Micro credit: not sexy, but it's got teeth
Part of the intention of writing this blog is to inspire people to take charge of their own financial future. Financial literacy is not rocket science and any one who makes you think it is, is probably trying to scam you or is indeed a financial wizard / geek. In either case I suggest not to get involved.
I strongly believe, and with me many others, but let's talk about me, that in current economic environment, ordinary hard working savers and retirees are the ultimate losers. I mean here in Europe bank savings are looking more and more "unsave" now savers at Cyprus banks have to take a 6 to 10% haircut on their supposedly secure savings to help bail out the banks and the Cyprus government. It makes you wonder what this means for savings in Greek, Italian and Spanish banks and ultimately any other bank in Europe. But this is not the biggest concern I have. The biggest concern I have, is that interest rates paid on savings are so low, that with inflation correction, savin…
I strongly believe, and with me many others, but let's talk about me, that in current economic environment, ordinary hard working savers and retirees are the ultimate losers. I mean here in Europe bank savings are looking more and more "unsave" now savers at Cyprus banks have to take a 6 to 10% haircut on their supposedly secure savings to help bail out the banks and the Cyprus government. It makes you wonder what this means for savings in Greek, Italian and Spanish banks and ultimately any other bank in Europe. But this is not the biggest concern I have. The biggest concern I have, is that interest rates paid on savings are so low, that with inflation correction, savin…
