All I know

Is that back in 2021 when interest rates were extremely low....

I had tons of IRL friends age 20-40 who were just absolutely killing it...

General contractors, real estate agents, mortgage brokers, cleaning company owners, cryptobros, mechanics, car dealership owners, digital marketers, freelancers, guys in various sales roles, all sorts of stuff...

And today, with interest rates sky-high, I know virtually nobody age 20-40 IRL who I would say is really killing it financially in the same way they were then...

I'm obviously aware of all the intellectual arguments for why the Fed needed to hike rates to combat inflation...

But it seems to me that this austerity-LARP we've undergone the last few years trying to do so has only benefitted a narrow sliver of society at most (mostly boomers and members of the ruling gerontocracy)...

And has been a clear net detriment to the overall health of society- especially those in their prime childbearing years while we are in the midst of a fertility crisis...

https://x.com/rektdiomedes/status/2087576034048618758