Monday, June 29, 2015

People who invested recklessly being bailed out

What is happening right now is a historical anomaly. Never in the thousands of years of recorded history have we had interest rates at zero or negative. We are destroying the people who save and invest for the future. They are being wiped out at the expense of the people who bought four or five houses with no money down and no job. We are destroying the people that all societies throughout history have needed the most.

When you destroy the investing and saving group, your society, economy, and country has problems. That is what we have been doing. Think of all those people who were saving for the future. They look like fools now, and feel like fools. Their friends who borrowed money are being saved at their expense. 

VIA Marketwatch