To understand the effect of no, or very low, interest, think of the billions of dollars in cash that are silently transferred from those who have saved to those who have no cash. The former receive little or no interest from the banks. The latter take out mortgages or car loans at historically low interest rates.
As usual there is far more at the link.
Such as:
About four years ago, the media just dissipated. Gone, buried. Did we notice our newsreaders are virtual government employees? The media is a Ministry of Truth where spokespeople vie for superlatives — a living “god,” a man who creates tingles in our legs and is pictured as a “messiah” on our magazines. Each sermon is a new “Gettysburg Address,” each gesture is Lincoln’s, each new Joe Biden or Hillary Clinton part of the new Lincoln’s “Team of Rivals.”
Journalists are now Photoshoppers of news: Guantanamo once bad, now good; we all grew to stop worrying and to love Predators; renditions, the Patriot Act, and preventative detentions must have gone with George W. Goldstein.
Those noisy free-for-all press conferences are now like Xerxes’s court at Persepolis, where toadies compete with kowtows. “Investigative reporting” is how some reactionary, enemy-of-the-people hacks dig up dirt on a progressive like Sen. Menendez or Susan Rice. The video maker sitting in jail and the 16-year-old American who was vaporized were reactionary troublemakers — and that is all ye need to know.
