ZIRP & NIRP Kill Retirement Savings
Lot’s of retirees who thought they’d built up a comfortable nest egg are beginning to hurt as the effects of ZIRP and now NIRP bite into savings and eventually, pensions. It’s only going to get worse, as these policies are anything but accidental, rather part of the Federal Reserve’s policy to keep America’s growing interest payments on the National Debt affordable. It’s just tough luck if Boomer retirements and pensions get toasted in the process.
“The zero interest rate and now negative interest rate policies of our central banks are gumming up the global retirement machinery. The Federal Reserve and other central banks have spent so many years subsidizing debt and punishing savings that it is now extremely difficult to guarantee future income streams at a reasonable present cost. And future income streams are the very heart and soul of retirement. Without adequate future income streams, retirement as we know it today is off the table.” Read more…
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