DISCONNECTION: the Stock Market and the reality of day to day American Life
WHY?
Pink slips being printed as Congress vacations, defense industry likely to cut thousands of jobs
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Fears at Fed of rate payouts to banks
2 Comments:
Have you ever wondered why:
Your credit card interest is 24%
Your mortgage is 5%
Your consumer loan is 6-9%
and
your savings account pays you 1/2%
It keeps the banks happy and willing to buy all the low-yield government bonds the government wants to sell.
That is also the reason the stock market is where it is. It keeps business happy. Who on earth would invest a penny in a dubious company that might pay four or five percent dividends if you can get the same from your bank - guaranteed - as you could do 20 or 30 years ago.
They aren't American businesses. They are Businesses of the World. The United States of America is just a Demographic.
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