KentuckyWildcats · M
Penny · 46-50, F
i remember when regular savings accounts were like 6% if i rememeber correctly. (which i might not lol) now theyre miserable. why even bother you know.
@Penny Our banking laws have turned our banks into outlets for government debt at the expense of depositors and borrowers.
Dial in practically any banks balance sheets and see where our deposits are invested. They are mostly invested in US government obligations. Why? because equity requirements of the bank owners is lower for government obligations, meaning that the bank owners have to put up less of their own monies which in turn means a better return on investment for them. So, low interest rates on CDs and savings accounts are what becomes low interest rates that the US government has to pay for the $trillions of national debt. The bank role should be to serve the greater economy, but thanks to our huge national debt their role is to serve that debt.
Dial in practically any banks balance sheets and see where our deposits are invested. They are mostly invested in US government obligations. Why? because equity requirements of the bank owners is lower for government obligations, meaning that the bank owners have to put up less of their own monies which in turn means a better return on investment for them. So, low interest rates on CDs and savings accounts are what becomes low interest rates that the US government has to pay for the $trillions of national debt. The bank role should be to serve the greater economy, but thanks to our huge national debt their role is to serve that debt.
Softandsweet2 · 36-40, F
Musicman · 61-69, M
I thought they were around 1%.
BuzzedLightyear · 61-69, M