This week saw Dame Janet and her merry band of academic eggheads leave the Fed Funds rate alone.
The best, somewhat oblique comment I saw about this went along the lines of:
If the US economy is not sufficiently strong to accommodate a ONE QUARTER OF ONE PERCENT rate rise, just how weak is it?
In other words, the recovery is nothing like what we’re being told. You and I, fellow US taxpayer, have paid to bail out the big banks, to recapitalize their balance sheets, bring them back to profitability AND to mightily expand the federal government.
How do you feel about that and the fact that no-one has been charged, let alone done time? Yeah. Me too.
Time to go back to basics.
+ Saving is good and necessary, but unrewarded.
+ Independence from the need for any kind of financial aid is our aim.
+ The prize is a distant Budget Horizon, beyond our lifetime 😉
+ Cash-producing work is our lifeline until we have sufficient…
+ Recurrent income from businesses and/or investments.
+ Borrowing is only for you if you know precisely what you are doing, meaning…
+ Debt is bad for almost everyone. Including me.