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Sean Ring: If you're a saver, you're a sucker
By Sean Ring
Daily Reckoning, Baltimore
Thursday, October 1, 2026
In the fall of 1923, a German housewife waited at the factory gate for her husband’s pay.
Back then, workers got paid at least once a day because prices rose by the hour. A wife needed to be ready the instant the cash hit her hand. Then, like a relay runner handed a baton, she sprinted to the shops. The bread she bought at noon would have cost more by dinner.
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By November 1923, 1 U.S. dollar fetched about 4,200,000,000,000 (yes, 4.2 trillion) Reichsmarks. In 1914, it was worth only about 4.
Most people hear "Weimar" and think "wheelbarrows of cash." But the real damage was done to the people holding the cash.
Every price tells you something, especially the price of money, which we call the interest rate. That rate teaches you the most important lesson of all: whether waiting pays.
Economists call it time preference, the question of sooner or later. A healthy interest rate tells you patience pays. A rate near zero tells you patience is for suckers. ...
... For the remainder of the commentary:
https://dailyreckoning.com/if-youre-a-saver-youre-a-sucker/
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