Savers aren't entitled to a return. No one is entitled to fiat holding or increasing in value. The utility value of capital is declining, plain and simply.

https://www.visualcapitalist.com/700-year-decline-of-interes...

https://www.ecb.europa.eu/stats/policy_and_exchange_rates/ke...

https://fred.stlouisfed.org/series/INTDSRJPM193N

http://www.nationalbanken.dk/en/marketinfo/official_interest...

https://www.riksbank.se/en-gb/statistics/search-interest--ex...

It almost seems like the best use of cash is to use it as a down payment for a loan on an appreciating asset (like a house)

What happens if the house no longer appreciates?

Yeah, they’re entitled to a loss through inflation-based monetary policy and debasement.

The central bank exists to ensure that your fears here are misplaced.

Central banks exist to ensure debasement. By its very nature, fractional reserve banks cannot honor their contracts. The purpose of a central bank is to print money to ensure the solvency of the fractional “reserve” bank cartel.

And predictably, we’re here at zero percent interest rates, large levels of private and public debt, and the public starting to realize that they can use the printing press too and demand to be given free money (UBI).