More Lies & Deceit from Bankers & Economists

Economists, analysts, policy makers and of course central bankers are always paying attention to the household savings rate data for a variety of reasons. Regardless of the reason for their interest, the end result is the same. Bankers want to do all they can to discourage savings so that consumers will load up on credit, thereby holding them hostage to interest payments.

As you can imagine, bankers are able to get laws passed that punish those who save and reward those who spend and borrow money. At the end of the day, only the banks win.

To convince Washington that this scheme is beneficial to the economy, bankers insist that an economy that is leveraged will experience more growth, which will lead to more jobs and better living standards.  Again this is a myth. Only the banks and corporations benefit from this scheme.