2. So how will this affect interest on savings and other bank accounts?
Edited on Sun Apr-11-10 01:57 PM by Dover
Sorry so slow to get the big picture. It seems that lots of people who might normally invest their savings are currently 'liquid' in their assets due to an unpredictable stock market and fear of spending, to name a couple of things. Of course being liquid has also been costly due the low rate of interest on those assets. The banks have essentially been using their customer's money for virtually nothing.
It used to be that one could get enough interest on their savings to live off of and/or build for retirement. Of course in the last decade or so the interest on those accounts has been hovering in the low digits around 1 - 4%.
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