Bill Gross is right on the money.
Last night on PBS’s Nightly Business Report, the chief investment officer of the world’s largest bond fund said the government’s low interest is punishing the savers. It makes the seniors poorer.
And I think the current policy on interest rates also makes the government poorer. With less income, poorer seniors will definitely spend less and pay lesser income taxes. In addition, it is likely they will be entitled to more income-based government benefits.
It sure does not look like a win-win situation here. - Ayee
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment