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Time to bump up that 401k
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<blockquote data-quote="Up In Smoke" data-source="post: 5312358" data-attributes="member: 79702"><p>Fed President Powell said all the way back in 2018 that the treasury needed to reduce it's balance sheet, sell off it's stake in the mortgage industry and raise short term interest rates. The problem was the economy wasn't strong enough. Too many businesses were refinancing debt instead of paying it down. It was better for their bottom lines to take profit and buy back stock or invest in the same market that the government was injecting with capital. The economy was hooked on that 3 o'clock sugar high and the share holders only cared about themselves. Why pay off your credit card buy eating hamburgers, when you can refinance it and eat steak.</p></blockquote><p></p>
[QUOTE="Up In Smoke, post: 5312358, member: 79702"] Fed President Powell said all the way back in 2018 that the treasury needed to reduce it's balance sheet, sell off it's stake in the mortgage industry and raise short term interest rates. The problem was the economy wasn't strong enough. Too many businesses were refinancing debt instead of paying it down. It was better for their bottom lines to take profit and buy back stock or invest in the same market that the government was injecting with capital. The economy was hooked on that 3 o'clock sugar high and the share holders only cared about themselves. Why pay off your credit card buy eating hamburgers, when you can refinance it and eat steak. [/QUOTE]
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Time to bump up that 401k
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