Sunday, April 22, 2012
Sunday, January 1, 2012
Monday, October 17, 2011
Monday, September 26, 2011
Monday, September 12, 2011
Sunday, August 14, 2011
The Fed has promised to keep interest rates at zero. Savings are not really savings when inflation is above zero. You're supposed to trust your money to the market. Of course the market is worth zero and the market should be regulated by the gaming commissions which protect gamblers from making any money.
Anyway, the Fed should raise raise interest rates so that savers could get 5 or 6 percent interest on savings. That won't happen until that rate of return won't do savers any good. Some of us remember when simple savings accounts paid 5 percent. That isn't enough to put anyone over the top, anyone who isn't already over the top, But it would give people an option to stay out of the market and cause a little grief to their brokers. That's a good thing.
Honest interest rates to savers would would really annoy a lot of people. It wouldn't annoy honest people, just bankers, brokers, traders and traitors. That's at least okay.
Friday, July 29, 2011
Have no fear. Congress will come to our rescue and raise the debt ceiling. It won't do most Americans any good. More than likely, it will do harm. I'm sure the bankers will like it. They're just worried that some day they'll have to accept the losses from the half-crashed housing market. And from the next half yet to come. Really though, I have no doubt that Congress will cut Social Security and Medicare as much as necessary to keep them whole. Congress is very attentive to its' real constituents.