The Phaserl


Yellen says US families need to boost savings

“So when we have to do the bail-ins, we know where to find the cash!” This lady is truly out of touch with what is going on out here in the real world! ~Michael Rivero

from Washington Post:

The Great Recession showed that a large number of American families are “extraordinarily vulnerable” to financial setbacks because they have few assets to fall back on, Federal Reserve Chair Janet Yellen said Thursday

Yellen said a Fed survey found that an unexpected expense of just $400 would force the majority of American families to borrow money, sell something or simply not pay.

“The financial crisis and the Great Recession demonstrated, in a dramatic and unmistakable manner, how extraordinarily vulnerable are the large share of American families with few assets to fall back on,” Yellen said in a Washington speech.

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4 comments to Yellen says US families need to boost savings

  • JD Williams

    Simply don’t pay.

  • NIX


  • Rob

    Banks pay .01% on savings and can take your money whenever they want.
    Bail ins are legal to steal your money for the bank.
    Banks have been ripping off people for centuries.

    Yes… I am going to keep my savings in the bank!

    Only Fools,sheep, idiots and drug cartels keep their money in the bank.At least any more than operational money.
    Nice try though planet yellen.

  • Scott

    I’m confused. Isn’t the gubment in charge of public schools… and has been for decades. And they are just now saying they need to teach people how to build assets!! It’s so frustrating for those of us that take responsibility for ourselves and do whatever it takes to learn and educate ourselves (like spend countless hours in libraries reading financial books) on how to build assets and avoid debt. Sadly, the morons that don’t have $400 for an emergency have IPhones, wide screen TV’s, jet ski’s, trailers, boats, yada yada. Their glued to their televisions manipulated into buying the latest gadgets and trinkets. In the richest nation in history, not to have $400 is appalling. Note: I’m not talking about young people just starting out….I know how tough it is for many of them just getting started, but if your over 30 and don’t have $400 that’s a different story.

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