Monday, July 19, 2010

savers propping up the banks

Scott Burns wrote an interesting article, "Solvent seniors and the matrix of misery". He points out that the federal reserve's interest rate policy results in people with savings being used to prop up banks. Low interest rates cost retirees who live on savings thousands of dollars per year in lost interest, while increasing profits for banks.

So retirees living on savings account or bond interest are essentially paying for Citigroup's return to solvency, and the executive's bonuses. It seems to be an especially unfair transfer of wealth, that has not gotten much attention in the mainstream media.
Link to Scott Burns article

more bike time trials, and one triathlon

I did a few more of the Tuesday night bike time trials. Getting a bit better!

July 13, 2010. 17:30 (average speed 27.4 mph)
June 10, 2010. 17:51 (average speed 26.9 mph)
May 24, 2010. 17:44 (average speed 27.1 mph)

Also, I did the Jack & Adam's "couples triathlon" at Decker Lake on July 11. It was an 800 meter swim, 11.8 mile bike, 5K run. I was 28th of 900, and the first finisher over 50 years old. Had a good swim, very good bike ride, and did OK on the run.

I definitely do better at sports when I'm not sleep-deprived, like I was during the spring!