Skimpflation: A reason inflation is worse than the government says it is

Re:Skimpflation: A reason inflation is worse than the govern... by mikewarot on Monday November 01, 2021 @03:59AM (#29064070)

Savings accounts used to pay anywhere from 5 to 8 percent back when inflation was 1 to 2 percent. You didn't expect to live off the interest, but you did expect the drain rate to be far less than with effectively zero interest.

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Re:Skimpflation: A reason inflation is worse than the govern... by gruez on Monday November 01, 2021 @09:36AM (#29066475)

>Savings accounts used to pay anywhere from 5 to 8 percent back when inflation was 1 to 2 percent.

source? using the data from FRED https://i.imgur.com/O6EdHco.png, the periods where that was true (ie. interest rates being 4-6 percentage points above inflation is few and far between.

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Re:Skimpflation: A reason inflation is worse than the govern... by kamaal on Monday November 01, 2021 @05:43AM (#29064641)

In India it used to be common for elderly to live of interests from fixed deposits, or other instruments of this kind.

From a few years Mutual funds have been quite famous, but inflation is so high, nothing really works.

Here in India only safe source of income is rent income.

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Re:Skimpflation: A reason inflation is worse than the govern... by bart_spoon on Monday November 01, 2021 @08:34AM (#29065902)

They haven’t paid that much for well over a decade. If you’ve failed to take a hint by now and are still keeping all your savings in a bank account, you have no one to blame but yourself.

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