Ben Bernanke, in his latest public appearance, says it’s OK that grandma and grandpa are not earning any interest on their savings account.
For years, non-risk takers were able to support pensions and Social Security with interest earned on savings. Right now, of course, that’s no longer possible.
In essence, Ben said “What’s the big deal, most folks are actually better off.”
I reread Bernanke’s Indiana economic speech in order to try and understand his convoluted Keynesian logic.
I then reread it...