U.S. Fed cuts the rate by .25 points - not good - GoFuckYourself.com

UniversalPassLorence · 12-11-2007, 12:17 PM

I think by cutting rates, it just prolongs the problem and eventually it will catch up 10 folds. By cutting rates, people/companies just borrow more money and spent more and get into a deeper hole, and inflation could increase. Borrowing has to slow down in my view to correct the problem.

What do you think?

tony286 · 12-11-2007, 12:18 PM

I want to know why they keep dropping the rates but my credit card rate is still the same.

Penny24Seven · 12-11-2007, 12:19 PM

Yeah it will do that to some people and others it will help, just have to hope it helps more then it hurts

UniversalPassLorence · 12-11-2007, 12:20 PM

Quote:

Originally Posted by tony404

I want to know why they keep dropping the rates but my credit card rate is still the same.

Call your credit card company. If you have made on time payments and you have a decent credit score, they will reduce it for sure. I have few credit cards I pay 7-9%.

tony286 · 12-11-2007, 12:22 PM

Quote:

Originally Posted by UniversalPassLorence

Call your credit card company. If you have made on time payments and you have a decent credit score, they will reduce it for sure. I have few credit cards I pay 7-9%.

I will try,thanks.

FreeHugeMovies · 12-11-2007, 12:22 PM

This will help ppl start buying new houses which is excellent for the economy.

UniversalPassLorence · 12-11-2007, 12:23 PM

Quote:

Originally Posted by FreeHugeMovies

This will help ppl start buying new houses which is excellent for the economy.

This rate cut will not necessarily reduce the mortgage rates

UniversalPassLorence · 12-11-2007, 12:35 PM

The market was waiting for .5 point cut and dow is down 174 points now. I don't like this cut.

WebairGerard · 12-11-2007, 12:37 PM

more people really need to start living within their means and not worry about keeping up with joneses. don't borrow what you can't pay back.

brand0n · 12-11-2007, 12:41 PM

band aid on a major artery is what this is

TampaToker · 12-11-2007, 12:43 PM

Quote:

Originally Posted by WebairGerard

more people really need to start living within their means and not worry about keeping up with joneses. don't borrow what you can't pay back.

You nailed it right on the head and saved me from posting it

UniversalPassLorence · 12-11-2007, 12:43 PM

Quote:

Originally Posted by WebairGerard

more people really need to start living within their means and not worry about keeping up with joneses. don't borrow what you can't pay back.

So true. Everyone now wants a brand new car, Largest possible TV, best vactions ..... They are living above their means by borrowing

reaching_into_the_muck · 12-11-2007, 12:44 PM

You think "they" give a fuck? The elite are just propping up the economy long enough to bomb a few more "evil doers"" . As long as the Big Macs are hot and video games are available the public does not care about ANYTHING.

All you have to do is recognize stupidity and bet against it and you will be sitting on lots of cash when the morons will be starving in the streets.

pocketkangaroo · 12-11-2007, 12:48 PM

Quote:

Originally Posted by tony404

I want to know why they keep dropping the rates but my credit card rate is still the same.

Because the banks and hedge fund managers want it. Our country wants to ensure they have money and doesn't give two fucks about what it does to inflation.

pussyserver - BANNED FOR LIFE · 12-11-2007, 12:48 PM

Quote:

Originally Posted by UniversalPassLorence

I think by cutting rates, it just prolongs the problem and eventually it will catch up 10 folds. By cutting rates, people/companies just borrow more money and spent more and get into a deeper hole, and inflation could increase. Borrowing has to slow down in my view to correct the problem.

What do you think?

I completely 100% totaly agree and have been saying this for some time now

Snake Doctor · 12-11-2007, 12:49 PM

Quote:

Originally Posted by UniversalPassLorence

I think by cutting rates, it just prolongs the problem and eventually it will catch up 10 folds. By cutting rates, people/companies just borrow more money and spent more and get into a deeper hole, and inflation could increase. Borrowing has to slow down in my view to correct the problem.

What do you think?

I think that Ben Bernanke knows alot more about this than you do.

pussyserver - BANNED FOR LIFE · 12-11-2007, 12:50 PM

Quote:

Originally Posted by tony404

I want to know why they keep dropping the rates but my credit card rate is still the same.

cuts are never across the board it just depends on the specific rate / debt type they are targeting

ADL Colin · 12-11-2007, 12:50 PM

UniversalPassLorence · 12-11-2007, 12:53 PM

Quote:

Originally Posted by Snake Doctor

I think that Ben Bernanke knows alot more about this than you do.

