SolomonGrumpy t1_iwyyujy wrote on November 19, 2022 at 1:10 PM

Reply to comment by VonStinkelberg in Home sales fell for the ninth straight month in October, as higher mortgage rates scared off potential buyers by ChocolateTsar

That's only part of the problem. QE (the govt adding billions to the market over the past few years) is also a major contributor to inflation.

VonStinkelberg t1_ix1lzkq wrote on November 20, 2022 at 1:16 AM

You're very much correct. Open market activities are another lever, which only incentivizes poor behavior from a concentrated banking sector. Glass-Stegall would remedy many of the issues we have come up against and will into the future. Banks shouldn't gamble with depositors money, yet those bets are effectively insured under current law; they can securitize the next dog shit product or take over-draft fees from broke people, there's no need to risk the entire fucking economy for bonus season.