The unfairness of Low Interest Rates for saving accounts

There are many we we allow ourself to remain in captivity.

“You have to in it, to win it,” is a classic example. It tries to apologize for national lotteries, instead of fostering a saving mentality, as a sign of maturity and self control, not to mention economic independence.

Poor people remain poor due to  the Lotto mind set, and lack of appropriate self funding retirement government-run plans. And lack of financial instruction at the grade school level is a bad oversight.

However since the 2008 economic crisis brought on by no funding of federal programs for oversight to maintain  supervision of unprincipled greed.

Unfortunately interest rates for small saving accounts do not keep up with the true cost of living. This is an invitation to a disaster on this scale of the French and Russian revolutions .

Using this excuse : These so called “natural market forces,” is a fake rationale. Not to mention barely human in its insensitivity to human suffering.

But for our own security, we need to successfully address this social problem.

 

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About andypolon

Long time professional guitarist. Currently a computer techie. I came of age in the 1960s. Successfully avoided being drafted for the Vietnam War. Raised in a "left of center" cultural household. I was very lucky in that Manhattan was a true melting pot.
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