There is not 20% inflation. No one alive in the first world has ever seen 20% inflation.
How broke people on reddit feel about the economy is not a good indication of anything.
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Apple Savings Account Interest Rate Increases to 4.50% APY
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There is not 20% inflation. No one alive in the first world has ever seen 20% inflation.
How broke people on reddit feel about the economy is not a good indication of anything.
This is reason. The more money that leaves the less attractive the business to an acquirer.
Conversely the higher the rate the less attractive the business.
They are walking a knife edge to prevent capital flight without destroying margins.
As long as there are banks offering 0.5 to 1% more flight will continue.
I don’t know where you live, but in the US the inflation rate it 3.4% as of December https://www.usinflationcalculator.com/inflation/current-inflation-rates/
Does anyone know how Apple does this? When a bank gives you interest, it's because they are investing your money in a way that makes more interest than what they give you. But the only loans Apple gives out are interest free. Sure, Apple gets some percentage as a credit card fee from the merchant, but I doubt it's that high.
And if Apple were just paying this money out as a loss to encourage use of Apple Pay, what's in it for Apple? Just marketing?
And if Apple were just paying this money out as a loss to encourage use of Apple Pay, what's in it for Apple? Just marketing?
Apple is not a bank. Goldman Sachs is operating both the savings account and Apple Card. These products are a strategy to get more iPhone users and keep them in the Apple ecosystem. Something that Samsung doesn’t offer and it would be a PITA to switch and lose these offerings.
I don’t think that it’s about that. It’s likely about keeping you in the ecosystem. Switching to Android becomes even more of a pain if your Apple ID is tied to your bank account.
These are delusional numbers. Are you suggesting inflation under Trump was higher than under Biden??
Inflation rate YOY (https://www.investopedia.com/inflation-rate-by-year-7253832)
2017: 2.10%
2018: 1.90%
2019: 2.30%
2020: 1.40%
2021: 7.00%
2022: 6.50%
2023: 3.40%
Narrative?
Argentina's annual inflation soars to 211.4%: https://apnews.com/article/argentin...mic-measures-68f27bf0473590fabb5b6c1aff80579f.
And Argentina is a first world country: https://worldpopulationreview.com/country-rankings/first-world-countries.
You can pay your Apple Card statement directly from savings. I did it once but don’t recall how.
Assuming the inflation rates tied are correct, how are low rates such as 1.4%, 2.1%, and 2.3% evidence of corporate gouging?
Look, a large part of inflation in recent years has been due to supply chain issues, market power and concentration, and yes, collusion, greed, and overcharging. Some economic analyses have suggested up to half of the inflation in the past several years was due to corporate pricing practices and greed!
But labeling all inflation over the last years as “corporate gouging” simply isn't supported by the figures cited or the evidence.
Look, a large part of inflation in recent years has been due to supply chain issues, market power and concentration, and yes, collusion, greed, and overcharging. Some economic analyses have suggested up to half of the inflation in the past several years was due to corporate pricing practices and greed!
But labeling all inflation over the last years as “corporate gouging” simply isn't supported by the figures cited or the evidence.
Where can I get 4.5% yield for savings in EU? The best I’ve seen is 1.5% and even then it’s strings attached.
I'm in Germany. We have "Tagesgeld" (daily Availability) accounts that offer up to 3.5%. If you are a first-time customer you can get up to 4% for the first few months.
Sorry, my bad. The inflation rate under tr*mp did not peak at 14.8%. The was the unemployment rate, which is now only 3.4%. Hard, verified, official, empirical statistics and facts from legitimate sources show this. Super high unemployment AND a super sharp recession. My retirement account still has the scars from early 2020.
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Sorry, my bad. The inflation rate under tr*mp did not peak at 14.8%. The was the unemployment rate, which is now only 3.4%.
Excepting the spike in 2020, the unemployment rate was never really a problem during the Trump administration. Actually, the rate dropped throughout his term to a low of 3.5% in February of 2020. The rate spiked because people other than Trump decided to shut down the economy.
If your retirement account still has scars from early 2020, then it is because you mismanaged your money: the Stock Market quickly recovered its losses and has since risen significantly.
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If you’re having difficulties taking money out, you’re probably triggering AML rules. Stop doing shady stuff.
You're both right. At the end of the day, while the "rate of inflation" has come back down to "closer to normal" levels (from a economics standpoint), the damage has been done so to speak. Prices are up meaningfully from a few years ago - the fact that those prices aren't growing as high as they used to, still hurts. And is different than if prices were to go back down, closer to what they were pre-COVID. (While for some items, eg. eggs, prices are down, in the aggregate, overall we're still up a bit / flat).
We are where we are.