0.25 interest rate hike

Geeko Sportivo said:
Look, I just mentioned CC rates as a minor example, the Mortgage loans and long term automobile loans was the gist of what I was really talking about.

It is true that after the CARD act in 2010 went into effect, most major credit card lenders since, have used adjustable rates, but not all do however.

But if that confuses anyone, just drop the CC's from my comment. I'm not here to confuse anyone.

Thanks!
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My point about CCs was that before Obama changed the regulations, CC companies were hiking interest rates on existing balances. So if you had $10,000 on a card at 12% interest, the card company hiked the rate to 20% overnight leaving millions of people freeking out. I'm not sure if trump did away with that regulation when he screwed over the middle class with his overhaul of the tax system?

I don't have any balances on my cards, no mortgages, and no car loans. Interest rate hikes are my friend now. Should be for most elderly retired people too who have savings.
 
zymurgy said:
interest rates are public. we all see them. your vanity about working at FRB is just that. vanity. Had no bearing on anything but feeding your own ego.

The 70's were a volatile time. The world called us out on our reckless spending and the entire system started anew. The 70's were much like covid of late - nobody was sure how to handle things as it was all novel.
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I can tell you many things I learned while working at the FRB, that most people do not know, unless they worked there?

Do you know how money is transferred from one Federal Reserve Bank to another in terms of debiting or crediting them, after their daily transactions?

Let's see what you know about it Mr. SMARTY PANTS!

I know exactly how they do it, because I personally had to balance the books every day before I could even go home.
 
Geeko Sportivo said:
I can tell you many things I learned while working at the FRB, that most people do not know, unless they worked there?

Do you know how money is transferred from one Federal Reserve Bank to another in terms of debiting or crediting them, after their daily transactions?

Let's see what you know about it Mr. SMARTY PANTS!

I know exactly how they do it, because I personally had to balance the books every day before I could even go home.
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you want me to feed your vanity. LMAO

You should hop over to the LSD thread - if anyone needs ego death, it is you
 
Geeko Sportivo said:
I worked at FRB Dallas 1970 - 1980, and witnessed first hand how The Fed raised the interest rates all through the Jimmy Carter years, BUT SWITCHED GEARS IMMEDIATELY AFTER RONALD REAGAN'S WIN- and lowered them all through his presidency.

Another coincidence? A Change in strategy? OR JUST PURE SAME OLD NASTY POLITICS TO MAKE A DEMOCRAT PRESIDENT LOOK BAD? :thinking:
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trump pressured the Fed to lower rates, and they jumped right on it. Obviously just a coincidence
 
Althea said:
trump pressured the Fed to lower rates, and they jumped right on it. Obviously just a coincidence
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Remember when Trump asked the Fed Chairman for a negative interest rate?

And the Fed had to tell the president, "No Sir, we can't be giving our money away to banks and paying them to take it Mr. President"! :laugh:
 
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The people won’t be convinced that things are falling apart with these kinds of numbers



The Republican Party is ultra fucked now
 
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