Our rulers know that if we don't save any money, we'll be more vulnerable and dependent ... plus, it's too hard to tax saved money, whereas it's trivial to tax money that's moving.
And if negative interest rates don't spur growth, it's because they weren't negative enough!
I think the real issue is the money multiplier effect. If I spend a dollar, it's spent and re-spent. This means that it gets to be taxed many times.
America produces more then it ever did, yet manufacturing is considered dead as a source of jobs.
The small number of well-paid engineering jobs AI and robots create is dwarfed by those losses.
That will depend on how effectively we can replace those systems with AI and robots. We're on our way there with the legal system.
Your god-given right to be a rude motherfucker to whomever you feel like, whenever you feel like, without being subjected to any social censure, must be defended. I just don't understand why we can't call a _______ a _______ in polite company anymore.
Socialism is "fascism with a human face", the “The Fascists of the future will be the anti-fascists.” - Winston Churchill.
"I hate Indians. They are a beastly people with a beastly religion."
"[Ghandi] ought to be lain bound hand and foot at the gates of Delhi, and then trampled on by an enormous elephant with the new Viceroy seated on its back."
"I do not admit for instance, that a great wrong has been done to the Red Indians of America or the black people of Australia. I do not admit that a wrong has been done to these people by the fact that a stronger race, a higher-grade race, a more worldly wise race to put it that way, has come in and taken their place."
If he wanted to find fascism, all he needed to do was look to his treatment of the imperial holdings - something that British socialists were quite eager to point out.
If you torture the definition of fascism so far as to include social democracy, then it will also encompass America since the arrival of settlers, centuries of monarchical and parliamentarian Europe...
But perhaps some context is in order.
At that time India was pretty terrible. E.g. burning at the stake of widows after their husbands died. Even Marx found that the British occupation was a civilizing force. It could be argued that the occupation in its totality and for all of it's faults was a net positive.
Obvious fascism is obvious. Which is why George Orwell's books are dedicated to the less obvious fascisms. And it's why I made the point on political correctness, because it's less obvious.
Besides which, the entire article is rendered moot by the fact that inflation exists precisely as a tax on savings.
>> inflation exists precisely as a tax on savings
I don't think the article is suggesting that a person who has a savings account at the bank is the problem. Although the title is misleading in that case....