F***king feds............... Fed orders emergency rate cut to 1.5 percent

personally i cant wait Till the feds drop it to 0 % and the stock market falls 1000 pts in a single day to shows this stupid SOBS it wasnt the interest rate that cause this problem it was the stupid Bast____s that took loans they could not afford to pay back


Heres a question people are not asking WHAT THE HELL DID THESE PEOPLE DO WITH THE EXTRA CASH


3 years back i looked into a loan and VAR rate was .5 to 1% lower then the fix rate

so if you took out a 100,000 buck loan that was a savings up to 1000 per year ....

yes 1,000 bucks isnt much on a 100,000 buck loan but its still more then 1,000 bucks the fixxed rate people had.

yet they was not complaining when they were getting a better rate. If you was too Stupid to figure out that your RATE Would go up that is your problem.

like i said before i love the lady on tv few months back

IM GOING TO LOSE MY HOME....

so they cut rates so she saves money to put on her home to save it, NO she runs out and buys a brand new car cause in her words


When will i ever get a rate this low
 
I like how Ben Bernanke is a fucking dumbass who thinks he's a hotshot whose job it is to "save" the economy in the short term--only to destroy the dollar in the long term.

1.5% is absurdly low, and it's only going to flood the market with more cash and send inflation up even higher. Bernanke needs to learn that his job is ONLY to control inflation.
 
[quote name='lordwow']Ummmm if you have a CD your rate is locked, unless you took a variable rate CD, which would be stupid.[/QUOTE]

CD is coming due next week. Found out that you dont have to have the money until the settlement date.

CD comes due OCT 14 picked up a new one today that closes on the 16th.

2.5% talk about BS... (these are 1 month Cds i dont like having my money tied up for a long time now due to personal reasons ie health)
 
I think the Fed clearly made the right move. The way to fix the excesses of cash liquidity is to inject cash liquidity.

Wait, what?
 
[quote name='lordwow']Well, I mean, 1 month CDs are basically useless. What do you make like .25% more than a savings account?[/QUOTE]
.25% of $1m is $2500. Nothing to sneeze at.

If my math is wrong, then I'm an idiot. Then again, I'm an idiot anyway.
 
Ya, but I can tell you right now that slidecage is not investing 1m. Probably closer to $1k if anything.

And at that rate, you're talking about dimes and nickles.
 
[quote name='lordwow']Ya, but I can tell you right now that slidecage is not investing 1m. Probably closer to $1k if anything.

And at that rate, you're talking about dimes and nickles.[/quote]


$2.09 is hardly dimes & nickels...




EDIT: you were comparing it to normal saving accounts rates...NM
 
Ya, but it's $2.09 total, which means he's only making about a dime more than if he left it in his savings (no-risk), and got $2.
 
[quote name='slidecage']personally i cant wait Till the feds drop it to 0 % and the stock market falls 1000 pts in a single day to shows this stupid SOBS it wasnt the interest rate that cause this problem it was the stupid Bast____s that took loans they could not afford to pay back


Heres a question people are not asking WHAT THE HELL DID THESE PEOPLE DO WITH THE EXTRA CASH


3 years back i looked into a loan and VAR rate was .5 to 1% lower then the fix rate

so if you took out a 100,000 buck loan that was a savings up to 1000 per year ....

yes 1,000 bucks isnt much on a 100,000 buck loan but its still more then 1,000 bucks the fixxed rate people had.

yet they was not complaining when they were getting a better rate. If you was too Stupid to figure out that your RATE Would go up that is your problem.

like i said before i love the lady on tv few months back

IM GOING TO LOSE MY HOME....

so they cut rates so she saves money to put on her home to save it, NO she runs out and buys a brand new car cause in her words


When will i ever get a rate this low[/quote]Good god your grammar is horrible.
 
[quote name='slidecage']like i said before i love the lady on tv few months back

IM GOING TO LOSE MY HOME....

so they cut rates so she saves money to put on her home to save it, NO she runs out and buys a brand new car cause in her words


When will i ever get a rate this low[/quote]

Slidecage actually makes a good point here. Many people are determined to fuck up their credit rating no matter how many breaks they get.
 
