LIGNET: Savers Footing the Bill for the Financial Crisis

Friday, 01 Mar 2013 01:42 PM

By Newsmax Wires

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Image: LIGNET: Savers Footing the Bill for the Financial Crisis
The heads of some of the biggest US banks gather for a press conference outside the White House after a 2009 meeting with President Barack Obama. John Stumpf, center, CEO of Wells Fargo, is at the microphone. (Mark Wilson/Getty Images)
In America and Europe, there is a silent transfer of wealth taking place every day as savings are eroded to fund government spending. Cash-strapped and heavily indebted governments are desperate to hold down the interest rate at which they borrow. This means perennially low interest rates for savers: rates so low that they don’t match the rate of inflation. The result is that retirees are forced to consume their wealth in order to pay the bills.

Click here to read the full analysis, written by Peter Warburton, PhD, only at LIGNET.com.






© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Rush Limbaugh's Call Screener: Liberalism 'Horrific' to Black Communities

Sunday, 21 Sep 2014 22:23 PM

Calling liberalism's effect on black communities "horrific," the longtime call screener for Rush Limbaugh says that for  . . .

Activist Suing Over NYC Refusal to Put Anti-Jihad Ad on Buses

Sunday, 21 Sep 2014 20:00 PM

Activist Pamela Gellar is suing the New York City transit agency for refusing to place her anti-Jihadist ad on the city . . .

Panetta: Obama Wrong on Iraq Pullout, Failure to Arm Syrians

Sunday, 21 Sep 2014 19:36 PM

Former Defense Secretary Leon Panetta says his old boss, President Barack Obama, erred when he failed to leave a residua . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved