[quote=briansd1][quote=EconProf]CAR is right about the injustice to seniors who lived frugally and saved up for their retirement, expecting to live off their interest and nest egg. Now they are getting essentially zero rate of return and are rapidly eroding their principal. [/quote]

Would people with nest-eggs rather live with lower interest rates, or would they rather immediately lose 2/3 of their networths because of an economic crash.[/quote]

Well, if they live in CA and own a home, then they sure as heck dont need to worry about property taxes rising 🙂