General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsA Little Inflation Isn't All Bad:
You may receive the first interest payment in years in your savings account for the holidays. Just saying.
Ocelot II
(115,900 posts)CDs and money market funds, for example - it would be nice to see a little more of that. I once had a CD that paid 10%.
demosincebirth
(12,544 posts)Ocelot II
(115,900 posts)North Shore Chicago
(3,335 posts)Held CD's that paid 13% back then. It was great being a saver, not so much for interest rates on borrowed money, in the teens.
Ocelot II
(115,900 posts)OTOH, mortgage interest was terribly high - I remember a guy talking about buying a new house and he was actually happy to get a 13% mortgage.
WA-03 Democrat
(3,056 posts)Makes that real estate in the non-coast area go up for sure
rickyhall
(4,889 posts)Haven't seen heating bills yet either.
Haggard Celine
(16,860 posts)for my earnings from my little job. My parents still paid all of my expenses, so the money added up pretty quickly, even though I only made about $3.35 per hour. I think the interest I earned on that account was 5%. I thought back then that the 5% interest was the natural order of things, that I would be able to count on that if I saved my money. I've wished many times that we could make that interest on our accounts today instead of having to invest in much riskier ways to make our money work for us. The stock market, for example, pays a lot more than 5% in the long run, but its success isn't guaranteed.
Tomconroy
(7,611 posts)Volatile but less risky than many investments.
Joinfortmill
(14,481 posts)Shermann
(7,455 posts)Tomconroy
(7,611 posts)In 1955. They paid it off 30 years later in the mid 80s. They were big winners.
Inflation is the friend of debtors.
roamer65
(36,747 posts)The Federal Reserve isnt taking the punchbowl away just quite yet.
Plus higher rates on $29T will cause a massive fiscal crisis for the government.