i find it very unfair and annoying that the govt has the power to set interest rates.
The people who have saved money hoping to get a nest egg to work for
them end up with the short end of the stick. They don't get to
realise the fruits of their labor (savings). Instead they have to
helplessly watch it get eaten away with fees and inflation.
What's this nonsense from bernanke about inflation being good for the
economy? Nobodys savings are safe with this guy running around
handing out money for free and trying to cause inflation. In his
world we should all spend our money asap and get upto our necks in
debt or US govt will spend it for us regardless.
There can be no financial plan with this guy fiddling around with
interest rates. Why do they even control interest rates. Should not
the market be controlling those rates so I can get paid a fair share
for my capital being borrowed.
- posted 10 years ago