Wednesday, March 2, 2011

Irony And Conspiracy

Instapundit » Blog Archive » HMM: Stop Saving So Much for Retirement. “You get the concept of living it up in your 60s. But how…: "The irony of current retirement planning is that everything coming out of Washington is geared toward punishing savers.

Bernanke drove short-term interest rates to zero by lowering the fed funds target, and then he cut longer-term interest rates by buying most of the treasury bonds issued over the last few months.

Obama tried to increase taxes on dividends and capital gains, and will presumably try again…making stock ownership problematic.

No need to review Washington’s policy blunders in the housing market, which accounted for an enormous chunk of many folks’ net worth.

A conspiracy minded person would marvel at all these things converging just as the baby boomers start to retire."