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How Retirees Can Cope With Fed's "New Normal"

Wednesday, December 19, 2012 - 2:12 PM
As you might expect, this Reuters article doesn't provide any silver bullet methods. You probably have heard of these before. The first two involve making sacrifices, and the last three involve risk-taking.

One comment in the article had an interesting idea: we need savers no-spend days to draw attention to the consequences of the endless zero interest rate policy. It's not only hurting seniors who have to cut back on their spending, but also it's hurting the economy when savers have to cut back on their spending.
3
Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,077
1. Wednesday, December 19, 2012 - 2:53 PM
I already have plenty of "no spend" days but it would get more attention it it were a national thing.  I wonder who could put together something like this?
2
paoli2paoli21,372 posts since
Aug 10, 2011
Rep Points: 6,011
2. Wednesday, December 19, 2012 - 3:55 PM
I have always said that if you want change then get a whole lot of people to stop doing something. Someone will notice. Just imagine all of NYC not spending for one day.
1
klinkklink98 posts since
Dec 8, 2012
Rep Points: 265
3. Wednesday, December 19, 2012 - 4:00 PM
Ok. Let's face the reality of this.  If people promoted a "no spend day", I don't think it would mean anything because they know we will just buy more of what we need on the other days so our "no spend day" would really turn into a "double spending" day on the days before.  Just my thoughts on how it would probably work. 
2
paoli2paoli21,372 posts since
Aug 10, 2011
Rep Points: 6,011
4. Wednesday, December 19, 2012 - 4:21 PM
The only way to really make these things work is to boycot a particular company for an extended period of time.  However, other people who felt bad for that company could increase their spending and counter act the boycot.  Just look at the political/policy boycots (think Chick-Fil-et).

Although, a boycot such as I am describing would really be punishing the wrong people.
1
ChrisCDChrisCD70 posts since
Nov 18, 2010
Rep Points: 457
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