A simple way to get consumers to borrow less and save more.

[Gary Farnsworth]

Interest rates on home mortgages was 21% in 1971. My first home that year cost $19,975 built to my specs. It is all realtive.

As stated this morning by a Wall Street economist on Glenn Beck, more debt by the US Government has been created in the last six months than in the last 30 years combined. We, as taxpayers, will have to pay it back somehow. Perhaps when interest rates climb back to 21%, more revenue will be collected to the banks and on to the government, in order to pay some, if not most, of the debt off. We will suffer no matter what. We have no control over our government. We elected these people. They only way we can save our country is to elect them out. We, however, are just sheep being controled by the dogs.

[Michael Larson]

[Michael Larson]

If you wanted a cheap rate on a mortgage you may be too late.

Rate Trends Please wait
Source: Bankrate.com

[Brian E. Kelly]

Originally Posted by mlarson

Totally agree with this one Michael.

[Michael Larson]

Originally Posted by bkelly2

Totally agree with this one Michael.

Yes the math never lies Brian. We are all screwed.

[Nick Gromicko]

Michael writes:

Our total foreign aide budget is less than $25 Billion.

Me thinks you are forgetting about the costs of defending (and from time to time, liberating) our allies.

[Michael Larson]

Originally Posted by gromicko

Michael writes:

Me thinks you are forgetting about U.S. defense of our allies.

Not at all Nick.

Shall we bring all the troops home?

[Joseph A. Ferry]

Our total foreign aid budget is less than $25 Billion.

I would be thoroughly astonished if that number is anywhere near being correct.

When I was at Ft. Sill, OK, we must have let FORNs blow up ten times that much ordnance.

[Kenneth A. Townsend]

Joseph, I will vote for you for president!

[Michael Larson]

Originally Posted by jferry1

I would be thoroughly astonished if that number is anywhere near being correct.

Facts are stubborn things.

and Obama wants to double that

[Nick Gromicko]

Defense budget last year was 762 Billion, much of it spent on foreign aide (defending or liberating foreigners).

[Michael Larson]

Originally Posted by gromicko

Defense budget last year was 762 Billion, much of it spent on foreign aide (defending or liberating foreigners).

It's OK with me.

As the lone super power(at least for now) we have certain responsibilities to attend to.

A pie chart representing spending by category for the US budget for 2009


The President's budget for 2009 totals $3.1 trillion. Percentages in parentheses indicate percentage change compared

[Kenneth T. Loper]

politicians get everything given to them.its not there money there spending.

[Nick Gromicko]

Kevin writes:

Didn't you just preach in another thread that no one should be saving and should be buying hard assets?

Yes. Saving dollars is dumb right now. But if the government truly wanted to increase saving rates, all they have to do is raise interest rates to make borrowing more expensive and saving more lucrative.

Frank writes

Hey Nick..... Make up my mind will you!

I haven't changed my mind. If the government wants to increase saving rates, they should raise interest rates. And yes, no one should be saving dollars right now. Borrowing is too cheap and inflation is right around the corner... so borrow to buy hard assets like businesses and gold. You can pay it back with worthless fiat money later.

[klott]

Originally Posted by jferry1

The nation is doomed. I just hope it doesn't happen in my lifetime.

The only way to save it is to vote the anti-incumbent ticket until our vulgarian political class finally gets it.

Bingo!