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Originally Posted by retiredguy123
Interesting post. My point was that some people are savers and some are spenders. I am a saver and always have been. I think that people should have a right to save money. I have accumulated far more money than I will ever spend. Most people want to talk about inflation in terms of their current income and the higher cost of the products that they buy every day. But, to me and other savers, there is a huge deficit between the artificially low interest rates and the inflation rate. The interest rates are artificial because they are not based on the normal supply and demand equation for money. The Federal Reserve is stacking the deck. So, for example, if you have $100K earning a measly 2 percent, and the inflation rate is 8 percent, you are actually losing $6,000 every year in buying power and real wealth regardless of what you spend for food or other essential items. If you have a million dollars or more, the effect is much worse. I am not asking for sympathy, but I think we should encourage and reward savers as a responsible policy.
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Spenders or Savers? That is the only two choices? Seriously? I guess I don't fit in then, just like everything else. Life is seldom black and white, spender and saver, liberal and progressive. Everyone I know has much more complexity than that.