One Hundred Six: Saving For A Lifetime

Those of us who have been raised to be savers, and in fact have spent a lifetime saving money, are now completely screwed by Mr. Bernanke. This "zero interest rate" (ZIR) bullshit has literally destroyed the retirement income of all those who have supposedly done the right thing all these years. Instead, Bernanke and the Fed made a career of helping those players who have made the riskiest of decisions, and continue to make them. Right now, all we hear about is "QE2", which as far as I can understand is just a means for Ben to pump money we don't have into banks which don't need it to make loans to businesses and individuals who don't want it. Trying to create demand with this economic voodoo is insane. Just let interest rate float up, and let all the cash make a little money, which will be spent, which will in turn ramp up demand.