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Savings accounts are basically a negative return due to inflation, even if your credit union will do 1.25%, inflation is still 1.6% to 1.7%. We need to mobiliz
by posguy 9y ago
Savings accounts are basically a negative return due to inflation, even if your credit union will do 1.25%, inflation is still 1.6% to 1.7%.
We need to mobilize this capital back into the economy, rather than letting it languish in the financial markets, guarded jealously by a handful of people. The economic stimulus it would provide could easily help kickstart and sustain waves of growth and development, though we should not repeat the errors of the past (urban sprawl, heavy investment in infrastructure in dying suburbs).
The last two were borne of an era where sprawl was supposed to distribute the white populace so as to allow some to survive nukes, and it has run its course and proved to be unmaintainable (look at Livingston, TX).
- creaghpatr 9y agoI think most people in the middle class or lower have debt rather than savings so they directly benefit from inflation (while also being directly hit by inflation in terms of purchasing power)