Thursday, July 30, 2015

Federal Reserve Judgemnets

The federal reserve announced that the near-zero interest rate will remain unchanged.  Boring, huh?  But y'know, that is their judgement that the economy is doing so badly that practically free money is required to save us from a big crash.  They been saying it's bad for about 7 years now and no end in sight.  Which raises the question of who has been in charge of the economy for the last 7 years?

Old people who need to live off interest payments are scrambling to find anyplace to generate income so they don't die of starvation.  CD's pay 0.01% and savings accounts even less.  So old people buy stocks that pay dividends.  But if the Rodham-Clinton plan is enacted, those same old people will be have half their savings taken if they try to move their money into stocks of the best dividend paying companies, because of course the old people are selfish quarterly chasers.  Actually those old people are chasing monthly returns because otherwise they might die.

It almost makes me think that Democrats hate old people, and want them dead.  That's called being Progressive.

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