Tuesday, October 5, 2010

"Nixon can wipe his

a$$ with this social security check". I recall overhearing the remark back in the 70's from my grandma who was talking with adults in another room. I wasn't supposed to hear it, but I did. Why do I bring this memory up now? Because of the latest round of stupid Keynesian tricks. Tonight the Bank of Japan has lowered rates to 0 to .1%. This is just getting silly. Governments are tinkering with rates at these tiny levels while the masses continue to endure lean times. Back in the day my grandmother's social security check was about 100 bucks a month. She had every right to view it with disdain after a life of hard working, including raising two boys during the depression. Fast forward to today and seniors in 2011 are getting nothing extra in their checks while our government plays around with near zero rates (screwing savers). It makes no sense. Entitlements for the banksters will trump the average elderly person everyday.

1 comment:

traineeinvestor said...

Yeah...This is the fiscal and monetary equivalent of rearranging the deck chairs on the Titanic.

How long before the powers that be realise that not no country, no matter how large or wealthy, can continue to live beyond its means indefinitely.