Call me nostalgic, but I miss the days when a person could depend upon a consistent and safe 3-5 percent return on money in a passbook savings account. We haven't seen those times since the later 1960s when price inflation began to grip the economy. Savers began to look to other venues where they might be able to stay even with, or get ahead of, inflation.

Today, it's nearly impossible to save without falling behind. More often than not, savers feel compelled to become investors, something for which they have neither the temperament nor the time. Consequently, a large number of them have experienced significant losses. The alternative is to return to passbook savings earning interest of less than 1 percent.

What will it take to create an economy where an average person can earn a simple, dependable and safe return on savings that will enable him or her to stay above water?

Steven Yorgason