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June
16
2017

Good Question
James Quinn

It’s funny how facts are conveniently ignored by the mainstream media pundits, paid to mouth the narrative put forth by their corporate bosses. A critical thinking individual might look at the chart below and possibly question the validity of the economic growth mantra spewed by the politicians, central bankers and mass media. As anyone with two eyes can see, the central bankers of every developed country in the world have kept real short term interest rates negative for the last eight years and continue to do so.

The last time the U.S. Federal Funds rate was 1%, the 10 Year Treasury rate was 4%. In a normal free market system, real interest rates would be 2% to 3% above CPI. The fraud and dysfunction of the current global financial system is made unequivocally clear in the chart. There has been no economic recovery for the average person. This entire farce is solely for the benefit of the financial elite billionaire class, Wall Street banks, and corrupt politicians, orchestrated by spineless milquetoast central banker puppets.

Instead of getting 3% or 4% on money in a savings account, the average person is screwed getting .15% as their dollar depreciates by at least 2% per year. And the pundits pretend to be baffled by consumer spending collapsing, retail stores closing, restaurants desperate for business, and Americans in a perpetually pissed off mood.

 

James Quinn has held financial positions with a retailer, homebuilder and university in his 29 year career. Those positions included treasurer, controller, and head of strategic planning. He is married with three boys and is writing these articles because he cares about their future. He earned a BS in accounting from Drexel University and an MBA from Villanova University. He is a certified public accountant and a certified cash manager. These articles reflect the personal views of James Quinn. They do not necessarily represent the views of his employer, and are not sponsored or endorsed by his employer.

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