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Also the majority of hard savers who amass a pension pot are surely not the types to squander it.
At the moment about half of Japan's long-term government debt is held by its own citizens, habitually hard savers.
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That was probably the hardest saver he's had, and it's crisply dispatched into the cup, right to left, down the green!
That makes calculating interest rates hard, since savers could pay starship captains to carry them forward in time, to reap the benefits of centuries of accumulated interest.
For Japan's hard-pressed savers and its underfunded pension schemes, that is a woefully inadequate return.
That storyline of the script for this year should at least remain intact.Our Buttonwood columnists muses on the figures - and the impact on hard-pressed savers - here.
But hard-pressed savers have already had to grapple with record low interest rates of 0.5 per cent, a level that has been in place for four years as of next week.
The plight of hard-working savers earning as little as 0.1% interest on money in banks and building societies was dragged centre-stage on Monday as the Conservative party unveiled proposals to abandon tax on savings for lower earners and raise allowances for pensioners.
In true Yes Minister style, vague allusions to legal advice have been used to justify inaction and shield vested interests – and at the expense of the hard-pressed saver".
It now deliberately targets less rate-sensitive customers.The second question is how much money banks can make if they are having to compete so hard to entice savers.
It will, however, take more to impress the IMF, let alone hard-bitten Russian savers who continue, sensibly, to stash their nest-eggs totalling some $40 billionest-eggs totallingsomefely but unproductively under their mattresses.
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