https://www.youtube.com/watch?v=fSsriZAvlkU
The Federal Reserve would like you to know that raising interest rates is for your own good.
Inflation's getting out of control, so the solution is beautifully simple: make mortgages more expensive, car loans cost more, credit card debt hurt a little extra and hope everyone stops spending.
See? They're helping.
Apparently, the cure for prices being too high is making money itself more expensive. It's economic medicine where the patient gets a bigger bill before feeling better.
Don't think of it as your repayments doubling.
Think of it as participating in monetary policy.
The experts assure us this is all necessary to cool the economy. Translation: if enough ordinary people cancel holidays, postpone buying homes and tighten their belts, the inflation dragon might eventually go back into its cave.
Meanwhile, governments continue spending, banks continue banking and the people who actually created very little of the inflation get to absorb most of the pain.
But don't complain.
The economists have charts.
And if your mortgage payment just jumped another few hundred dollars a month, remember...
That's the sound of someone helping you.