higher interest rate to lend money by buying bonds, for example, of barclays bank or hsbc, who have to pass that cost on to their mortgage customers. what we have seen is that the cost of lending to the government has been repriced massively, causing problems for mortgage holders and lenders. that is why your mortgage is going up. there are still some good deals out there, you can get less than 4%, but if you are having to remortgage more than six months away from now, it is very difficult to book a new loan on today s rates. and today s rates aren t likely to be here for that long. it puts mortgage holders who are coming off their five year fixed rate deals or two year fixed rate deals in a lot of difficulty with this unexpected jump in the cost of borrowing.
this. they definitely don t want you looking at the history of the soviet union and that is why that history is no longer taught in schools. instead, they want you to watch reports like this and in fear give them total control over your economy. the shifting and shrinking school lunch menu. supply chain disruptions and the spiraling cost of key ingredients has forced school districts to pull back or make substitutions. at some schools, no more hamburgers or chicken patty sandwiches due to problems and the price of buying bonds and ketchup, a new service of school districts nationwide reveals 97% of meal programs reported challenges with higher costs, while 98% acknowledge problems getting some menu items. the supplies and the ingredients, costs are poised to rise again for your school s july 1st, when an emergency measure and acted at the start of the pandemic expires. tucker: so we are not shilling for big business here, we do not work for joe biden. we don t have to. in fact, we
world is different for some reason. it could be. you know, we re in uncharted territory. we ve had the highest inflation since forever, the lowest interest rates since forever, the biggest deficit since forever, since world war ii, so all of that together is a recipe for, you know, risk off, betts and befuddlement for economists. paul: but it s hardly reassuring to say, well, maybe they won t have to go as high on rates because we ll be in a recession. [laughter] so, i mean, that s the question i have for you. as the fed moves, you know, they ve been zero-bound for so long and they ve been buying bonds, they re still buying them, right? they re not going to stop until next month. they ve been doing that for so long, how much of a financial dislow dislocation and perhaps slower growth are we going to see as they go back up the ladder? well, we re going to see, you know, really slow growth, the question is when does the fed
about the bill actually foresaw a tremendous amount of very progressive macro policies. that no one seems to want to take credit for. because the environment right now is very uncertain inflations are high and people are pitstop about. it i think you make a good, point i stand by everything we did. i stand by the stimulus checks, i stand by the american rescue plan, i stand by infrastructure, i stand by having investments in childcare and climate. and yes, obviously inflation has to be addressed. but that is probably the feds issue. they have been buying bonds. the fed needs to deal with that. not that we have some politics hidden in fiscal policy. we are helping the working class. let s talk about democracy. today they said they re going to try to work towards passing some versions of the bill that passed the house to sort of refortify american democracy. it s unclear whether they can clear the filibuster or go around it. that aside, what is your perspective as these january