It’s the whole point of low rates, to entice borrowing and discourage saving, but it means a massive wealth transfer from savers to borrowers.
– Greg McBride, Senior Financial Analyst, Bankrate.com
All our clients are struggling with this. It has never been as bad.
– Cary Carbonaro, Financial Planner, New York City/Long Island
Quoted in “Falling Rates Aid Debtors, But Hamper Savers”, Graham Bowley, The New York Times, September 9, A1
A couple weeks ago, regarding the so called “Rebuild California” propositions and their effect on outstanding state of California debt I wrote: If you are an owner of State of CA municipal bonds, as many people are because the interest is…
A starting point for becoming knowledgeable about business and finance is simply to read The Wall Street Journal everyday. If you just do that, you’ll find your knowledge and understanding growing all the time and you’ll be way ahead of…
You know Wall Street couldn’t go more than a few weeks without obsessing about the Fed and if there is going to be a rate cut this year or not. I swear to God…… The immediate cause is today’s April…
Lot’s of good economic news, or economic news that has been interpreted as good, the last couple of days. Yesterday (Thu) before the open, The Commerce Department reported that preliminary estimates for 1Q 2007 GDP had been revised down to…
The big event for today turned out to be a speech given by Fed Chairman Ben Bernanke to the International Monetary Congress in Cape Town, South Africa via satellite before the market open this morning. This speech somehow reaffirmed the…
“The whole story is interest rate worries.” – Stephen Carl, head trader Williams Capital (subscription required) “A lot of people are trying to come to grips with the idea that the Fed is just as likely at a future meeting,…