September 18, 2012
A SMALL AMOUNT OF MEDIA ATTENTION for the Obama-Bernanke war on seniors. “Along with keeping rates low, governments are using a variety of tactics to encourage captive audiences, like pension funds and banks, to buy their debt. Consumers, in other words, are subtly subsidizing governments without even knowing it. Economists have compared this phenomenon to a hidden tax on people’s wealth.”
Note the stories of senior citizens having to go back to work because of low interest rates. That’s been the topic of some of my recent writing.
It’s interesting to me that we’re not hearing more from the AARP on this subject. There’s this from a couple of years ago, but you’d expect them to be shouting to the rooftops this close to an election. Well, you’d expect that unless you’d been paying attention, I guess.