Source: Cobden Centre
by Max Rangeley
“There is a particular kind of financial wisdom that used to be passed down at kitchen tables. A grandparent, someone who remembered harder times, would explain that the first obligation of a responsible person was to spend less than they earned, put something away, and let patience do its quiet work. The savings account was not a sophisticated instrument. It was a vessel for deferred consumption—a way of translating present discipline into future security. The interest it paid was modest, but it moved in the same direction over time. That world has not merely changed. It has been, in a precise and largely unacknowledged sense, inverted.” (06/04/26)
https://www.cobdencentre.org/2026/06/there-is-no-reprieve-in-the-feds-war-on-savings/