FUCK YES THEY DO. End the War on Cash now! Why should ordinary, hard-working people be penalized for saving money?
What does your savings account pay you? It’s probably some laughable shit like 0.000003%. Have you seen the rates for holding CDs? Laughable. Treasury notes? Laughable.
A fucking disgrace.
Inflation averages around 3% a year, so if you’re saving money, you’re actually losing money. I understand and even embrace our consumer society, but come the fuck on.
Earlier this year the joke of a Federal Reserve chairman, Janet Yellen, was even talking NEGATIVE rates! What a nightmare. Negative interest rates mean that you have to PAY to keep money in the bank.
Jesus H. Christ.
We have a pretend, ghost economy with these low rates. Raise them, let the shit hit the fan, and move on. Hell, Brexit was supposed to tear a hole in the economic universe, and look, it didn’t do shit except allow British folks the right to chart their own future as a nation.
Raise the goddamn interest rates now.
Published on September 07, 2016 13:22