Dude, they are not sure. They are acting under pressure. Greenspan which I admire recently said, we should have stopped the subprime loans during his watch and should have not reduced the rate that low

Borrowing and prinitng money and increasing the deficit is not the answer. It is a short term answer.

Matt 26z · 12-11-2007, 01:01 PM

I think the goal is to prop the economy up until Bush leaves office so that the next president is the one who gets the black eye.

JP-pornshooter · 12-11-2007, 01:04 PM

they are trying to keep things from going into a recession near future.. they have to save the housing market, this is one way to ease the pain. secondly cheap money is needed for business to grow... not so much your mom and pop type scenario, big business need cheap cash for start up and keep wheels rolling.

pornguy · 12-11-2007, 01:07 PM

Quote:

Originally Posted by UniversalPassLorence

So true. Everyone now wants a brand new car, Largest possible TV, best vactions ..... They are living above their means by borrowing

Any idea why??

Turn on the Idiot Tube and you are bombarded by ad's telling you that you NEED X tv, or you NEED X shampoo. Does not matter that it is the same as all the rest, and no better than the one you already have.

UniversalPassLorence · 12-11-2007, 01:08 PM

Quote:

Originally Posted by JP-pornshooter

they are trying to keep things from going into a recession near future.. they have to save the housing market, this is one way to ease the pain. secondly cheap money is needed for business to grow... not so much your mom and pop type scenario, big business need cheap cash for start up and keep wheels rolling.

This will not help recession and it will not save the housing market. People are borrowing more than ever and this will increase the trend. You have a point regarding big business spending. But it will not help recession I believe.

xmas13 · 12-11-2007, 01:08 PM

I have a dream...

T - Bone · 12-11-2007, 01:08 PM

Quote:

Originally Posted by UniversalPassLorence

Dude, they are not sure. They are acting under pressure. Greenspan which I admire recently said, we should have stopped the subprime loans during his watch and should have not reduced the rate that low

Borrowing and prinitng money and increasing the deficit is not the answer. It is a short term answer.

I agree... This is extremely disappointing. Band-aid after band-aid... when is the final shoe going to fall?

kane · 12-11-2007, 01:09 PM

I kind of see this is as part of what is becoming the standard of the Bush administration. He has overseen a lot of things that haven't gone well and now he is just trying to tread water and push everything off until he gets out of office so the next person can deal with it.

The economy has never been all that strong under him and when rates were low and people either bought houses that they couldn't afford or just bought a house when they shouldn't have it helped to artificially prop up the economy. Now those mortgage rates are changing people may lose their homes. There is bound to be a recession of some sorts, but it looks like Bush is doing all he can to put it off. He is trying to bail out sub prime mortgage holders, now another cut in the overall rate will help a little longer. Eventually we are going to have to pay the piper.

L-Pink · 12-11-2007, 01:14 PM

Quote:

Originally Posted by reaching_into_the_muck

All you have to do is recognize stupidity and bet against it and you will be sitting on lots of cash when the morons will be starving in the streets.

Please share some financial tips. (buy low-sell high doesn't count)

.

UniversalPassLorence · 12-11-2007, 01:17 PM

So right. By borrowing more people spend more and the economic numbers naturally look better. Bush will pass this nightmare to the next president, not to mention the amount of spending going towards the IRAQ war.

He, also, initially cut tax rates and gave people fictious money to spend to increase the economic numbers. To really destroy the economy, he should do it again, but at this point he wont. I don't think he has any clue

kane · 12-11-2007, 01:19 PM

Quote:

Originally Posted by WebairGerard

more people really need to start living within their means and not worry about keeping up with joneses. don't borrow what you can't pay back.

That is the number one thing people can do. We are a consumer driven economy and it seems like most people have no problem running up massive amounts of debt and they do it without worry. I watched a show the other day about credit cards. The average US citizen has around $8900 in credit card debt that runs about 15% interest. It also said that 43% of people spend more than they make each year. That amazes me. What shocked me most about it was that people get into collage (or if they don't go to collage right after high school) and they get a ton of credit cards. It used to be that someone without credit had trouble getting a credit card, now they are lining up to give them to you and it's not a problem. The show said it is not unheard of for people in their early 20's to have over 25K in credit card debt before they ever really have a real job.

But one thing is for sure. We have turned into a culture where we don't take responsibility for our own actions. Say something offensive and you can go to rehab and make it all better. Buy too much stuff and you can declare bankruptcy and often keep most of the stuff. Get caught doing something illegal and you can blame everyone but yourself. So it's no surprise that many of us don't have any control over our finances and it is worse yet that our economy is dependent on those people.

