Sunday 14 August 2011

Zero interest pushes Grandma over the cliff.

Treasury interest near zero
threatens Grandma.
Seniors can't pay the bills with the interest earned on their life savings and insurance payouts.  Half a percent on $100,000 in the bank is only $500 in an entire year. It was $5000 per year in 2008. Bernanke plans to keep rates near zero for two years.  Those that have money to invest are being shepherded to take risk and those that depend on savings will be broke.    h/t Zero Hedge.
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1 comment:

  1. Brian H15 August 2011 at 10:50

    Grandma should switch to commercial paper, or Apple stock. It's at ¼ the P/E ratio of the market.

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