Webmaster Forum

Go Back   Webmaster Forum > The Webmaster Forums > Forum Lobby > Controversial Social Issues

Controversial Social Issues Discussions concerning controversial social issues. Topics include politics, religion, culture, social and economic issues, etc. Respect required at all times.


Reply
 
Thread Tools Display Modes
Share |
  #1  
Old 10-20-2009, 10:43 AM
Franc Tireur Franc Tireur is offline
Contributing Member
 
Join Date: 08-15-06
Posts: 10,109
iTrader: 11 / 100%
How Uncle Sam is killing your savings

This is a quiz. What do the record-high Wall Street bonuses have in common with the record-low yields for savers?

Answer: They show yet another way that prudent people, especially those living on fixed incomes, are being screwed by the government's bailout of the imprudent.

Here's the deal. The government is spending trillions to keep interest rates down in order to support the economy and prop up housing prices, and those low rates have inflicted collateral damage on savers' incomes.

"It's a direct wealth transfer from savers and retirees to overly indebted borrowers," says Greg McBride, senior financial analyst at Bankrate.com.

Since October 2007, when government intervention in the financial system began picking up speed, yields on the ultrasafe one-year and five-year investments that many retirees favor have tanked.

Two years ago the average yield on a five-year federally insured bank CD was 3.9%, according to Bankrate.com. Now it's 2.2%, a drop of more than 40%.

Yields on one-year CDs have almost vanished: 0.92%, compared with 3.6%. On five-year Treasury securities, yield is down to 2.3% from 4.4%. On one-year maturities, you get a minuscule 0.3%, down from more than 4% in 2007.

http://money.cnn.com/2009/10/19/news...ion=2009102013
 
Reply With Quote

Advertisement

Advertisement

Go Back   Webmaster Forum > The Webmaster Forums > Forum Lobby > Controversial Social Issues

Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Godaddy Coupon Savings (especially for .co.uk) 8everything Domain Name Forum 7 07-20-2009 02:21 AM
GoDaddy Savings Codes…….. kaos87 Domain Name Forum 8 05-13-2009 07:45 PM
Our success is killing us coberst Controversial Social Issues 3 11-10-2007 10:58 AM


V7N Network
Get exposure! V7N I Love Photography V7N SEO Blog V7N Directory


All times are GMT -7. The time now is 11:53 AM.
Powered by vBulletin
Copyright © 2000-2014 Jelsoft Enterprises Limited.
Copyright © 2003 - 2018 VIX-WomensForum LLC