By ALLEN EDWARDS, on December 16th, 2015
We are 2 weeks away from the end of 2015, and many people are wondering what the new year will bring. Well, have you heard the good news? According to the FED everything is just great. That is why they decided to raise the interest rates today. But the truth is, things aren’t great at all, and 2016 will be a nightmare that you won’t ever be able to wake up from.
Yes, that is right. The FED actually raised the interest rates after 9 years. The FED of course has been hinting for some time to the idea of raising rates and today they have actually gone and done it. What that means, is that the FED actually believes the lies of the government and that they think that everything is great. But is it really that great?
US Fed raises interest rates by 0.25%
The US Federal Reserve has raised interest rates by 0.25 percentage points – its first increase since 2006.
The move takes the range of rates banks offer to lend to each other overnight – the Federal Funds rate – to between 0.25% and 0.5%.
The move is likely to cause ripples around the world, and could increase pressure on the UK to raise rates.
It could also mean higher borrowing costs for developing economies, many of which are already seeing slow growth.
Rates in the US have been at near-zero since 2008.There are concerns that a rise will compound that slowdown, as higher rates in the US could strengthen the dollar, the currency in which many countries and companies borrow.
It puts US policy at odds with that in Europe, where even easier borrowing terms are being implemented.
The European Central Bank earlier this month cut overnight deposit rates from minus 0.2% to minus 0.3% and extended a €60bn stimulus programme.
The Bank of England this month voted to keep rates on hold at 0.5%, with its next move in interest rates not expected until late 2016.
The US rate rise vote was unanimous.
The US central bank also raised its projection for its economic growth next year slightly, from 2.3% to 2.4%.
That suggests the bank does not think the rate increase will damage growth. US share markets jumped in response.
I spoke with some Walmart employees who have told me that starting in January, all of the full time workers will have their hours cut to no more than 32 hours per week and the part time workers will only be able to work for 5 hours a day for just 3 days. Wow! I could not believe that. And on top of that they are having hiring freezes. That is just insane. How can anyone support a family working for only 15 hours a week at Walmart. When I spoke with the Walmart employees they tell me…