Just as one must pay attention to real per capita income, to understand what game the Federal Reserve is playing, you must know the difference between nominal and real interest rates. As Mr. Roberts points out real rates are negative and declining because of inflation even as nominal rates are increasing. In short, by not keeping ahead of inflation, the Fed is propping up the balance sheet of the banks. Which is of course a major theme of this blogsite, that the two untouchables of both Democrats and Republicans are the Federal Reserve, for which John F. Kennedy was most likely assassinated, and the Military Industrial-Security Complex. Study this short article and enlighten yourself to what Bertrand Russell termed the ultimate unit of analysis of the social sciences: POWER. As true today for sociology as it is for Mr. Roberts field of study which is economics.