tag:blogger.com,1999:blog-7534539169157708222.post3993200287210429197..comments2024-03-26T12:19:52.801-04:00Comments on Tea at Trianon: Americans Are Spenders, Not Saverselena maria vidalhttp://www.blogger.com/profile/17129629173535139807noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-7534539169157708222.post-2668605899862929622014-04-04T20:14:21.145-04:002014-04-04T20:14:21.145-04:00Thank the Federal Reserve, and thank Richard Nixon...Thank the Federal Reserve, and thank Richard Nixon for departing from the gold standard, for that inflation. <br /><br />Our government is a dope-pusher, literally shoving consumer credit down people's throats and then touting the purchases made with that credit as economic progress. Most of the people buying $40,000 GM cars with 0-down 7-year loans barely make $40K a year. And don't even get me started on the student loan debacle- to manipulate the fear of falling behind, and reasonable desire to better themselves, of young people who are not mature and experienced enough to know what it means to take out $100K or more in loans that cannot be discharged in bankruptcy, is absolutely criminal, yet this is what our policy makers and their oligarch owners have done to our youth. It sickens me. The North Coasthttps://www.blogger.com/profile/14292115710427172625noreply@blogger.comtag:blogger.com,1999:blog-7534539169157708222.post-84309576087831847332014-04-04T18:50:26.270-04:002014-04-04T18:50:26.270-04:00When I went to Africa in the 1970's to work as...When I went to Africa in the 1970's to work as a missionary, I had a year's salary in the bank. When I came back five years later, I found inflation had made it worth half of what it was.<br /><br />Same thing now.Nancy Reyeshttps://www.blogger.com/profile/14910134058143426327noreply@blogger.comtag:blogger.com,1999:blog-7534539169157708222.post-87734529343489648842014-04-04T03:23:59.879-04:002014-04-04T03:23:59.879-04:00Government policy makers have done everything poss...Government policy makers have done everything possible to drive debt creation and destroy the value of our money by inflation, to the point where it's a wonder anyone has any savings at all. For the past 4 decades, at least, policy has been driven by our financial oligarchy, which has grown disproportionately rich from the expansion of credit and currency inflation, and which would derive no benefit from a solvent, frugal, careful population of savers who are not paying the massive "spread" between the almost- zero interest that financial institutions pay on deposits, and the much larger- and theoretically unlimited- interest charged consumers. <br /><br />ZIRP provides no incentive for savings, to say the least, and it is driving inflation, which makes it impossible for families with stagnant incomes to stay even, let alone have a surplus to save. It is extremely discouraging to the average wage earner to watch the value of his stagnant or dropping earnings be eroded by rampant inflation, which I'm sure you do not need me to tell you is far greater than the 2% the Fed says it has yet to meet. <br /><br />The North Coasthttps://www.blogger.com/profile/14292115710427172625noreply@blogger.com