October 29, 2011

SOMETHING THAT CAN’T GO ON FOREVER, WON’T: Americans’ Incomes Flat, Spending Up. Yeah, the returns on savings are — by design — nonexistent, but I don’t think we’ll get an economic recovery this way. Just call me one of these critics: “Critics say the Fed is punishing those who play by the rules — those careful enough to set aside money for savings or people who built up a nest egg and are living on fixed incomes that depend on interest.”

I repeat — if this were a Republican administration, the press would be full of sob-story reporting about senior citizens eating dog food because their CD rates are so low.

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