[quote name='slidecage']personally i cant wait Till the feds drop it to 0 % and the stock market falls 1000 pts in a single day to shows this stupid SOBS it wasnt the interest rate that cause this problem it was the stupid Bast____s that took loans they could not afford to pay back[/quote]

Because everyone who lost their homes lost them because they took bad loans. There's no way that anything else could have happened that caused this. Housing bubbles, you say? What's a bubble?

fucking moron.
 
[quote name='DestroVega']i wish my mortgage rate was 1.5.... mine is 7.25! and i got it last september[/quote]

I believe 30 year fixed mortgage rates are set at 5.99 percent now.
 
[quote name='slidecage']CD is coming due next week. Found out that you dont have to have the money until the settlement date.

CD comes due OCT 14 picked up a new one today that closes on the 16th.

2.5% talk about BS... (these are 1 month Cds i dont like having my money tied up for a long time now due to personal reasons ie health)[/quote]

Just a suggestion but you can divide the money you have into 12 equal parts, and open 12 1 year CDs. If you buy them one a month, you will have continued access to 1/12th your money every month and get a decent return.
 
[quote name='DarkSageRK']Because everyone who lost their homes lost them because they took bad loans. There's no way that anything else could have happened that caused this. Housing bubbles, you say? What's a bubble?

fucking moron.[/QUOTE]

no its people taking loans they could never afford. IF you cant Afford to pay for the items

THEN DONT BUY THEM simple as that
 
[quote name='gweenpea']Just a suggestion but you can divide the money you have into 12 equal parts, and open 12 1 year CDs. If you buy them one a month, you will have continued access to 1/12th your money every month and get a decent return.[/QUOTE]

bad thing about that is you will get less then 2.5 % if i did this. Banks around here offer like 5% if you give them 10,000.. Anything less then 10K its like 1.5 to 2.25%
 
When I entered this topic, I thought one thing:

"Who knows more, the Fed or slidecage."

The answer is obviously slidecage.
 
[quote name='help1']When I entered this topic, I thought one thing:

"Who knows more, the Fed or slidecage."

The answer is obviously slidecage.[/QUOTE]

The sad thing is, you're right.
 
[quote name='keithp']slidecage=the new vanillagorilla

Say it with me![/quote]

you have it backwards.. slidecage is OG
 
Slidecage, I suggest you write an intricate and detailed letter explaining your concerns to your local politicians. Failing that, just cc: your CAG posts to them and I am sure they will completely understand your well thought out, and well-spoken, point of view.

Guaranteed win.
 
http://home.ingdirect.com/products/products.asp?s=OrangeCD

Here you go slidecage. There is now minimum to start a CD but you have a choice from 6 to 60 months. One thing that might suck is that it auto renews so you have to catch it before it does that.

I always wanted to know this but for those with a CD does your percentage get paid to you annually or monthly? If you get it monthly for example, you have an account that gets 4% monthly do they pay you 4% on your principle every month or does it go off of the compounded amount.
 
It is compound interest and usually added monthly but sometimes quarterly or semi-annually. The bank will tell you upfront before you open the CD. This is why you want to look at APY (Yield) rather then APR (Rate) when comparing different CDs.
 
[quote name='cdeener']http://home.ingdirect.com/products/products.asp?s=OrangeCD

Here you go slidecage. There is now minimum to start a CD but you have a choice from 6 to 60 months. One thing that might suck is that it auto renews so you have to catch it before it does that.

I always wanted to know this but for those with a CD does your percentage get paid to you annually or monthly? If you get it monthly for example, you have an account that gets 4% monthly do they pay you 4% on your principle every month or does it go off of the compounded amount.[/QUOTE]

You get paid whenever the CD ends, but the interest compounds monthly at ING. When you apply you can choose to have all the money stay in the CD for the next year or whatever, or have the interest get shifted back to your account, and just renew the original amount.
 
[quote name='Scorch']you have it backwards.. slidecage is OG[/quote]

Slidecage is CAG version 1.0 :lol:

Also he seems to be the only one who hasn't heard of high interest checking accounts....
 
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