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02-06-2011, 09:12 AM | Topic Starter |
Cheaterlover*
Join Date: May 2009
Location: RI
Casino cash: $10010716
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How did this country end up in the crapper? (Interest rates)
Not intending this to be a political discussion bound for the Shithole, so I'm not going to speak of either political party (although I'm sure it will come to that soon enough, and be whisked away to that section of the site).
A few years back--not 30, or 25 years, even, I'm talking maybe 5--we used to put some of our savings into CDs. A thousand here, two thousand there. The rates were around 5-6%. Then, only a few years later--maybe 2 or 3 years back--the rates dropped drastically, to 2.5-3%. I decided it wasn't worth tying up the money, so I just put it in a savings account. Well, today, I decided to check on CD rates for shits and giggles, because my wife had a fun day at the casino and won $1000. What do I find? CD rates of 0.25-0.75%. But wait! If you're a member of the bank, you get a whopping 1%!! And that was on a 3-year CD! Gee, let me run to lock up my thousand bucks for THREE YEARS just so I can earn a whopping TEN BUCKS! What the **** has happened to this country? No wonder people don't save money! Why bother? You save money, by the time you save it the inflation rate has actually made it worth less than when you put it in there! Remember the days of being a kid, 30 or 40 years ago, when you'd get your little "passbook savings" account and get, say, 16% interest on your money? So we have banks giving us no money back on our investment with them, so they don't have any of our money, so to make money they charge us 18% (or even more) on our credit cards. We're not saving any money, and we're paying exorbitant interest rates. This country is so ****ed. |
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02-06-2011, 09:16 AM | #2 |
Because I can
Join Date: Feb 2006
Location: Jets/Giants/Bills country
Casino cash: $9800002
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......and that's when the WHORES come in.
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02-08-2011, 08:48 AM | #3 |
MVP
Join Date: Feb 2007
Location: Liberty, MO
Casino cash: $3804112
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02-06-2011, 09:17 AM | #4 |
The Maintenance Guy
Join Date: Sep 2005
Location: Renovated Bugeater Estate
Casino cash: $6232680
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Ayep.
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02-06-2011, 09:23 AM | #5 |
Supporter
Join Date: May 2005
Location: Who knows?
Casino cash: $2745884
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This.
When I worked at a bank 10 years ago CD rates were 5% to 6% long term. What's the point anymore? |
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02-06-2011, 09:26 AM | #6 |
Molôn Labé
Join Date: Sep 2001
Location: North Carolina
Casino cash: $8566872
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Posts: 23,164
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02-06-2011, 09:29 AM | #7 | |
Supporter
Join Date: May 2005
Location: Who knows?
Casino cash: $2745884
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Quote:
Why tie up your money and pay a large penalty if you need to move it for chicken feed? Might as well do away with them. About the only good they present is rolling income that gets dispersed at a preset time without the need for lawyers. |
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Posts: 83,522
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02-06-2011, 09:34 AM | #8 | |
Molôn Labé
Join Date: Sep 2001
Location: North Carolina
Casino cash: $8566872
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Quote:
so now basically I pay all my bills with my perkstreet card and buy all groceries and anything I can with it. 2% is not much but better than nothing.. Have accumulated about 100 bucks since the middle of Dec |
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Posts: 23,164
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02-06-2011, 09:47 AM | #9 |
Cheaterlover*
Join Date: May 2009
Location: RI
Casino cash: $10010716
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I told my wife, "You can go to the casino, throw twenty bucks at a machine, and--if you happen to do well for a few minutes--you'll make more money in 5 minutes than you'll make in the bank in a year."
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02-06-2011, 09:30 AM | #10 |
Supporter
Join Date: Oct 2000
Location: In a shotgun shack
Casino cash: $9955202
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I remember about a year ago I was going to put some money in CD's and when I looked at the rates I thought I was seeing a typo. Yeah, you're better off keeping it under the mattress.
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02-06-2011, 09:21 AM | #11 |
Because I can
Join Date: Feb 2006
Location: Jets/Giants/Bills country
Casino cash: $9800002
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Men laying their trick-money down. Twenty dollars to pay the rent? Maybe not. Maybe instead I'll spend it on the WHORE.
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02-06-2011, 09:55 AM | #12 |
Stuff & Things
Join Date: Jan 2006
Location: The Yukon
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02-06-2011, 09:25 AM | #13 |
Molôn Labé
Join Date: Sep 2001
Location: North Carolina
Casino cash: $8566872
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Allowing people to buy things based on a FICA score rather than an actual debt to income ratio is what killed most in this country.
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02-06-2011, 09:52 AM | #14 |
Banned
Join Date: Jan 2011
Location: floatin cobwebs n the sky
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They should rename the Super Bowl the Reagan Bowl. With the Reagan cocktail franks and the creamy Reagan Ranch dip on our chins. Schwing!
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02-06-2011, 09:54 AM | #15 |
Boom, Boom , Crash
Join Date: Sep 2000
Location: In my shed
Casino cash: $9995760
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Yes it is, and I would appreicate it greatly if you bunch down south would stop trying to drag us Canucks into a recession with ya !!
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...Illegitimus non Carborundum est... |
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