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Comment by karamanolev | Hacker News Reader

> stock with no dividend and with only a speculative future value are always a trap

The market in the last, what, 20 years, begs to disagree very hard.

The market over the last 15 years has been artificially propped up by trillions of dollars worth of quantitative easing.

A huge part of the "increases" in real estate and stock market values is backed by nothing more than fever dreams.

And it created new inflated reality. That's what current baseline is and nobody ain't going back, money are simply worth less... I do expect this trend to continue on medium to large time scale

No, the inflation is definitely caused by worker wages.

Absolutely it's worker wages.

Not helicopter QE.

Uh uh. That's just not how it works.

Capisce?

>Absolutely it's worker wages. Not helicopter QE.

From a practical standpoint, there's little difference between these things. It's all more money in the pool. It's not like wages are tied to productivity.

Unfortunately it's a fever dream that, as an individual, you have no choice but to buy into. In a world with 7% annual inflation, putting your money in a traditional savings account is tantamount to hiding it under your mattress.

>In a world with 7% annual inflation, putting your money in a traditional savings account is tantamount to hiding it under your mattress.

My business savings account is paying 5.5%. That's a long way from 0% in your mattress.

Where can I get a personal savings account with that kind of interest?

5.5 is further than what you can get with Personal Savings, but ~5.0 is not difficult to find at all right now, have to be able compete with those raising interest rates: https://www.bankrate.com/banking/savings/best-high-yield-int...

A high yield savings with Discover has a 4.3% APY right now. That's higher than both the mortgage I took out in 2016 and the loan I took out a few years later for new windows on said house.

Not 7%, but also way better than cash.

Don't discount credit unions. If you or a family member is or was in the military you can get into Navy Federal which even offers interest on their checking accounts (!!). And more importantly, a serious lack of fees and add-on charges.

Shop around. I have one at 4.5%. My credit union has one that goes up to 4.9% if your balance is high enough.

The problem is, eventually there will be a correction, there has to be, as every bubble will pop sooner or later. And then, a lot of people will be left holding really fucking large bags, like the Detroit housing market post-2008 where people were completely underwater with their mortgages, and communities/society at large would be left with the fallout of urban blight.

Meanwhile, those profiting from the bubble all the time have long since cashed out.

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