[quote=GH][quote=carlsbadworker]These are all stupid ideas. The major issue of US economy is the lack of savings, either at the government level or at the household level. As a result, it has to run huge government deficit and trade deficit (as a result of trade deficit, saver countries like China can invest in US, although mostly in government bond at the moment to make up the lack of US saving).
Any policy to reduce savings or to punish savers would only kick the can down the road and create longer term issues. We need to encourage the savings and reward the savers…something the market is trying to do but the government won’t let it.[/quote]
The real war on savers in NOT low interest rates, but LOW incomes as a result of off-shoring and on shoring of cheap international labor and a going nowhere economy. I have had to live off of my savings the last three years and am down at this point a bit over $100K. That is a REAL war on savers. Force them out of work and make them live off their fat!
Get our jobs and businesses back up and running and the rest will work. Folks will magically start making mortgage payments, tax revenues will magically increase without the need to tax the rich or anyone else for that matter.[/quote]
