General Discussion

leveymg

(36,418 posts)

29. It's the same reason the Fed bails out banks with billions and not a penny more goes to poor people.

Thu Dec 20, 2012, 01:29 PM

Dec 2012

The purpose of both the Fed and the Treasury bailouts is to keep the banking system solvent and investors well-compensated. To hell with the hindmost, seniors on Social Security don't make Wall Street rich and don't maximize returns - literally, that's the thinking behind the Chained CPI for SS.

It's called Capitalism. But, you knew that.

Edit history

Please sign in to view edit histories.

46 replies

= new reply since forum marked as read

Highlight:

Chained CPI for SS = BAD. Fed Short Term Rates of 0% = GOOD. Can someone explain this to me? [View all] Yavin4 Dec 2012 OP

Many seniors are on fixed incomes Harmony Blue Dec 2012 #1

Well ... GeorgeGist Dec 2012 #2

No. It's Not. 0% Interest Rates Are Bigger Cuts to Seniors Than Chained CPI. Yavin4 Dec 2012 #5

That is not true at all Harmony Blue Dec 2012 #6

Most seniors aren't rich enough for that to matter. reformist2 Dec 2012 #23

Any stats on the billions seniors have in their savings accts? leftstreet Dec 2012 #3

Here's some data Yavin4 Dec 2012 #12

No. Stats on how many seniors are filthy rich with savings n/t leftstreet Dec 2012 #15

So seniors have an average of $300,000 in savings, but the typical senior has far, far less. reformist2 Dec 2012 #26

If you have assets you don't get sympathy points here. dkf Dec 2012 #4

Is this a serious post? Harmony Blue Dec 2012 #9

Well, don't see that Kelvin Mace Dec 2012 #21

The point was to force people in 0% interest to move to riskier assets. dkf Dec 2012 #24

Well, some income Kelvin Mace Dec 2012 #34

That was the Fed's doing. dkf Dec 2012 #43

Most people on fixed incomes use the majority of their monies Harmony Blue Dec 2012 #36

I am, and have been vocal about it. MannyGoldstein Dec 2012 #7

Fed 0% interest rates are on money loaned to banks and large financial institutions. Agnosticsherbet Dec 2012 #8

Fail Morganfleeman Dec 2012 #28

Why be both rude AND hopelessly wrong? cthulu2016 Dec 2012 #31

No they are not inextricably linked...Your post is marked F- Agnosticsherbet Dec 2012 #46

Interest Rates of Zero Stimulate the Entire Economy On the Road Dec 2012 #10

This is based on a basic economic misunderstanding cthulu2016 Dec 2012 #11

What Banks offer as interest rates on savings and CDs is based on the Fed's Interest rates Yavin4 Dec 2012 #16

Yes, voluntarily. If the Fed raised rates today every bank would simply cancel that policy. cthulu2016 Dec 2012 #27

The Fed's Interest Rates Policies Is More About Bailing Out The Big Banks Yavin4 Dec 2012 #32

Your argument is the same as when RWers say the stimulus didn't work cthulu2016 Dec 2012 #35

I'm sorry Morganfleeman Dec 2012 #37

Your education hasn't helped you much cthulu2016 Dec 2012 #39

What? I can deal with low interest rates because I know where to plethoro Dec 2012 #13

Old People Can't Take on the Additional Risks That You Can n/t Yavin4 Dec 2012 #18

And so?....... This unusual answer doesn't exactly encourage the switch to a chained CPI.....nft plethoro Dec 2012 #22

+1 Thank you Harmony Blue Dec 2012 #19

Your welcome. I would say, Don't Worry, but that plethoro Dec 2012 #25

That 0% rate is great if seniors were banks borrowing money from other banks Kelvin Mace Dec 2012 #14

The OP has the right idea. banned from Kos Dec 2012 #17

No one claimed it is ideal Harmony Blue Dec 2012 #20

Because of a concerted effort to screw the 99%, not *just* because of our current depression MannyGoldstein Dec 2012 #30

It's the same reason the Fed bails out banks with billions and not a penny more goes to poor people. leveymg Dec 2012 #29

Chained CPI hurts recipients across the board Zero interest rates.... JVS Dec 2012 #33

The President's Proposal Protects The Most Needy Seniors Yavin4 Dec 2012 #38

"the most needy seniors" brentspeak Dec 2012 #40

Corporations over 65 years old? JVS Dec 2012 #42

How? JVS Dec 2012 #41

You made a list of the DUers who welcomed the drop in interest rates 4 years ago? muriel_volestrangler Dec 2012 #44

I would advocate a special US savings bond for seniors only Nye Bevan Dec 2012 #45