For everyone who is ga-ga about the chimeras rise (any one of them) on the backs of the taxpayers (Bens and Janets huge balance sheet, plus issues of near-zero being ignored), please consider this tale: Call it, slapping savers more than silly. Ben made $250K with about 40 minutes of work (well, there was travel - he didnt pay - and preparation - hes using his notes from the past decade). That is equivalent to what he caused TWO savers to lose (give or take) with his policy (lets say they have 500K, each, in their savings for retirement purposes) over the past five years (give or take). And, that is a $100K+ loss for each saver which can be (is, in this case) figured with a very conservative interest rate differential (make this delta a little more reasonable, and the losses are indeed tragic). ... Not get the message? Lets save 20 savers with $50K each. ... The real tragedy? Ben has, as well, pushed US Savings Bonds (like you would expect the moms and pops to buy -- or, a patriot, got it?) returns down to minuscule amounts that are an insult in many senses and laughable in others. Thanks, big guy. You did the savers a lot of favors. ... More of this type of analysis will follow (we can all hope that Janet comes to her senses).
Posted on: Thu, 06 Mar 2014 14:50:30 +0000
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