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REPORT ABUSIVE REPLY
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Message Subject
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This Simple Graph Compares Reagan’s and Obama’s ‘Recoveries’
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Poster Handle
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Anonymous Coward |
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Post Content
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That money has not reached the average person. It's called money velocity.
Quoting: Anonymous Coward 52197375 The average person has access to cheap money if they want right now with the historically low interest rates, unless they are maxed out with borrowed money already. I lived through the '70s and '80s and can tell you the money spigots were not open like they are now.  We bought our acreage in 1985, needed 25% down and no bank wanted to loan us the cash for it. If it was today I could purchase it with little down and get a loan just about anywhere. At the same time all the farmers in the Midwest were struggling and going bust because they could not get the operating capital they needed from the banks. I lived it, and I remember. Access to money is easier today than in Reagans time. Also please remember there is a bigger world than just your experience. A REALLY BIG WORLD. Mortgage companies are laying of 10's of thousands of people. If money was being given away they would be hiring not firing. Think about it.
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