Saving Is Dumb… Say the Central Bankers

by Tony Sagami
Mauldin Economics

Get a load of this headline from a German newspaper, which translates into “Extreme Low Interest: Who Saves Is the Fool.”

[…] The reason for that insulting headline is simple: central bankers have been waging a war against savers.

Example #1: Former President of the Federal Reserve Bank of Dallas, Richard Fisher, offered this sage (sarcasm alert) advice last week: “I would be prepared when they move—and I hope they move sometime in June—there’ll be a settling in of the market place. There will be a correction. Suck it up. Deal with it. That’s reality.”

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