Economy

Has anyone been following the two crazy phenomena?

1. Mortgage rates closing in on 7%! They were below 3% not that long ago.

2. Dollar at or above parity with euro, longtime high against Yen and getting close to parity against pound.

Smart people must be making a killing….

As for me, buying records from abroad is suddenly much more attractive! :)

As far as live music, the strength of the dollar must make touring the US more attractive for international acts. If you combine increasing ticket prices in the US with the more favorable exchange rates you might be looking at a 50% premium from pre pandemic earnings.

CD rates 4%
Savings 3%

I feel like it hasn't been this high since Clinton was in office (ok looks like it went into bush's first year)
Yes, mortgage rates are up, so big impact on lots of things too

but this is much better for the poor and lower middle class, I hope this encourages more savings

Money Market is still at a pathetic 0.01 %
not sure what is up with that, but that is a financial vehicle that I've never seen anything from

IMBSHO this is the dagger at Democrats chances in the midterms. Hoping the American people realize it’s just a blip and vote smart…just something that had to happen due to economic policies to deal with covid shutdown. Not too optimistic

https://www.cnsnews.com/article/national/terence-p-jeffrey/food-prices-156-under-biden

Gross domestic product rose 2.6% in the third quarter versus the estimate of 2.3%.

CD rates still climbing
4.75% 19 month CD with no min
https://www.synchronybank.com/banking/cd/

this has the SideFi seal of approval

been over 2 decades since we've seen these rates…especially with no minimum
typically to get that rate back then it was a min 25K 5 year CD.  No min and less than 2 years is great

Inflation is for sure impacting things (7.7%!)

but at least you can hedge against it with a much nicer return on a super safe FDIC insured investment
Stocks and Real Estate have (and likely still will) been by far the best return, but there is surely a LOT of risk too
people only look at the past and great returns, there is no guarantee that will continue

DeathOrFreedom wrote:
CD rates 4%
Savings 3%

I feel like it hasn't been this high since Clinton was in office (ok looks like it went into bush's first year)
Yes, mortgage rates are up, so big impact on lots of things too

Starsky wrote:
IMBSHO this is the dagger at Democrats chances in the midterms. Hoping the American people realize it’s just a blip and vote smart…just something that had to happen due to economic policies to deal with covid shutdown. Not too optimistic

https://www.cnsnews.com/article/national/terence-p-jeffrey/food-prices-156-under-biden

also, was nice to see this didn't totally destroy the dems and people voted for sane politicians vs 'it's the economy stupid'

So you put your $ in bank and literally lose money

Doesn’t make sense.

Starsky wrote:
So you put your $ in bank and literally lose money

Doesn’t make sense.

so just spending it is the obvious choice?  (I mean you are not wrong, but you didn't offer an alternative)
this is low risk and this is a hedge against that, because in 19 months you will be better off than if it was under the bed

Not sure I'd recommend stocks or real estate as safe places to put your money (although that's where 98% of mine is, but I'm ok with the risk)

One year anniversary of Inflation Reduction Act:

Inflation on Aug 16, 2022: 8.5 percent

Inflation on Aug 16, 2023: 3.2 percent

Stollen-Hatchıll|̲̅̅●̲̅̅|̲̅̅=̲̅̅|̲̅̅●̲̅̅|llıl wrote:
CD rates 4%
Savings 3%

today
CD rates 5-5.5%
Savings 4-5%

Sidefi is due for a refinance.

Yada wrote:
Sidefi is due for a refinance.

nah…there is no way in my lifetime I'm gonna beat 2.5% on a fixed 30

Stollen-Hatchıll|̲̅̅●̲̅̅|̲̅̅=̲̅̅|̲̅̅●̲̅̅|llıl wrote:

Yada wrote:
Sidefi is due for a refinance.

nah…there is no way in my lifetime I'm gonna beat 2.5% on a fixed 30

Whew. Did you have to pay points to get it to 2.5%? I remain ecstatically happy with my 2.875% without any sort of buy-down but sounds like you hit at the absolute perfect time.

I don’t find the inflation data very relevant in my life.

As my partner said a trip to whole foods we used to spend $100 and it’s up to $140


Skirt steak at BJs was $8.99 a pound now $13.99


Going out with fam for a meal at typical restaurant now $100 including tip…was definitely more like in $60s

Trapiche Malbec up from $6.99 to $7.99 (still best value in world)

6 pack modelo $10 at Walgreens

Spanakopita tray at Wholepaycheck just went up from $4.99 to $6.79


Not to mention beach rentals during summer

I need some front suspension work on Prius: $4000

16 oz bottles of coke up to like $2.69

^^is that you Space^^

Hutch wrote:
Trapiche Malbec up from $6.99 to $7.99 (still best value in world)

Malbec. Gross.

Pussy

Btw on an unrelated matter I got a printout of expenditures at BJs in past 14 months.


102 bottles of Argentine Malbec split about evenly between Alamos and Trapiche

I wasn’t too surprised

[quote author=Julian, Forum COGNOSCENTI link=topic=25761.msg552067#msg552067 date=1692205388
Whew. Did you have to pay points to get it to 2.5%
no points

The funny thing is something happened 6 months before that and we got the Heisman from the loan company
so once that was straightened out, we submitted our application/lock on pretty much the best day

Hutch wrote:
I don’t find the inflation data very relevant in my life.

you are not wrong…kinda meaningless (especially without historical data, back of the envelope suggests 25% cumulative inflation in the last bunch of years)
but it does look good and like something got done
just windowdressing and I'm a purevor

Hutch wrote:
Btw on an unrelated matter I got a printout of expenditures at BJs in past 14 months.


102 bottles of Argentine Malbec split about evenly between Alamos and Trapiche

I wasn’t too surprised

Are you buying wine for the whole block?