Interest rates were kept absurdly low for years in order to trap business and home owners into acquiring huge debts. As interest rates race up towards normal the cost of servicing loans and mortgages becomes impossible. Millions who bought overpriced houses and flats will become penniless slaves – forever doomed to pay off lifetime mortgages, student debts and mounting credit card debts while finding themselves in a constant fight against inflation – a fight they can never win.
As interest rates rose in England in 2023, the Government generously encouraged banks to extend mortgages…
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Source: Dr Vernon Coleman - MB ChB DSc Read the original article here: https://vernoncoleman.org/