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For every saver, there has to be a borrower. But with Governments and private citizens in peripheral countries already under water with debt, where are the additional borrowers to come from to provide an income for additional savings?
You can't at the same time flay the Greeks for borrowing both too much and too little. And if their economy crashes, you may lose not only your interest income but your savings as well.
Deutsche Bank is more or less bust, thanks to it's ill advised speculation on derivatives, trying to achieve a return on savings that was simply not sustainable.
There will be no return to high interest rates soon, and anyone who tries to tell you different is lying. In fact you could be lucky not to lose some of your savings as well, without a cast iron European wide savings insurance scheme.
And who will fund that? Index of Frank's Diaries
You can't at the same time flay the Greeks for borrowing both too much and too little.
I am not so sure of that. We are longing for the good old times when we could invest in Bundesschatzbriefe and they carried good interest while lauding the debt brake and the black zero, too. We are beyond logic, I think. If we weren't, it would necessarily be time for something drastic, and we are not prepared for that.
That no such people do actually exist is of no importance for politicians. Deutsche Bank, on the other hand, has to deal with that reality. The hard way.
Why is it that public benefits like housing or old age pensions which could be afforded in much less prosperous times are suddenly becoming unaffordable now?
How else is the Ueberklass supposed to get the more it so richly deserves without taking it from the rest of us?
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