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Comment by bsksi | Hacker News Reader

This applies to regular people in Spain. Banks have started to pass these costs to the customer and practically all kinds of accounts that have traditionally been free now cost money to keep, even if you only make minimum wage. Needless to say, I'm not happy with the ways the EU screws over poor people.

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We see these low interest rates worldwide, twisting them into somehow the EU having them to screw poor people over is laughable.

Note that low interest rates affect those with money (i.e. not poor) much more than those without much money.

I didn't say they don't exist anywhere else, but they didn't exist here until recently.

I also didn't say the purpose is screwing poor people, but like many other things like car emissions caps, they introduce new regulations and laws and bullshit without thinking the poor are often disproportionately affected by them.

It's not a question of a tax on the rich vs. a tax on the poor, it's a tax on savers to benefit borrowers and spenders. You're forcing the responsible to subsidize the irresponsible. Donald Trump loves low interest rates for example, because he uses debt for everything. My grandmother by contrast, would always be sure to have a rainy day fund with plenty of cash. Having lived through the Great Depression, she knew it was prudent to always keep some cash on hand and not have everything tied up in illiquid assets.

Sadly the world no longer values savings and prudence. Might as well jump out on the risk curve and get rewarded with everyone else. Those with the worst loans in '08 were bailed out so there is little downside. I wish it were not this way but might as well take advantage

Very true - at the same time, when everyone start thinking like this, the bubble may pop

> Note that low interest rates affect those with money (i.e. not poor) much more than those without much money.

I disagree, wealthy people (even middle class) don't hold cash, they invest it

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