Plastics.
Banks must be the easiest thing to make money running - but they're all in financial dogshit from over leveraging and stupid risk taking
Plastics.
"Question the world man... I know the meaning of everything right now... it's like I can touch god." - bbobb the ggreatt
CDs aren't worth it but there are some CD "alternatives" that can yield 4-5% with no holding period and FDIC insured.
Buy diamonds.
"Question the world man... I know the meaning of everything right now... it's like I can touch god." - bbobb the ggreatt
Just don't fall in love.
boom ping pong
check out gooch being super wrong wrong
This. A year or so ago we had a 12 month promotional CD that gave 5% and .25% instant to grow on your investment, with only $500 needed down.
Now our year cd is getting 1% and going down tomorrow.
Base savings is earning .4, it used to earn 1%. I want the rates to go up just as much as the next person because it makes my job easier dealing with people who like to see larger returns. Every day I get to deal with the general public who has no idea that the economy drives the interest rates.
Edit: Late 2k8 = December. Prime has been 3.25 since 12/08.
Interest rates will probably stay low in this balance sheet recession but the caveat is the progression of the sovereign risk contagion. One distinguishing factor that contrasts our current balance sheet recession from the one Japan suffered from for 15 years (only recently managing to recover from, only to be met with this global balance sheet recession which has essentially bankrupted their global consumer base) is that the majority of their government debt buyers were domestic. Japan's debt expansion in order to replace the destroyed demand was replaced by government borrowing but that came internally (i.e. Postal Service). The U.S. debt is being funded by both domestic and international participants, so the likelihood of eventual (not near-term, especially with flight to quality flows and indications of less than expected supply regarding treasury issuance) rate increases does loom as a possiblity, though I would expect this to apply more towards government debt than corporate debt issuance.
Last edited by Gooch; 16 May 2010 at 08:11 PM.
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