by Brian Maher, Daily Reckoning:
“At no point in the history of the world has the interest on money been so low as it is now.”
Here the good Sen. Henry M. Teller of Colorado hits it square.
For 10 years plus, the Federal Reserve has waged a nearly ceaseless warfare upon interest rates.
Savers have staggered under the onslaughts. But the timeless laws of economics will not be forever put to rout.
We suspect they will one day prevail, and mightily. Interest rates will then revert to historical averages.