The retired folks on fixed income have been suffering for more than 10 yrs now. Used to be you could retire with $1million dollars in retirement and live well off of the interest. Not the case at all anymore
I agree it’s not that way any longer.
To be honest, I’d like to be able to save up money and higher interest rates would help.
Your money is worth less and less, and it’s just not growing to keep up.
Both you and Entropy touch on a sore spot.
If you raise interest rates to 7%, doesn’t that raise the costs of just about everything by 7%?
Doesn’t it kill business, kill borrowing, kill your ability to afford things?
You raise interest rates on homes by 7%, and there goes ones ability to purchase a home. Who could afford the payments. Each percentage rise is a hundred or two in increased loan payments.
Do you guys have a solution to this?