Originally Posted by
tony de wonderful
That makes good economic sense; punish the prudent and reward the reckless?
Have you heard of moral hazard?
Why should prudent savers be punished to bail-out those who made bad economic decisions and took on too much debt?
because you can't build a dynamic growing economy when everyone saves -- look at Japan, where the economy has stagnated for the last 20 years
The Japanese have seriously proposed (alongside removing paper currency) negative interest rates - i.e. if you left 100K in the bank for a year, by the end it would be 99k, hence the need to spend
lets face it if you are not careful you become economic cannon fodder