When any one of the plethora of bubbles burst – pick your poison – and the next financial crisis impacts Wall Street and Main Street, how will the central banks and federal governments react? They have fired all their unconventional rounds of bullets, from subzero interest rates to vast money-printing. One other proposal could conceivably be giving your deposits a haircut, much like what occurred in Cyprus following the recession. This dyspeptic vision is not hyperbole nor is it paranoia – the tariffs have raised the price of tinfoil! It is unfolding right now as our globalist overlords are executing, or at least entertaining, fiscal and monetary measures to confiscate your wealth – directly or indirectly.
PLUGGING HOLES IN SWISS CHEESE
Switzerland is one of the few European nations to record a federal budget surplus. The budget for the fiscal year 2020 will record a $615 million surplus, despite imposing pension and tax reforms that slashed revenues and raised spending. The Swiss government is handcuffed by a so-called debt brake, a balanced-budget amendment that mandates the budget to be in balance throughout the business cycle. This policy has decreased the debt-to-gross domestic product ratio to nearly 25%.
Although national debt levels are still at multi-decade highs, the fact that the government is taking red ink seriously should be music to the ears of fiscal conservatives. But to others, it is headache-inducing.
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3 comments:
Seems to me that the savings accounts are effected by the interest rates.
The interest rates keep getting lower. Trump keeps banging on the Fed to lower more . This directly positively impacts Trumps loans which are a floating rate and negatively impacts the typical saver ( Trumps base).
Who benefits , you bet'cha , Trump
We all benefit from it by having lower interest rates on anything you buy with credit. I know my house is at 3%. I have over 30k sitting is savings. I don’t have it there to make money, It’s for emergencies. I would rather have low interest rates anyway.
Low interest rates help the poor and middle class much more than it hurts the rich and upper class that obviously doesn't need financial help
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