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73% Of Adults Think The Benefits Of Low Rates Outweigh The Costs

Friday, June 15, 2012 - 1:55 PM
This US News article on low interest rates and retirees mentions some interesting stats on the popularity of the Fed's low rates policy:
Most adults support this policy, with 73 percent of working Americans agreeing that low interest rates are good for borrowers and the benefits outweigh the costs, according to a recent Wells Fargo and Gallup survey.

As you might expect, fewer retirees support this policy:
Only 47 percent of retirees think low interest rates are good for borrowers, while 43 percent say low interest rates primarily hurt investors.

Even 47% seems high, but I guess it could indicate that most people (and many retirees) don't have much savings.
3
Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
Rep Points: 125,708
1. Friday, June 15, 2012 - 2:25 PM
Most here are crying in their beer as far as not making enough interest on their savings. Today you cant get much more than $100 bucks a month on a $100,000. Having that kind of savings is hardly putting them in the poor house.
2
RicochetRicochet135 posts since
Jan 19, 2010
Rep Points: 367
2. Friday, June 15, 2012 - 3:40 PM
Every time I read about 50-somethings with $25,000 in their retirement savings accounts, I get all nervous and jerky. Maybe I'm paranoid, but why do I think the "under-savers" will be the next bailout cadre? I can't wait for Bernie Sanders to propose a "wealth tax" on folks who have saved to rescue those who have not.
3
BozoBozo137 posts since
Feb 14, 2011
Rep Points: 944
3. Friday, June 15, 2012 - 4:11 PM
Bozo:  We already have something in the system for those who don't save enough.  It's called WELFARE and Food Stamps!  I'll be a fried turkey before I will stand up to being penalized for penny pinching all my life just so I could take care of someone who spent their money on fancier cars, homes, shoes, etc. etc.!  They try what you mentioned and you might see seniors in wheelchairs rolling all over the White House!  Our country is becoming "worse" than socialized imo and we need to get it back in control!
2
paoli2paoli21,406 posts since
Aug 10, 2011
Rep Points: 6,152
4. Friday, June 15, 2012 - 6:12 PM
The ones who find the low interest rates good are the ones who have refinanced their mortgages from 8% to 4%. The borrowers are happy with low rates -- they benefit at the expense of the savers. 

And then we wonder why we have such a low savings rate in this country.
1
me1004me1004374 posts since
Jan 16, 2010
Rep Points: 2,603
5. Friday, June 15, 2012 - 6:19 PM
Meanwhile on the other planet while us regular folks are arguing among ourselves...

“The 40 richest people on the planet added a combined $15.7 billion to their collective net worth this week as markets rose on speculation that central banks will take steps to boost the global economy.”

World’s Richest Gain $16 Billion as Global Markets Rise - Bloomberg

Of course you know what those "steps" are don't you? More quantitative easing of course. It's heroin to the markets, they are addicted to more and more easing, which is a death penalty to savers.
1
ShorebreakShorebreak2,696 posts since
Apr 6, 2010
Rep Points: 14,620
6. Friday, June 15, 2012 - 10:35 PM
Not heroine but euphemisticallly referred to as "socialized finance" per Jim Grant.
1
CraigPDCraigPD94 posts since
Jun 12, 2010
Rep Points: 336
7. Saturday, June 16, 2012 - 8:47 AM
Please notice that it was 73% of "working Americans" who preferred the lower rates.  Sure because they still have jobs and are probably younger and still buying homes, cars and all that nice stuff seniors and retirees "used" to buy! But from what I hear, less are getting loans because they fear for their jobs and futures and even "they" are cutting back on spending.  Poor Bernanke just can't get it right no matter what he does!

Craig:  I just finished listening to the Grant video and especially the one by Ron Paul.  Do you have any idea "why" You Tube kept removing it?  Was it the content of his message?  Everyone may not agree with Ron Paul but he does have a right to be heard.  I have a feeling many voters will be writing in "Ron Paul" on their ballots this year. I was just wondering what is the deal between Ron and the You Tube battle. Thanks!
1
paoli2paoli21,406 posts since
Aug 10, 2011
Rep Points: 6,152
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