All these years weve been told to save our money and put it in a savings accounts or IRAs so we can use it when we retire.Live off the interest they said. Well, all these people that have done that, are getting HOSED. They arent getting any interest on whats in the bank, 1% or less, which means theyre just pulling out whats in there. This has been going on for the last 5-6 years and no one talks about it, not a DEMOCRAT or REPUBLICAN, yet I hear the talking heads say theyre looking out for the middle class. REALLY! So far the only ones that are benefiting from all of these bail outs are the banks and wall street. As late as 2004 you could find interest rates from 4-6% and you can go back further and find as high as 13% in 1990. So lets be conservative and say someone has $100k in their savings and at 6% that would be 6k a year times 6=$36,000 that theyve screwed one person out of. Multiply that that by a few million people and thats a lot of money theyre stealing. Wheres the Outcry? There is none from either side.
Posted on: Wed, 29 Jan 2014 17:42:26 +0000
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