Not a day goes by without a news reference to the Federal Reserve's low interest rate program that has gone on for years now. But there is a catch. For every action there is an equal reaction. A yin to the yang, an up and a down.
While everyone talks about easy credit and low interest rates, nothing is said about the thousands of retirees who while working throughout their careers, scrimped, saved and invested. These investments were usually interest bearing instruments.
These retirees had planned to live off of the interest from these investments. All of that, the collapse of senior income is the direct result of the manipulations of the Federal Reserve, who apparently do not consider retirement income terribly important.
This imbalance is forcing many into poverty. Into living on the principle instead of the earnings through interest. This is a disgrace.
Final 4: Gonzaga 83, Xavier 59
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