46 of 65
BACKNEXT
Joe Ross: 'Fools' for saving
Joe Ross: 'Fools' for saving
Joe with his wife, Celeste
Consultant, 59, Eugene, Ore.

My wife and I have been saving our money for many years in hopes of buying a retirement home and living off our investments. No matter how much we saved, it seemed that housing prices continued to escalate beyond any reasonable bounds. We feel like fools for saving our money, which only gets eaten by inflation.

We are absolutely disgusted by government fiscal policy which provides cheap money to investment banks. The loose fiscal policy essentially robs savers and rewards people who borrow and speculate. Anyone with a pulse knows that the current housing fiasco is the result of loose fiscal policy and a complete failure to regulate fraudulent behavior of everyone in the real estate business, including the investment banks, realtors, appraisers and buyers.

Loose fiscal policy is a primary cause of inflation, and inflation is simply a silent tax, as it lowers the purchasing power of money that we have saved as surely as if the government had simply confiscated the money via taxation.

NEXT: Ron MacQuarrie: $35,000 in debt
Last updated November 15 2009: 6:21 AM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
More Galleries
Graffiti about Greek crisis fills Athens' streets Artists are taking to the streets to express their views on the Greek crisis. More
My whirlwind 24 hours in Taiwan as a bridal supermodel Unlike the West, Taiwanese brides-to-be sit for hun sha ?? photo sessions before their actual wedding day. The photos are seen as a status symbol as well as a way to capture the brides' youth and glamor. More
8 startups that'll make your travel experience so much better Here are the new travel apps and services that will make trips easier, less time-consuming, and more fun for the every day business traveler. More

Special Offer