saving money is not the smartest thing to do.
not only is the dollar losing Value but you will be taxed on the interest the bank pays you as additional income.
make you money work for you, don't just let it sit around like your out of work brother in law.
Quoting: Vincent Vegas 417227You are correct.
THIS ECONOMY PUNISHES SAVERS!
The Dollar has lost 16 Percent of it's purchasing power over the past couple of years, and it's going to get worse.
If you're in the median tax bracket and pay taxes on your savings, you've lost even more than that.
Bernanke and company are trying to hyperinflate their way out of this Depression. Of course it won't work but they think they can do the impossible. Meanwhile, as they are hyperinflating, your Dollars purchasing power, in essence, is being destroyed in proportion to the Federal Reserves effort to inflate.
In my opinion, pay off your debt. If you're not in debt, then I would suggest making repairs to your home, automobiles, etc.
The Federal Reserve utilizes 3 methods to steal from us.
1 Inflation
2 Taxation
3 Deflation
Another thing, your employer is not your friend.
Has your employer been giving you regular raises to keep up with inflation?
Do they pay 100 percent of your group health premium?
Are they forcing you to do more work for the same pay?
If you are a salaried employee, do they force you to work mandatory overtime without any kind of compensation for it?
Do what you want, you will do so anyway.
Creedence Clearwater Revival-Born On The Bayou
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And So It Begins....
