kitco commentary by Keith Weiner
comment:
A couple things here to contemplate
First, there has been a long-term trend downward in interest rates. While this was welcome when rates were relatively high, this is now becoming a problem as it tends towards zero.
Secondly, the low interest rate punishes savers and the economy as a whole. The article explains how. He explains that investment is no longer for growth, it becomes a churning phenomenon and thus becomes zero sum. Now, I've read books about success and something I remember that stood out: those who cannot save do not have within themselves the seed of success. The Fed is literally punishing success.
The Federal Reserve is the problem. We are trending towards and economy that punishes the thrifty and productive element. The Fed is a large part of that problem.
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