If you save anything in modern America, you are an utter fool. The Federal Reserve Bank has set interest rates at near zero for years now, and almost all of the world’s central banks are also pouring out paper currency at near-zero (or below-zero) interest rates.
In the modern world–erected wholly upon a financing model designed to benefit the expansion of government power–savers are punished, while debtors are rewarded. Increasing percentages of Americans (especially Americans at the bottom of the socio-economic structure) are cashing out 401ks, stripping retirement accounts of value, and becoming renters rather than owners.
Now we read that more and more Americans are seeking tax refund advances. The link is here.
And remember that many poor Americans will find in 2015 that even their expected refunds are smaller than ever before, due to the Obamacare penalty.
Stay tuned!
