dcsimg
 

Savers Appear to Be Getting a Little Bit Angry

October 20, 2009

By Andrew Freiburghouse | Money Rates Columnist

Looking for the best rates on CDs, money market accounts, and savings accounts used to be pretty fun. Now, for many savers, it's downright frustrating.

Bank rates on deposit accounts, that is, are frustratingly low. And now, with the specter of inflation rising, savers are starting to get a little bit angry.

Inflation Good for Debt

Who are savers starting to get a little angry at is the question.

The answer to that is two-fold: one, the U.S. government, and two, people who live off debt or have lived off debt up to this point.

When inflation goes up, debt becomes less of problem. "Cheaper" dollars means, theoretically, that the burden of debt is lessened. The more money there is available, the quicker the debt gets paid or settled.

That's great news for debtors, including the U.S. government itself.

Retirement Savings Week: Let Saver Voices Be Heard

Savers are the losers in this scenario. If you save your money and the value of your goes down because there's more of it in circulation, that hurts.

This week is Retirement Savings Week. It's time to let your voice, as a saver, be heard. It's your money that's at stake. Fight for its right to be worth more in the future than it is now.

Your responses to ‘Savers Appear to Be Getting a Little Bit Angry’

Showing 0 comments | Add your comment
Add your comment
(required)
(will not be published, required)