Quote:
Originally Posted by tophcfa
That’s an easy one to answer. Our country, both government and most citizens, are up to their eyeballs in debt. Debt is like crack, and lower rates is like getting the needed crack fix at a much cheaper price. And just like with crack, too much debt never ends well. All the gobbledygook is just a smokescreen because nobody wants to address the real underlying problem.
All the news outlets are giddy about how the lower rates will help everyone in debt, but there is no mention about how it hurts senior citizens who need to earn a reasonable interest rate on their savings to supplement their social security and keep up with inflation.
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Seniors will NOT be hurt by the Fed. bringing down the interest rate. Yes seniors with interest paying investments will get less gain (less money) but that money will NOW go further because things that they want to buy are going DOWN in price.......such as gas prices, food, clothing and etc. NOTE: those prices will NOT go down INSTANTLY, it will take a few months. Prices tend to LAG interest changes.