The economy is out to kill the best of us it seems, and All Things Financial is about to gear up here to give out the most important information that my ears can hear and my eyes can read. My interest in how all of it is flowing has grown with the devasting news we see everyday online and in watching television.
It seems we get one thing fixed and something else breaks. We now know that the cap is on the oil leak; for today it is working, we are not sure about tomorrow.
The President gave a speach today saying that the financial bill lowers the deficit. Do we Americans believe him? I am not so sure. Let's get serious here. This mess has been going strong now for what, three years (+ -). We have not seen the light of day hardly for any new improvements in the goods we have to buy or items we must purchase. Gasoline is not as high as it was previously but it is still not as low as we would like it. Banks are still not making loans as they once did because they have been burned. Yes, the government is trying to regulate them like they are now regulating the housing market. Does that make everything okay for us if the government is in control? I don't think so and mind you I am not a financial expert but I do understand that the government is head over hills in debt and it looks like there is no way to ever recover from this vast amount of debt. What is it now? Trillions, or soon will be?
Just today the highest 36 month CD rate is a 2.500%. No way to accumulate much savings with the CD. The interest bearing checking account is less than this but in the long run if balances are kept at average it might could generate about as much savings.
I noticed today that AmeriSave has a 3.750%, 30 year fixed rate for new mortgage loans. Other average rate are ranging in the 4.600 to 4.74%. Rate are good and can't beat that, but how in the world is our economy going to become stable with these low rates which are allowing the troubled homeowner to refinance? Please note that I have recently read that trouble might be on the way in the form of Mortgage Meltown, number two. I hope for all our sakes this is not true but from reading other informative places; this could be what the mortgage industry is leading to again. Except this time; the Federal government is in charge of things and if they fail; who will pick up the tab?
What else is brewing in our free America, financially? Just read an article about living debt free. You can find it here. I will be following this article as it is interesting and challangeing. I work on my own debt free status as I have to because I am semi-retired and have no choice but I must get better at it and so should you before you have to.
I am going to be sharing any and all information I find which might just help all who are interest in finance. I do not know everything there is to know but I am the type person that I let other people's knowledge help me. If you have any ideas to share, do it here. We will find ways to explore the most important issues of our current financial crisis and All Things Financial.
