I HATE POLITICIANS TRYING TO BRAINWASH OUR YOUTH
It’s disheartening for me to see stories like this one about government officials preaching and giving advice to anyone, much less the youth of our country. It seems Fed chairman Ben Bernanke now has the time to try to deflate the dreams of college seniors. While the stock market and world economy melts around him, he has time to go out and lecture kids about the importance of not thinking that money equals happiness?
Money doesn’t equal happiness? Tell that to all the people looking for jobs now and living off of unemployment. Tell that to all the people who have been looking so long that their unemployment checks have run out. Tell that to all the people that have lost their homes and have futures so uncertain that they don’t even know where they are going to live. Tell that to all the people suffering from low interest rates (which Bernanke is responsible for) who depend on that interest income to live.
While there is truth in the statement that money doesn’t equal happiness, it sure does give a person a lot more options. The more money you make now, the more you will have later on for emergencies. Money doesn’t bring happiness but it can bring comfort, peace of mind, and the ability to have NOT rely on the government.
Bernanke is the one who has driven interest rates as close to zero as they can get. My 84 year old Dad now has virtually no income other than social security because his savings can make about one half of one percent. Thanks Bernanke and all your government cronies.
People are now wondering when will interest rates go up and my answer is not any time soon with this bunch in charge. Government needs to stay out of our lives and to have Bernanke going around giving college commencement speeches lauding getting jobs that make you feel good inside rather than those that make a lot of money is very scary.
The fact is that people in charge now under Obama want you to be dependant on them and government. They DON’T want you to make money because then you don’t need them. They DON’T want you to be successful because then you won’t need to rely on the government for things like social security and unemployment benefits. They WANT you to need them and vote for them. They WANT you to NEED the government.
So, guys like Bernanke who are ruining our country and everything we cherish are out there doing what they do best: brainwashing our youth trying to inculcate socialism into their developing minds. When will we wake up and fight back against them?
LOW INTEREST: SOMETHING IS BETTER THAN NOTHING RIGHT?
Interest rates are low enough now that they are lulling me to sleep. As my CD’s mature from last year, I look online to see what I can get now in interest for the money. Last year I was getting somewhere between 1% and 2% and right now I can’t get anything near that.
After doing the math, when rates get down to where they are now, the incentive to take the trouble to actually leave my house and go to the bank and open up a new CD is almost nonexistant for me. Likewise it is almost not worth my time to pick up the phone or go online to open up new accounts either.
So, I find myself sitting here wondering when will interest rates go up and doing nothing other than letting my money sit there everyday earning nothing. This post is kind of a pep talk for me because even though rates are low, something is better than nothing.
If I don’t want to lock up my money for a year in hopes rates go up, then I should have it in a money market. Again money market interest rates aren’t any better but they do give me liquidity and something that is risk free. Something is better than nothing right?
It really upsets me that you never seem to hear anything in the news about how these low interest rates hurt people. I know many people are in debt but what about those of us that aren’t? What about seniors who have all their money in cash equivalents and are making next to nothing? How are they going to survive? Nobody seems to care and it gets no publicity at all. It’s too bad that we are a nation of debtors instead of a nation of savers.
