tbf, there's no right answer to "how high should interest rates be?"
If the interest rates are low it causes false demand driving up prices of assets for people who aren't using loans so it forces people into perpetual debt so fuck banks
If the interest rates are high then they're stealing more money from the productive economy so people are in perpetual debt so fuck banks.
There's a really good argument against debts in general. Not an economic one, but a moral one that no matter how inexpensive or expensive the loan is, it's going to have a parasitic effect on society.
If the interest rates are low it causes false demand driving up prices of assets for people who aren't using loans so it forces people into perpetual debt so fuck banks
If the interest rates are high then they're stealing more money from the productive economy so people are in perpetual debt so fuck banks.
There's a really good argument against debts in general. Not an economic one, but a moral one that no matter how inexpensive or expensive the loan is, it's going to have a parasitic effect on society.
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