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

Ken Tumin
Ken Tumin   |     |   5,687 posts since 2009

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.




paoli2
paoli2   |     |   2,148 posts since 2011
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?
klink
klink   |     |   151 posts since 2012
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.
paoli2
paoli2   |     |   2,148 posts since 2011
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. 
ChrisCD
ChrisCD   |     |   123 posts since 2010
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.