Posted by We Regret To Inform U on Mon, Sep 6, 2010, at 5:02 PM:
I want to see 17% Money Markets again. The last time it happened I was the borrower. That sure would make BO's position better felt by the young people that voted for him.
I voted for Carter and that's what I got. It sure taught me something about liberal politics.
Replies (12)
Yep! Caveat Voter!
-- Posted by vietnamvet on Mon, Sep 6, 2010, at 5:23 PM
Remember how much it stung to see the principal vs. interest amortization table on my 9.5% first-home loan and 13% car loan some years later.
Interesting exercise to see how much house or car one can afford at those rates - sure, one can still buy 'em, just much lesser versions.
Flippin' CDs are renewing at 1.4 - 1.5% for a 12-month with my institution, many of the money markets are less than 1% - and then to have to pay income tax on top of that - pffft, just about as well-off to do a mattress-stash. Talk about a turn-off for investors providing the money to borrow.
Remember my aunt cackling, guffawing, and going on about the 12% she was getting on her CDs back then. Didn't fully appreciate nor understand the humor at that time, but I guarantee I'd be ho-ho'ing and ha-ha'ing now.
-- Posted by fxpwt on Mon, Sep 6, 2010, at 5:25 PM
Regret: And that illogical thinking is supposed to do what...teach them a lesson? In one of your previous posts you stated misery loves company. I was going to respond at the time but decided not to. So now I will just say it must be crowded where you are. You have got to be the most negative person to ever post on here.
-- Posted by howdydoody on Mon, Sep 6, 2010, at 5:53 PM
Howdy,
There wasn't a lot positive about borrowing money in 1980. Some small business paid over 20%. I remember some of the slogans; More in Store for 84 and then in 84 it was Survive to see 85.
Those of of who lived those rates do not think they were in the least funny. We were just happy to survive that disaster.
-- Posted by Have_Wheels_Will_Travel on Mon, Sep 6, 2010, at 6:06 PM
Oh dear lest I have to deal with the language police again today, that of of should be "of us"
-- Posted by Have_Wheels_Will_Travel on Mon, Sep 6, 2010, at 6:58 PM
Today Reagan is incorrectly remembered as this patron saint of fiscal conservatism. However his two greatest contributions to the relatively stable economic boom period of the mid 80's to early '00's was that he allowed Volcker to keep interest rates at the high levels that the market demanded, and he did nothing during the 10/19/87 stock market crash.
-- Posted by Lumpy on Mon, Sep 6, 2010, at 7:53 PM
17% Money Markets, coupled with double digit inflation rate (and unemployment) did not beget a good consumer purchasing power.
-- Posted by Me'Lange on Mon, Sep 6, 2010, at 6:18 PM
Mel it was tough back then. I worked 3 jobs and still pitched hay or drove tractors on my time off. If you didn't work hard there was 3 people ready to take your place no matter how bad the job was. I still remember the Jay's Fried chicken add. Help wanted ...Mean boss, bad hours, low pay.
I know my mother and other savers liked it. She is withering now but I can bring up the 17% MM's she used to have and it brings a smile on her face. Of coarse mom dreaded the day when it dropped to 8%.
I remember my bank offering a 18% car loan when things started to come back and people flocked to get them.
-- Posted by We Regret To Inform U on Mon, Sep 6, 2010, at 8:07 PM
Lumpy
Reagan's biggest asset was the ability to get the citizens feeling good about things and spending money. That is what it takes for the US to rock and roll. Scaring people into setting on their cash stops the show and then causes trickle up poverty.
-- Posted by We Regret To Inform U on Mon, Sep 6, 2010, at 8:12 PM
You have got to be the most negative person to ever post on here.
-- Posted by howdydoody on Mon, Sep 6, 2010, at 5:53 PM
No that would be the whine bag liberals.
-- Posted by We Regret To Inform U on Mon, Sep 6, 2010, at 8:34 PM
Willy...I feel sorry for you. I would say stop and smell the roses, but you would just complain about the thorns.
Negative, pessimistic and blinded...
-- Posted by Theorist on Mon, Sep 6, 2010, at 8:46 PM
Ther
I am happy. Things are good for me. I live what I consider a good life and have a ton of friends.
I was LUCKY enough to make it to retirement. Now my employees are hurting from the slow down and may eventually lose their jobs. I'm trying to keep them busy hoping I can keep them in work. Now I know you don't want me to enjoy my retirement and would rather me give my money to Obama for the better good.
When you give away all of your money and assets let me know.
It is amazing how the table has turned in the last 18 months. I told you guys that there would be payback for the hatred the liberals spewed on here for years before BO was elected.
I am just applying payback as deserved. Enjoy!
-- Posted by We Regret To Inform U on Mon, Sep 6, 2010, at 9:39 PM
Theorist, No comment as usual, Just your meaningless scattering of words. Make a point worth reading.
-- Posted by voyager on Mon, Sep 6, 2010, at 9:48 PM
I remember those days well. My bank pointed out my 9% home loan had what was called a balloon note. They were willing to do me a favor and only raise it to 15%.
Our best friend and best liberals to this day blame Reagan for the demise of their high paying CDs.
I think Reagan did the right thing by staying out of Volker's policy decisions.
The wage and price control thing can be traced to the cause of economic woes over and over again.
-- Posted by Old John on Mon, Sep 6, 2010, at 11:55 PM
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I want to see 17% Money Markets again. The last time it happened I was the borrower. That sure would make BO's position better felt by the young people that voted for him.
I voted for Carter and that's what I got. It sure taught me something about liberal politics.
Replies (12)