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Originally Posted by KinAlberta
Can’t? Won’t is more like it. Even when bailed out over and over by central banks. They live a high life and don’t save a penny.
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When your getting .5% interest in your savings account your losing money every year it sits there with 2% inflation(really its higher). If you compare that to the 80's and 90's with interest rates between 5-20% thats a major difference. With low interest rates housing is inflated so now young families are paying more for homes, and they're encouraged to take on debt as the money in the future is worth less, then the money today. Sad cycle but its where were at. To really get ahead people need to be able to accumulate capital, and stay out of debt. With increasing taxes, inflation, and consistent money printing the government has made it damn near impossible for the average joe without a financial education to get ahead.
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“If all mankind minus one, were of one opinion, and only one person were of the contrary opinion, mankind would be no more justified in silencing that one person, than he, if he had the power, would be justified in silencing mankind.” John Stuart Mill
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