Banks TRULY SUCK Even Worse Than I Thought…

Went to bank to see about putting half my checking account in a savings account.Turns out that NOW savings accounts commonly only offer LESS THAN ONE PER CENT (significantly less!) in returns. Money markets, not much better. One percent, often. Two if you’re lucky. The young banker told me it really started with the housing / banking crash ten years ago. Used to be 5 to 7 per cent, and I don’t mean a generation ago.

NOW…check this out (so to speak)…the nation has a crisis of people in debt. Not enough people are saving money. They get into debt and save nothing. Screws them up, bad for consumers all round. So the banks are being really irresponsible not offering an incentive to save money. So that means people are going to get deeper in debt…to whom? Usually, to banks. . . What, the banks don’t care about consumers, not really? You say that’s no revelation? Right. I just didn’t know it was that bad. Banks SUCK even worse than I thought and that’s something.

Tags: , , ,

Comments are closed.