141: Bernanke's War Against Savers

This morning on CNBC Wilbur Ross made a very prescient remark.  When asked how long and how much Bernanke would extend QE, WR said eventually the government would levy an outright tax or fine on savings.  As ludicrous as this sounds, I think it is possible.  There has already been a tacit penalty on savers for six years without a let up.  And there is no end in sight.  What will happen when the next recession occurs and the ZIR policy is already in effect?  The government will be desperate to induce the rabid consumption on which our economy and government are based.  One answer, clearly, is to fine people who refuse to participate in irresponsible consumption.