Re:Google Cuts Jobs in Engineering and Other Divisions
by ptero on Thursday January 11, 2024 @07:14AM
(#38951211)
This is a phenomenon of the last two decades. Before the fed started cutting rates after 9/11 (to support the country, the financial markets, the housing markets, etc.) both money market and savings accounts (you had to choose a good bank) usually gave positive inflation adjusted return.
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Re:Google Cuts Jobs in Engineering and Other Divisions
by nly on Thursday January 11, 2024 @10:43AM
(#38953730)
Barely.
In real terms US bills have returned 0.4%/yr over the last 120+ years
Re:Google Cuts Jobs in Engineering and Other Divisions
by md_ on Thursday January 11, 2024 @12:34PM
(#38955557)
Seems to me Treasury bills meaningfully outpace inflation, on average: https://www.bauer.uh.edu/rsusmel/other/lrret1.htm. But I was talking about cash accounts, which typically pay lower interest rates than T-bills or CDs (as noted on the above link).
Re:Google Cuts Jobs in Engineering and Other Divisions
by ptero on Thursday January 11, 2024 @05:40PM
(#38960459)
In the late 1990s my savings account at the EmigrantDirect was paying about 7% with inflation around 3%.
This was not a term deposit, but a regular account, either itself with check-writing privileges or linked to a checking account with 1-3 day transfers. I think MMFs with check-writing paid similar interest, although not 100% sure as I never put my money there. Those were cash accounts as I could withdraw any amount, up to 100% of the account any time without any penalties.