Don't let low interest rates make you stupid
Posted June 11, 2009 - 06:39 by Philip Brewer
When I went off to college in 1977, inflation was high and rising, but the maximum interest rate you could earn on a savings account was capped by the government at a fraction over 5%. The conventional wisdom was "It's dumb to hold cash when inflation is over the rate you can earn." I absorbed that conventional wisdom, and it led me to make some dumb decisions.
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