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We need a higher interest rate

Discussion in 'Off Topic Threads' started by VNVET, Feb 15, 2010.

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  1. VNVET

    VNVET Member

    Joined:
    Nov 25, 2007
    Messages:
    283
    Went to my bank today to look into financing a fairly pricey zero turn mower. I was shocked at the interest rate and when I asked why.......here's what I was told. When banks can borrow from the Feds at rates lower than they can buy treasury bonds at 4 percent with no risk, banks aren't interested in making loans. Zero money for small business, zero money for consumers, and have you checked the interest rate dealers are charging for new vehicles? I was at the dealership this afternoon getting some service work done. I wandered up to the showroom and ran into the saleman who sold me my truck. He told me with the new consumer credit rules comming, he expects interest rates to climb to 15 percent for autos. This is all hearsay info but it makes sense to me. We may as well bend over and kiss our a** goodbye.

    Jim
     
  2. halfmile

    halfmile Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    15,649
    Location:
    Green Bay Wisconsin
    Nice free ride, borrow at 0 percent, make 4 per cent on treasuries.

    Nice to be in the ruling class.

    Now, about that ransom note...............

    HM
     
  3. smsnyder

    smsnyder Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    4,830
    YEA, Bank CD's don't pay beans. Maybe 1.5%. I am better off putting my money under my pillow
     
  4. Bisi

    Bisi TS Member

    Joined:
    Jan 29, 1998
    Messages:
    3,399
    I had a banker tell me the other day that next year at this time we will be seeing double digit interest rates on home mortages. I hope she doesn't know what she is talking about because if she is right the housing market will get even worst.

    Now if you have money like my 85 year old Mother and are trying to live on interest you will be hurting. Every time I see her she asks me what to do because every CD she renews is paying in the 1% range. If you want to tie your money up for 4 or 5 years you might get 3 percent. Everybody says inflation is just around the corner, and to not tie up your money very long. Stick it in the market? she has lost enough already. I don't have any answers.

    Most of the shooters at our club are older and I know the decrease in income has really cut back their shooting. Even if you had a million dollars and put it into CDs you would only earn 15K a year anymore. I'm really surprised any shooting at all is going on.
     
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