Ran into a bunch of pro russian posts and bots. Gave them so much hell they had to run to reddit admins so now I have a three day ban. Apparently saying "good luck with that 21% interest rate and linking to the song 'speed the collapse" is hate speech.

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[–] [email protected] -2 points 1 month ago (5 children)

“good luck with that 21% interest rate and linking to the song ‘speed the collapse”

You talking about Russia or the US?

[–] [email protected] 8 points 1 month ago* (last edited 1 month ago) (1 children)

Naw. US federal interest rates are 4.5% right now. Much, much, much lower than Russia's 21% national rate. Their economy has been running super hot due to enormous war spending and large wage increases caused by increasing labor shortages.

Servicing 21% loans has made industrial expansion in Russia long-term nonviable. Their whole economy is setup to get them through a few years and hope it doesn't all crash before their war ends.

[–] [email protected] 3 points 1 month ago

Just wait a while. When they get the Big Beautiful Bill through and its effects kick in full force the bottom will drop out. Federal debt will skyrocket and servicing it will become exorbitantly more expensive. It is already getting expensive with all the credit agencies downgrading the US. They will have to print more money to survive. Interest rates will skyrocket.

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