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Greenspan is Mrs. Bates, the mummified corpse sitting in the attic of the Bates Motel; her transgressions (Greenspan's embrace of the so-called "New Economy" in the late '90s) have incensed protege Ben Bernanke Norman Batess) who feels betrayed and erupts in homicidal interest rate slashing tirades.
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A Guardian Money investigation has found that some of the top-paying Isas of yesteryear have seen their interest rates slashed by as much as 98%.
Buy a house you cannot afford and the central bank will cut interest rates to ease your burden.Meanwhile those who have lived within their means and put money aside for the proverbial rainy day, have seen interest rates slashed to 2% in the euro zone, 1% in Britain and virtually nothing in America.
"It is a fault that they themselves cannot escape". Much of that loss came because insurers, during a period of high interest rates, slashed rates to gain as much premium income as possible, expecting investment income to offset likely increases in insurance losses.
Alan Greenspan oversaw the most aggressive interest-rate slashing in the Fed's history, dropping the nation's key short-term rate down to 1.75percentt, from 6.5percentt, with 11 cuts in a single year.
Paul Krugman thinks that today's interest-rate slashing signals that America is turning Japanese, only without all of the goofy double entendres.Sure, America may be ripping off Japan circa 1999, but so is everyone else.
He writes that the O.E.C.D. is effectively saying that "policymakers should stop promoting economic recovery and instead begin raising interest rates and slashing spending".
And what the O.E.C.D. is saying right now is that policy makers should stop promoting economic recovery and instead begin raising interest rates and slashing spending.
A weaker currency and higher interest rates have slashed imports, and pushed the economy towards recession.
Interest rates were slashed to virtually zero, lower than ever before, and then left there.
The effect on Britain was benign: interest rates were slashed, austerity eased and – with the pound devalued – exports recovered.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com