Hmmm....Joe Biden....Jimmy Carter....Joe Biden....Jimmy Carter.
Jimmy Carter has some redeeming qualities—just not as President. One thing that I do remember him fondly for, though, was the 16.65% interest that I earned on a Certificate of Deposit that I bought during his term. Of course, my friends, whose variable interest rate on their house went to 18%, didn’t thing of him so fondly.
If we start slinging government money around like we’re doing, Yardeni’s 3% Treasury yield prediction is going to look rather quaint.
My first mortgage in ‘88 was a 15%, 1 year adjustable with a 2% cap. When I sold it, the rate was getting ready to move up.
It was nuts. I should have rented.