Small savers and retirees have reason to be upset. It’s as if monetary policy has been personalized to punish one group that behaved well (savers) and reward another that over-borrowed and over-spent.

By Caroline Baum at Bloomberg.com

EXCERPTS:

A second audience will be listening to Bernanke — not as closely, perhaps, nor in real time, but with no less a stake in the outcome: retirees living on fixed incomes who have watched their returns dwindle to almost nothing.

Bernanke has already told this group to forget about earning a higher rate of interest anytime soon.

Small savers and retirees have reason to be upset. It’s as if monetary policy has been personalized to punish one group that behaved well (savers) and reward another that over-borrowed and over-spent.

As for Gram and Gramps, who won’t be attending this or any Fed symposium, Bernanke will have nothing to offer. At minimum he could acknowledge their predicament and stop encouraging them to buy junk bonds.

FULL ARTICLE:

Help Make A Difference By Sharing These Articles On Facebook, Twitter And Elsewhere:

• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
•