Pinning the “Tale” on the Donkey/Elephant. By Gene W. Edwards. Posted 9/5/2024.

Did you hear? Donald Trump has been arrested?

Aw, fake news again. He was tired — he never gets tired? — but he got a rested, got enough rest. Now he’s back on the campaign trail again. Unfortunately, trail and trial sound alike.

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When the Federal Reserve meets on September 17–18, I predict they will lower the “Fed funds rate” to banks by a whopping one-half of 1%, not 1/4th or 1/8th of 1%. Inflation is now close to a modest 2%. Presently, the Federal Reserve charges banks 5% to 5.5% for money (usually digital money, not physical money), which banks can then loan. Several interest rate lowerings may be coming from the Fed in 2024 and 2025 now that COVID-19 is mostly over. We could use a 1% cut right now!

Most home loans are for 30 years but watch lower rates for 15-year mortgages and for car loans, at least for people with good credit. Those rates are much lower than 7% for those with preferred credit scores — but the millions with bad credit are paying near 30% interest on their credit cards.

What NOBODY wants to talk about — the elephant in the room — is the USA’s enormous national debt, now running at two-trillion-dollar additional deficit per a year. Here’s that number: $2,000,000,000,000! It is equal to 10 rows of $100 bills from the earth to the moon (8,000 per mile, 250,000 miles, X 100). See usdebtclock.org. The Republicans’ elephant and the Democrats’ donkey…