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thrown under the bus?

Discussion in 'Uncategorized Threads' started by comp 1, Sep 16, 2008.

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  1. comp 1

    comp 1 Well-Known Member

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    The talking heads on tv say the fed is going to cut interest rates today--I hope to Hell not.When the fed cuts rates it throws people like me under the bus by LOWERING any interest I can get on the money I SAVED by working hard all my life. I find it actually SOCIALISTIC when gov't cuts rates so people who spend like crazy on borrowed money to keep up with their extravagant lifestyle can afford to borrow even more and live even better than me. Pis# on all of you self-induced in debt bastar#s.
     
  2. Shooting Jack

    Shooting Jack Active Member

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    I totally agree with you. Glad to hear that they didn't lower the rate. I have a hard time even feeling sorry for the folks with foreclosures which we will pay for. I know they are trying to live the American dream but I had to earn everything that I have and don't see why it should cost me for someone else's stupidity.(sounds bad putting it like that don't it.) Jackie B.
     
  3. ithaca4e

    ithaca4e TS Member

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    Jack - I totally agree with you, but maybe we're the stupid ones.
     
  4. recurvyarcher

    recurvyarcher Well-Known Member

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    I pay cash for everything except my house/farm, on which I put half down. Everything else is paid for in full.

    The credit card and loan companies did a fine marketing job over the last 20 years, trying to make one feel like credit makes one a big-shot (Gold and Platinum cards...come on!!!). Most people fell for that crap.

    Believe me, you can live without all the glitzy stuff in your life. My family survived for years with just a hand pump at the kitchen sink, an outhouse, a wood stove, and a washboard and clothesline, growing our own veggies, hunting and fishing, and working hard and saving. We lived in joint family systems when necessary to get ahead.

    It's funny to watch people buy more and more stuff, only to throw it in the dump or give it away year-after-year. Most of these people buy this stuff on credit, too.
     
  5. BDodd

    BDodd TS Member

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    Kudos Devi. Straight stuff....Bob Dodd
     
  6. gdbabin

    gdbabin TS Member

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    To me it is not credit rates... It's the intrest rate of return I get on my investments.

    Guy Babin
     
  7. mizzou

    mizzou TS Member

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    Lower rates allow more businesses to be started, creating more jobs, lowering the deficit..It is the Republican mantra..what are you guys thinking..Devy, what's up with your line of thinking..I am really surprised at you..Mizzou
     
  8. drh08

    drh08 TS Member

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    Wow lower interest rates reduces your income hu? Isn't that depending on the government to maintain interest rates to maintain your standard of living??? Well you are correct that was a cheap shot and I am sorry, however lower interest rates do provide opportunities that higher interest rates don't. When money is cheap to barrow people can afford to expand things and yes afford things they couldn't. It jacks up consumer spending and the only down side is safe saving accounts don't pay anything anymore. so you pull your money out of saving and invest into other things that are using borrowed money to expand and make more money. Yup it all collapses in the end but if you get out in time you can make a lot of money.
     
  9. Shooting Coach

    Shooting Coach Well-Known Member

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    Dear Devi

    Do you have an older, single sister? She must have a good firearms collection. Send picture of firearms collection, please.
     
  10. recurvyarcher

    recurvyarcher Well-Known Member

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    mizzou, I didn't say anything...negative or positive...about interest rates. My comment was about borrowing on credit, especially when it comes to borrowing beyond ones means.
     
  11. DJM

    DJM Member

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    Saturday I looked at 5 year old boat that sells new for $28K. They told me they were selling because they could not afford the boat or the $4/gal gas it runs on and that they hardly ever used it. It did look almost like new. I made an $18k offer. The lady told me she could not take my offer as they still owed the bank more than that. I just shook my head in astonishment that they could make such a foolish move. I had to stop myself from asking her, "Are you nuts"? In my world you do not buy toys on credit.
     
  12. 4andy10

    4andy10 Member

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    I agree I'd much rather pay Poland to build a missle defense system for them to defend themselves, much rather bail out Fannie Mae and Freedie Mac with my tax dollars, much rather pay for the endless war in Iraq which I dont have an answer of what were gonna do about, than to actually help people in the U.S. I put just as much blame on the credit card companies, lending institutions making loans that should've never been made to begin with. Yes it to pisses me off when deadbeats get what I call intitlements for nothing. When I was younger working hanging tobacco in the top of a barn, the fellow working with me was on the disability draw at the time and boasted of never having a job and never would. He had it made. My uncle is on the draw because he's an alcoholic that's tried unsuccesfuly to kill himself at least a hundred times. Heck, he had it before my dad did with COPD and dad had 14 percent use of his lungs according to the doctors. IF WE ALL FISHED I DON'T BELIEVE WE'D EVER RUN OUT OF WORMS ON THESE ONE!!!!!!!!!!!!!!!!!!!!!!!
    4ANDY10
     
  13. pendennis

    pendennis Well-Known Member

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    The Fed has reached the point where lowering the "prime rate" has diminished its effect. I don't believe that any further lowering will help the confidence in investors. The amount of funds chewed up in the debacles with AIG, Merrill-Lynch, and others, is keeping funds out of the market, and foreign investors are probably holding on to money, waiting to see what happens.

    With such a low prime for borrowing, it also affects the other side lowering the return on investment.

    With the Dow down 500 yesterday, and only up 150 today, there's still a lot of doubt out there.

    Dennis
     
  14. SeldomShoots

    SeldomShoots Active Member

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    I agree that the self-induced debtors of this country living high off the hog when they should have been conserving, should go down in flames. However, lending institutions who jumped on and promoted this train wreck waiting to happen with 100% financing of homes should go down in flames too.

    However, I agree, other countries need to defend themselves first before we step in. And while I am at it, lets forget about foreign aid, reform NAFTA and lets get this country back on track.

    recurvy, sounds likes you manage your funds well and live within your means. I try to also, just wish most of the people in this country did.

    Mizzou, I think you were being sarcastic to prove a point, and yes that seems to be mantra republicans like to throw around, but tax abatements, and tax credits based on number of people employed and lower interest rates on small business loans help business. Some extra money flowing into the economy doesn't hurt, but it never seems to last because people spend beyond their means and then the flow of money stops. Lowering the interest rates typically, will help those who live within their means pay their home down faster because they put the savings interest toward the principal payment. However, most do the scenario described by DJM and pi$$ the money away on toys or vacations. It might be different if they did some actual home improvement that helped their home or land appreciate in value or they made investments that earned more interest than they pay.

    John E.
     
  15. Bisi

    Bisi TS Member

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    Recury, I’ll let Shooting Coach have your older sister since he asked first. You got a younger sister? If you do have please send a photocopy of her latest financial report.


    Bisi
     
  16. recurvyarcher

    recurvyarcher Well-Known Member

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    Wow, Bisi is smart...he doesn't care if that my little sister is married. The big questions is, does she want a boy toy? Send pics, please...
     
  17. Bisi

    Bisi TS Member

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    Recury, people say I could be Brad Pitt's twin.
     
  18. recurvyarcher

    recurvyarcher Well-Known Member

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    Which one, Knox or Vivienne? My sister LOVES babies...
     
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