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View Diary: Peasants as far as I can see (169 comments)

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  •  I wish there was a law that ppl 65+ (0+ / 0-)

    were paid 5% interest on their savings.  In the present situation, many seniors are forced to use principal to survive, which is destroying the life-long plans for retirement.

    I know it's a pipe dream, but I can wish.

    It's difficult to be happy knowing so many suffer. We must unite.

    by War on Error on Tue Dec 11, 2012 at 01:31:12 PM PST

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    •  We don't really want to have special rules (3+ / 0-)

      based on age.
      Many people were suckered into saving money in order to make it available for Wall Street gamblers to play with.
      The federal government giving out free money and paying a dividend to borrow it back was/is a stupid idea.  The Fed has been trying to break "investors" of the habit of expecting to get free income from the float by announcing that the interest rate it charges will not increase for the next two years. In the late nineties and early two thousands, the Fed was jiggling interest rates every three months in an effort to "regulate" the economy. It turned out to be ineffectual, so they've given that up. Since money is a tool, a symbol of value, which has not intrinsic worth (much like an inch or centimeter), there is no good reason to either ration it or ascribe an artificial value to it.

      Projects should be judged not on how much they cost, but on whether they are worth doing in the first place.

      We organize governments to deliver services and prevent abuse.

      by hannah on Tue Dec 11, 2012 at 02:30:00 PM PST

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