When interest rates are pushed artificially low in the midst of constantly-increasing costs of living, the avenues by which average Americans save and grow their wealth are limited. Frugality—demonstrated by spending less than you earn and socking away a portion of your income in bank CDs—becomes an exercise in frustration as widespread price inflation eats away any nominal increase in wealth.
In the ensuing search for higher yield, average Americans are pushed to take more risk in order to earn returns that have a chance of outpacing relentless price inflation.
A few years ago, this dynamic was exemplified by the collapse in commercial real…
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