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Ausmerican.
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Good for the Mortgage rates mate....ours over the ditch here are way down at the moment as well.
 

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Ausmerican.
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They are still crooks mate.....:eek:
Cash rate = 3.25%.
Credit rate = 19.59%.
Go figure..... :rolleyes:
 

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The rates this low are harming older people who live off savings interest. In the US 1% on savings is a good rate these days inflation is several times that.
 

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Interest rates are killing me. Used to get between 3.5 and 5% now. Now 1 to 2.5%. I'm an old school saver. It's the Feds giving the banks money at 0% ( 2 Trillion to date)
 

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Its good for my mortgage 3.75% but not so good for my savings 0.1% last I checked.
 

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If you're going to re-finance your house, do it soon. Once the markets figure out that QE3 isn't working, they'll go up a few basis points, and then who knows how high they'll go.

Right now the national re-fi rate is about 3.4%.
 

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while it is true that the rates are lower, it is much more difficult to obtain a loan due to lenders not wanting their resources out long term at low return. it also makes it difficult to obtain a loan with fixed interest. my heart goes out to everyone who is coming of age in the financial world. dastardly, just plain dastardly! Dixie is experiencing hard times as well.
 

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Upset with your savings rate imagine how the Chinese feel with our treasury bonds? :rolleyes: Has inflation been under control for that many years that lower rates are justified? I know Slick Willie jiggered the CPI formula to stick it to social security recipients and I suspect that is the standard the fed uses to keep rates down. With all fuel costs high, groceries cost high and headed up and anything with metal in it outrageous then what is the true definition of inflation?

I personally believe the low interest rates aren't justified but are just an attempt by the fed to keep our borrowing costs down. We are printing money like it is going out of style and yet have no price or wage inflation?? I know figures don't lie but liars figure and I suspect this will all come to a head in the next 4 years.
 

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Correct Terry. If interest rates went up, we (the United States) wouldn't even be able to make the interest payments on the national debt. We would be bankrupt.

All part of the long-term plan of the Marxists/"Progressives" in DC. "Debauch" the currency and bankrupt the country.

Interest rates can't/won't stay this low forever. Plan accordingly.
 

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Skeptical of Everything
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We are printing money like it is going out of style and yet have no price or wage inflation??
This is one of my favorite subjects ... which is why I'm so boring. :D

Actually, we are not excessively printing money ... and this article from Forbes gives a pretty good explanation. It was written last year ... but still pertinent today.

The Myth That The Fed Is Printing Money - Forbes
 

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Unfortunately, that Forbes article doesn't tell the entire story.

Let's be clear, printing money is a term people like me use to keep from confusing the average person who hasn't studied the Fed or economics. The Fed buys MBS's (Mortgage Backed Securities), Treasuries (debt) (expanding the Fed's balance sheet), and other paper and that is not 'as' inflationary until those securities are sold back into the market. And yes, they will have to be sold at some point. Just the news that the Fed is buying these products (QE1, QE2, QE2, and soon they will need to go to QE4 since they know it's not working) is inflationary.

If you want a direct indicator of where our economy is headed, look no further than the Fed's balance sheet and the total supply of money (M0, M1, M2, M3). That will tell the tale. And the tale is this: When this money that has been created by asset purchases is loaned out and floods the economy, then you will really see prices increase. Isn't it suspicious that the Fed no longer tracks M3 since 2006?

Contrary to popular opinion, real price inflation is the fault of the government. Companies don't just increase prices willy nilly or they will lose business to their competition.

Peter Schiff puts all this in perspective: http://www.europac.net/commentaries/operation_screw
 

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Former Hoadpiler
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Upset with your savings rate imagine how the Chinese feel with our treasury bonds? :rolleyes: Has inflation been under control for that many years that lower rates are justified? I know Slick Willie jiggered the CPI formula to stick it to social security recipients and I suspect that is the standard the fed uses to keep rates down. With all fuel costs high, groceries cost high and headed up and anything with metal in it outrageous then what is the true definition of inflation?

I personally believe the low interest rates aren't justified but are just an attempt by the fed to keep our borrowing costs down. We are printing money like it is going out of style and yet have no price or wage inflation?? I know figures don't lie but liars figure and I suspect this will all come to a head in the next 4 years.
Thats why I invest in "things". I keep enough cash to live on for six months but after that I buy steel, lead, and brass. Oh, and silver in the form of junk us coins.
 
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