What is the median household income in the US? A crisis spanning multiple generations and the taboo of household income.
Household income is a taboo topic even though people have a visceral enjoyment of spending their hard earned money. As we go out and spend during this holiday season many people have absolutely no clue what other family members or neighbors make. Some would argue that household income is absolutely private and I would agree […]
The chastisement of the American saver – Federal Reserve offers a higher interest rate to banking reserves than too big to fail banks offer American savers.
Americans are facing a banking system that is largely designed to go against their best economic interest. Even a decade ago people were able to find a savings account or a certificate of deposit that would keep up with the rate of inflation. Today, most typical savings accounts at too big to fail banks offer […]
Federal Reserve punishes savers by subsidizing big banking bailouts – Two largest U.S. banks offer a paltry 0.05 annual percentage rate while increasing service fee charges and upping loan interest rates. S&P 500 not cheap.
The challenge most Americans are facing is first, trying to save money. If that hurdle is accomplished the next tougher question becomes where the money should be placed. The Federal Reserve by default with a negative interest rate policy has punished savers at the expense of massive debtors. The Fed for many decades since the […]
Federal Reserve punishing savers in low interest rate environment – Since the 1960s 5-year Treasury Bills average 6.5 percent. Today a high yield money market account will get you 1 percent.
Saving money is usually pushed to the background in a debt induced economy built around spending. Marketing firms are designed with the intention of parting you from your hard earned dollar. The housing bubble was a manifestation of a system permeated by easy access to debt and promises to repay current purchases with future dollars. […]