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This is completely inaccurate. Savings account in the US have one of the lowest interest rates in the world, sitting at 0.06% right now [0]. If anything, US cit
by cissou 11y ago
This is completely inaccurate. Savings account in the US have one of the lowest interest rates in the world, sitting at 0.06% right now [0]. If anything, US citizens are rewarded for NOT keeping their money in the bank, investing it anywhere else (but at a higher risk). Complete opposite of what's happening in Europe.
[0] https://www.fdic.gov/regulations/resources/rates/#one https://www.fdic.gov/regulations/resources/rates/#one
- Mithaldu 11y agoKeep in mind that the article talks about negative interest rates.
- cissou 11y agoThe article explicitly says that negative rates are not being passed on to the banks' customers right now, and then goes on to speculate that it will in the future. Deflation means that 1 unit of currency will be worth more tomorrow than it is today, hence it is explicitly rewarding keeping money instead of investing it.
- Mithaldu 11y ago> not being passed on to the banks' customers right now So who is paying them now? And once they get passed on, the scenario will look like what i described, no? I also do not understand why you bring up deflation.
- deleted 11y ago[deleted]