Why the Fed is vaporizing your retirement savings (and when it will end)… By J. Reeves
September 13, 2016
There’s a clear answer to when your savings account will earn decent interest again…
Never.
That may be a slight exaggeration… but it’s not far off from reality.
As you’ll see, there’s an important reason the U.S. central bank (the Federal Reserve) and central banks around the globe have lowered interest rates to 5,000-year lows… Chart
The U.S. government has a near-incomprehensible debt problem.
The national debt now stands just south of $20 trillion (that’s a 20 with 12 zeroes behind it). The Money Project shared some statistics to help put this staggering number into context. Here are some highlights… Recommended Link
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The U.S. national debt ($19.5 trillion) is:
> Larger than the 500 largest American companies (S&P 500) combined ($19.1 trillion)
> Larger than the total combined assets of the world’s top seven money managers ($18.9 trillion)
> 25 times larger than the value of all oil exported globally in a year ($786 billion)
155 times larger than the value of all gold mined in the world in a year ($125 billion)
> 53% larger than all the world’s physical currency, gold, silver, and “cryptocurrency” bitcoin combined ($12.73 trillion).
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Poster Comment:
Lots of graphs at source.