How I feel about the Fed? Once upon a time in America I could deposit my money in a bank and earn this thing called interest. The bank paid me money for allowing them to use my money. I got a solid slice of the pie, not great but 5-7% per year guaranteed. The stock market was for investments and companies had to pay me this thing called a dividend. The companies had to offer a dividend that had a greater rate of return than the banks because there were greater risks, so dividends often paid 8-12% per year. I got a piece of the action from a good business. Now thanks to the federal reserve, I do not get any interest on my money in the bank. Very few businesses pay a decent dividend. And best of all, somehow I am on the hook for all the risks taken by the banks and Wall Street and I get no piece of the action. This is not "Once Upon a Time in America." Thank you very much Federal Reserve. How is that for an opinion.
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I remember that thing called interest. How did the Federal Reserve go about eliminating it and dividends. Could it be that there just are no safe investments anymore. It's a shame. And I remember thinking 5% was measly.