Most people nowadays are being ripped off of their financial well beings. Just a recent report in Commerce Department stated that the savings rate for all 2006 was a negative 1%, meaning not only did people spend all their money they earned, they also dipped into savings or borrowing to finance purchases. This is the lowest level in 74 years!

Will the government help?

One of the contributing factors people can’t save money today is because the difficulty to keep up with today’s living standards. Everything is costly and the future also looks gloomy. Our country for the past 30 years has been built on borrowed debt. Today, most foreign central banks hold US Treasury bonds or similar US government assets as their "currency reserves." They in fact hold an estimated $1 trillion to $1.5 trillion of US Government debt. As a result, the total US debt—public and private—has more than doubled since 1995. It is now officially at over $38 trillion. It is very possible the government can’t even fund Baby Boomers to retire and you can certainly forget about getting anything out of Uncle Sam for retirement in 30 years.

Will the bank help?

Banks and institutions are good at profiting for themselves but not for retail investors. They pay account holders 1-2% per year, turn around and make millions in the markets.

• In 2002, Bank of America alone make a $530 Million profit in Forex trading on their “ Global Investment Income”
• In 2003, half of Daimler Chryslers 2Q operating profit was from currency trading, they made more money in currency trading than selling cars.

What about stocks?

Since 2000, most people have not recovered from their losses. Have you checked the return of your equity accounts?