Overall market commentary
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Discussion
3 Comments
Jul 02, 2014 02:45 PM
Jul 02, 2014 02:54 PM
I pity the people that have retired the last 15 years and their real purchasing power has been cut in half, many of those relying on a 6-8% yield on their CDs, and now have to settle for 1% or so.
Jul 02, 2014 02:13 PM
I feel sorry for them too Martin. Unfortunately you hear a lot of stories now where people are having a lot of trouble trying to live off what they thought would be enough. Higher prices and lower returns on savings rates make it very tough.
In retrospect we should never have allowed consumption to be 2/3 of the economy the last 40 years, probably 50% would have allowed the economy to balance out, but as long as Morgan& Goldman run the world in the West, economic turmoil will prevail!