Let’s get this straight, the Federal Reserve is about to raise the Fed funds rate by ¼ of a percent. The business television hosts are discoursing ad nausea on this. If they were to raise it 3% that might do something.
One quarter of one percent is almost too small to measure. The phrase “Canary fart” comes to mind." The Federal Reserve thinks that raising the interest rate a minuscule amount is going to change the celestial motion of the heavenly bodies?
The idea that this is discussed as a plausible item on the business shows, kind of tells you that many people have lost their true perspective of the markets. An increase of ¼ point from zero is a pittance and a joke.
As long as the Federal Reserve can dictate very low interest rates, there is no reason to save. Common sense suggests that cash stashed in your mattress is better than cash stashed in the bank. Where to from here?--- Buy Gold, Silver and Platinum, the price is right!