Friday, July 31, 2015

Oh the poor grannies!

Aw! Someone's crying about a dying old canard again!:

this just in, 30% of Grandmas have passed away during ZIRP’s post-2008 run, with their savings passbooks never having received so much as a .25% bump while the pigs get richer and fatter with every non-action

My advice:

(1) Read up on the market for loanable funds.

(2) Okay, that requires reading. Forget it, I ask too much. Here's a video instead, now you have utterly no excuse:

(3) Understand that grannies have only been receiving a low interest rate because of nearly nonexistent demand for loanable funds compared with high supply. This btw is a worldwide phenomenon, and not just an "artificial" "suppression" by the evil Fed.

(4) I won't bother giving you links for the explanations as to why supply and demand is this way right now, because that will require you reading actual living economists like Krugman and Summers (or even the Republican buttboy Greg Mankiw FFS) instead of dead lunatic hatemonger clowns like Ludwig von Mises.

Please ignore the above advice and educational materials if your blog is supposed to be nothing but a part of the ignorant populist right-wing neocon echo chamber, in which case carry on you're doing great!

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