Rand Paul
👤 SpeakerAppearances Over Time
Podcast Appearances
Well, they're also very young.
Yeah, people get into a gambling problem.
They get into some problem where they don't have money.
But if you say it can be 10%, what does that tell me about my behavior?
I just keep borrowing at 10%.
I might have to stop someday at 30%.
And so the marketplace develops these things, but that price is sending signals back to people.
It's the same way with interest rates on houses.
The president's always like, we need lower interest rates.
Why don't we just fix the price at 2% and tell the banks they can't get more than 2%?
If there's a boom and everybody's buying houses and the demand goes up for houses, prices will go up and the demand for the money goes up.
And as the interest rates rise, then the economy will slow down.
So in 2000, from 2000 to about 2007, the Federal Reserve kept the interest rates low.
And there was this boom in houses.