Why do people think the US economy was ever fixed when interest rates are 0%?

[Tierbook]

well the feds pretty much guaranteed to raise rates later this month so there's that.

[Skroe]

Um...

interest rates were cut by Alan Greenspan (appointed by Reagan) and Ben Bernanke (appointed by George W Bush). The last interest rate cut was in 2009. Janet Yellen (appointed by Obama) has not cut interest rates.

Just saying.

Also interest rates are a tool to control inflation / stimulate the economy. They're not an indicator. Your entire point is akin to saying "He's still sick because he still has an IV in him".

[Snorkle]

Okay to the several people who explained everything I didn't ask, thanks, but no thanks. I wanted to understand why the person mentioned Greece, not the US. The person I quoted mentioned Greece, and the problems there are far from mere mass consumption issues. If I wanted to ask about the US, I would not ask about Greece. Thanks.

[primalmatter]

I find people more often then not simply parrot what they are told from the media and their own social circles and when challenged simply add emotional rhetoric rather then facts.

My advice is to just sit back and enjoy the toboggan ride. This decade looks like its going to be a exciting one.

[Spectral]

Buying a Car? If so, those are essentially lies to get you into the Dealership. Almost no one actually qualifies for those 0% rates and those that do qualify usually can pay Cash on the vehicle (in full).

The qualifier for those is usually not very high. They generally require a credit score of ~720, if I recall correctly. You don't need to be particularly wealthy to pay your bills on time and have a high credit score.

Interest in a Savings account? Yeah...for as long as I can remember it has always been near 0% APR

You do not have a long memory. CDs used to have actual yields:



- - - Updated - - -

Also interest rates are a tool to control inflation / stimulate the economy. They're not an indicator. Your entire point is akin to saying "He's still sick because he still has an IV in him".

I think it's a plausible inference for someone to say, "well, I'm guessing that guy's still sick, or else the docs would take the IV out".

Possibly stretching the analogy a bit too far though.