More ZIRP protest chatter from savers becoming manifest this time from rocker Suzi Quatro, story at the Telegraph here.
Fame and Fortune: Suzi Quatro may have sold 55 million records in a 50-year career but she feels the pain of low interest rates like any other saver.Interesting interview with Quatro at the jump where she provides some personal views on savings and thrift which is perhaps in contrast to typical rockers who seem to be generally profligate.
6 comments:
We're back to the conundrum of four questions:
1) what kind of misinformed people try to save fiat? or liquidity?
2) given the need for both static AND dynamic assets, how many of which to keep on hand - for both growth & liquidity - depends on what demands on your financial agility may occur
3) Overall, it's FAR better to address these through an artful combination of GROUP INITIATIVE POLICY as well as some PERSONAL INITIATIVE POLICY
4) If 2 & 3 can't be kept in balance ... we may as well revert back to family entities at war with all other families? Good luck with that.
I wonder if these people own homes, have credit cards, autos, student loans or other sorts of credit.
Yes, low rates stink for savers, but for ever saver there is a debtor. It's a wash.
If these folks are really so pissed about not being able to save, why don't they lobby for policies that increase incomes? Like higher minimum wage, more gov't spending on social safety nets, education, infrastructure, R&D, cops and firemen, health care,etc. You get the picture.
Roger,
What is the biological equivalent of a 'static' asset? is there some substance (carbhydrate?) related to physiology that is equivalent?
Same for 'dynamic asset' is there something in biology?
She seems to be saving for retirement as she doesnt have a pension... and is saving mostly state currency vice real assets...
We have to come up with a transition plan for these savers perhaps govt can start to offer guaranteed annuities with rights of survivorship to citizens subject to reasonable limitations ....
That would placate the monetarist morons as the reserves would get drained and would provide income support for seniors and interest rate support too...
Permanent ZIRP is hurting people who have much less balances of USDs than Suzi here probably....
rsp,
In general, a static asset is anything formed into some structure with a half-life. It has a utility as-is.
Dynamic asset is always organization. The ability to transform, compound and/or otherwise re-configure any and all static assets.
My gut feeling is always to describe a snails shell as a static asset ... which low intellect agents are content to hoard.
Army ants, on the other hand, invest in dynamic assets.
Army ants eat snails. It's very rare that a snail eats a colony of army ants.
Capiche?
Perhaps...
I was thinking about this dichotomy in "money" where you have these people who want to use mass measures of metals which perhaps can be thought of as a 'static assset'...
And then the people (I assume like us) who want to use state currency which perhaps can be thought of as a 'dynamic asset'...
If so, then as Suzi here seems to prefer to save in state currency, she is in effect saving dynamic assets... which might be really smart.
(not to go all Larry Summers here but I often think our females are naturally smarter wrt certain issues....)
rsp,
Last i buy one her singles...erm may need a time machine.
Post a Comment