Ever wonder why the interest on your savings account is so low compared to historical levels? The answer is that the banks are getting cheap money from the government at .75% primary rates and 1.25% secondary interest rates and your money frankly is almost worthless to the banks. By making mortgage loans at about 4% they are making easy money at your expense.
With credit card loans between 13 and 16% they are making a killing and putting you in debt for the rest of your life unless you declare bankruptcy and free yourself of debt slavery.
We have profligate spenders and a profligate government continuing to pump counterfeit money into the economy. Budgeting your money and saving for a rainy day or retirement is being discouraged with almost no returns on savings accounts and inflation constantly rising and stealing what little money you have tried to save.
I see no glorious optimistic hopes for the future of the world economy because we no longer have realistic checks and balances on the use of money in a sane way. How long the money charade can continue before the money bubble bursts is open to question but a day of reckoning is closer than you think.
Forgive almost all debt and start over with a sane worldwide monetary system which has no inflation and the value of money does not depreciate with time. Most important of all money rules which promote responsible money management by individuals as well as governments, banks, and major financial institutions. A radical solution but it may be necessary in the not too distant future.
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