About That Privatized Social Security
CBS News is running a series on retirement: Can Families Trust A Volatile Market?
In this episode you have people who did what the financial planners told them to do for a comfortable early retirement that they keep having to postpone because they can’t afford it. Imagine what life would be like if Congress had gone along with the Shrubbery’s plan to privatize Social Security. Your retirement being managed by the people who created the sub-prime mortgage mess and the market in the toilet.
In other financial news, Fallenmonk wants to know: Is it Negative? If the Federal Reserve’s overnight rate is 3.5% and inflation is 4.5% isn’t that a negative 1%. In multiple places I have seen the opinion that the Fed is, indeed, paying banks a 1% premium to borrow money.
2 comments
Negative interest is not unheard of, when a currency is in trouble.
And I think we can agree that the currency is in trouble.