To: Tolsti2
We’ve been waiting for this. This is not bad news for savers.
5 posted on
03/26/2011 9:00:54 AM PDT by
Marie Antoinette
(Proud Clinton-hater since 1998.)
To: Marie Antoinette
Here again, the result may be that the Stock Market tanks once investors head for the hills and start buying CD’s again.
This will be Carter redux. The overall economy may wind up on it's back in short order.
9 posted on
03/26/2011 9:06:50 AM PDT by
PSYCHO-FREEP
(Patriotic by Proxy! (Cause I'm a nutcase and it's someone Else's' fault!....))
To: Marie Antoinette
11 posted on
03/26/2011 9:11:29 AM PDT by
al baby
(Hi Mom!!! <sarc>)
To: Marie Antoinette
This is not bad news for savers.
In the mid-90s, I had a money market drawing about 8%, which was moderate-low.
Two years ago, I had some 4% CDs mature. The renewal rate was 2%. When those 2%-ers matured, the renewal was 1%. I was regretting that I hadn't bought longer-term CDs when I first bought the 4%-ers. lol.
The rates have been so low for so long that they have kept cash coming into saving accounts, thus providing loan money for financial institutions.
19 posted on
03/26/2011 10:10:34 AM PDT by
TomGuy
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