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We've had a tripling of the value of our home up until 2 years and we've given back 20 percent of that increase. Even if home prices in our area dropped by a third off the top, I would consider that a normal correction rather than deflation. We'll have had a 100 percent increase in 10 years which is nearly twice as much as the historical average of 4 percent a year.
Many bank checking and savings accounts pay .20 or less, which makes those 3.5 rates seem downright giddy.
Stocks are down.
Bonds are down.
Money market rates are down.
Savings rates are down.
There is virtually nowhere savers can stay ahead of inflation... and save for retirement. Exit social security, and that will be the definition of screwed.
or privatize it and the idiots will be screwed while intelligent responsible people
will benefit
I have been invested in gold and mining stocks since 2004. I would suggest a gold mutual fund or ETF to get started, then later, if you wanted, you could build a basket of select stocks.
Gold has skyrocketed, but many believe it still has room to run. Gold and global currencies are a hedge against a declining dollar, so if you believe the dollar has a downside bias, they're worth a look. Good luck!
Inflation is over 10% This lowering of interest rates is the way they will destroy the last remaining middle class wealth. I yearn for the 80's double-digit interest rates!!
Interesting side effect of the Fed lowering the funds rate.
Did anyone else's savings rate drop? Just curious.
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It was 4.25....drat.
I'm still earning 4.29% through paypal.com money market funds.. and I can remove it any time I want..
E*Trade is giving me 4.4% down from 5.05% last week, but with the increasing spread between my loans and savings there is less incentive to keep money in savings, and start paying down loans faster, admittedly I still need some just in case, but still.
Interestingly I have not seen student loan interest rates or car loan interest rates or personal loan interest rates drop. So they must be increasing their profit margins on these. I'm going to refinance my car loan with a credit union out East I have and account with if I can, the interest rate is only 3.75% there.
Inflation is over 10% This lowering of interest rates is the way they will destroy the last remaining middle class wealth. I yearn for the 80's double-digit interest rates!!
Double-digit interest rates would be awesome. Bring it on. Unfortunately there's an 86% chance that they are going to lower the intersst rate 50 basis points in March.(as of 5 minutes ago).
Screwed again. Why aren't the fixed income people up in arms?
Location: Georgia, on the Florida line, right above Tallahassee
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Ermm..just in case anyone has missed this...
As the Fed lowers interest rates...you make less money on your savings.
Which screws people who save...but really helps that housing market. I guess.
To save the housing market - I am now losing money.
Thanks a lot.
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