chagrinned1

Import Prices and Retail Sales: Two More Clues About the Future

Unfortunately the characters involved in the sub-prime fiasco are not the ones to be hurt by the medicine provided. Most of the banks and mtge brokers will be bailed out with easy money.
The ones most hurt are the retirees or near-retirees who will see lower CD/money market interest and reductions in their 401Ks and IRAs as well as their brokerage accounts. Is this not the case when the savings banks fouled up in the early 1990's? Retirees have higher inflation to contend with as well. Once over the hump Banks will mark up their loan portfolios and it will be business as usual. Is it any wonder Americans do not save more?? Rick