Leon Cooperman says the Fed made a mistake cutting rates: ‘You’re screwing the savers’

Timor Invest
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CNBC/Thomas Franck/9-19-2019

“‘Just think about it this way: You have a 35-40% marginal tax rate, you’re getting 2% on your cash if you’re lucky,’ he continued. ‘You keep 60% of the 2%, that’s 1.2%. The inflation rate is running 2%: You have a negative on savings.’”

USAGOLD note:  And, we are led to believe, rates are likely to go still lower. In this increasingly upside-down, mad-hatter financial environment, one Danish bank is offering to pay borrowers .5% a year to take out a mortgage. Jyske Bank, the Danish lender offering the loan, automatically reduces the size of your mortgage each month.

Source: USA gold