I am now convinced that the Fed is an ill conceived institution currently run by ivory tower idealists who cannot connect to reality.

I was raised in the country and generally believe that if something doesn’t work doing more of it is not usually the wisest course of action. Virtually zero interest rates (ZIRP) have, to the best of my knowledge never proven to be a positive for anyone but big borrowers (make that governments).

On the other hand ZIRP has proven to be disastrous to a generation of retirees who expected their return on their savings to see them through the retirement years. The only ones that have benefited from ZIRP have been big banks and governments. 

It seems that our government, and other governments around the world, have totally lost touch with the little people’s interest. Maybe it is time for a change. That is what I am thinking going into this election season. Perhaps an unknown entity, and possible disaster in the White House, is a better choice than an entity that is a known and virtually guaranteed disaster.

Just thinking.

 

 

 

 

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