[grania]

Has it occurred to anyone that maybe the problem IS the near-zero interest on savings? That a very big reason that the middle class is no longer a majority of US households is that responsible people can't get ahead by saving? That retirees are getting financially destroyed by no interest on their nest eggs, and that impacts the financial well-being of their kids and grandkids? That the reason wages don't go up is the country is inundated with cheap labor?

I know nothing. But neither do the ones who messed up the economy!

[bubman]

No it’s not zero rates. It’s the Fed trying to manipulate economic activity and behavior. Which is not what it’s mandate is supposed to be. The chickens are coming home to roost an the fed with easy money policy as in Quantitative easing has run out of options. Raising rates in a global recessionary environment is al;l window dreassing. Man we are all in a world of hurt.

[servantboy777]

>>I know nothing<<

Not so...everything you stated is right on the mark. Yes, the middle class is being crushed. BECAUSE of our gubbamints monumental fiscal mismanagement, interest rates have been held artificially low for years. Killing savings of regular ol folks.

You hit the nail on the head.