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JDPriestly

(57,936 posts)
3. Are we retirees to be the cast-away generation?
Thu Jul 25, 2013, 04:07 PM
Jul 2013

And Bank of America is now paying .015% (one and one-half hundredths of a cent on the dollar) to some savers that have been with them for years in interest on savings accounts. (On $100 in savings you get a penny).

Wall Street wants to push people into gambling on the stock market.

And we are told that, for aged over 18, many accounts under $50,000 will be charged from $5 to $12 per month for the service of keeping your money.

That's our understanding based on a phone conversation with someone from the bank.

https://www.bankofamerica.com/deposits/bank-account-interest-rates.go?js=y

So forget about saving for retirement at those rates.

They are trying to get people to gamble because they gamble against you and rig the game so that they win.

The country's economy has turned into one huge gaming table. The gambling mania is the sign of a country in decline.

Why? Because it is the sign of an upper class (that has the money and should be leading and giving back) that is aimless, lost, without direction, just floating and not functioning in a purposeful way.

Recommendations

0 members have recommended this reply (displayed in chronological order):

Can we apply this ruling to the US Congress? usaf-vet Jul 2013 #1
Take it to all levels of congress. penndragon69 Jul 2013 #2
+1 DonRedwood Jul 2013 #6
Are we retirees to be the cast-away generation? JDPriestly Jul 2013 #3
Credit unions are worth considering Cassidy Jul 2013 #8
Agree with the Savings Bonds - if you can, go I Bonds vs. EE Bonds - the rate is higher Hestia Jul 2013 #10
I expect a deal in the morning... BlueToTheBone Jul 2013 #4
Super ditto. SoapBox Jul 2013 #7
I bet this won't stand SCantiGOP Jul 2013 #5
It's not a pay cut Fortinbras Armstrong Jul 2013 #9
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