ADL Eddie · 12-11-2007, 01:19 PM

Quote:

Originally Posted by L-Pink

Please share some financial tips. (buy low-sell high doesn't count)

.

The ADL Eddie Road to Riches

I just think of whatever I think is going to happen and then bet the exact opposite way.

You can fool some of the people some of the time but you can fool yourself every day.

thehand · 12-11-2007, 01:24 PM

http://zeitgeistmovie.com/ Pres play & skip to 1.11:11

V_RocKs · 12-11-2007, 01:32 PM

Spend, spend, spend!

Snake Doctor · 12-11-2007, 01:45 PM

Quote:

Originally Posted by UniversalPassLorence

Dude, they are not sure. They are acting under pressure. Greenspan which I admire recently said, we should have stopped the subprime loans during his watch and should have not reduced the rate that low

Borrowing and prinitng money and increasing the deficit is not the answer. It is a short term answer.

Bernanke is under no pressure. The fed is independent and no matter what he does there's going to be someone who disagrees with his decision.

Nothing the fed does has anything to do with our deficit. You are very confused about this issue and should probably just quit discussing it until you learn more.

Big Red Machine · 12-11-2007, 01:57 PM

I think keeping the rates low gives alittle breathing room to correct the situation. The banks definitely aren't going to be giving out NINJA mortgages anymore. The big problem I think is even if Bush froze the rates on the subprimes...the value of those houses are still 100k less than when they bought them. I spoke to a foreclosure specialist....he said theres going to be alot of "fires" next year. People will think their only way out will be insurance $

12-11-2007, 12:17 PM	#1
UniversalPassLorence Confirmed User Join Date: Dec 2004 Location: Califonia Posts: 3,721	U.S. Fed cuts the rate by .25 points - not good I think by cutting rates, it just prolongs the problem and eventually it will catch up 10 folds. By cutting rates, people/companies just borrow more money and spent more and get into a deeper hole, and inflation could increase. Borrowing has to slow down in my view to correct the problem. What do you think? __________________ $25.00 PPS for $1.00 Trial Making Webmasters Money Since 1997 ICQ: 305090349

12-11-2007, 12:19 PM	#3
Penny24Seven So Fucking What Industry Role: Join Date: Jun 2007 Location: USA Posts: 6,287	Yeah it will do that to some people and others it will help, just have to hope it helps more then it hurts __________________ Our site is coming soon. It will be one of the best ever! I know so. Brian and Penny

12-11-2007, 12:35 PM	#8
UniversalPassLorence Confirmed User Join Date: Dec 2004 Location: Califonia Posts: 3,721	The market was waiting for .5 point cut and dow is down 174 points now. I don't like this cut. __________________ $25.00 PPS for $1.00 Trial Making Webmasters Money Since 1997 ICQ: 305090349

12-11-2007, 12:37 PM	#9
WebairGerard Confirmed User Industry Role: Join Date: Sep 2005 Posts: 8,113	more people really need to start living within their means and not worry about keeping up with joneses. don't borrow what you can't pay back. __________________

12-11-2007, 12:41 PM	#10
brand0n been very busy Join Date: Nov 2002 Location: the queen city Posts: 26,983	band aid on a major artery is what this is __________________ want to buy this spot for cheap? it is of course for sale. long term deals are always the best bet. brand0n/ at/ a o l dot commies.

12-11-2007, 12:18 PM	#2
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	I want to know why they keep dropping the rates but my credit card rate is still the same.

12-11-2007, 12:22 PM	#6
FreeHugeMovies Too lazy to set a custom title Join Date: Dec 2001 Location: Charlotte, NC Posts: 14,137	This will help ppl start buying new houses which is excellent for the economy.

12-11-2007, 12:44 PM	#13
reaching_into_the_muck Registered User Join Date: Nov 2007 Posts: 89	You think "they" give a fuck? The elite are just propping up the economy long enough to bomb a few more "evil doers"" . As long as the Big Macs are hot and video games are available the public does not care about ANYTHING. All you have to do is recognize stupidity and bet against it and you will be sitting on lots of cash when the morons will be starving in the streets.

12-11-2007, 12:50 PM	#18
ADL Colin Too lazy to set a custom title Join Date: Feb 2001 Location: Tube Titans, USA Posts: 11,929	__________________ Adult Date Link - $50 PPS starting NOW! -- good and JUICY! skype = "adultdatelink"

12-11-2007, 01:01 PM	#20
Matt 26z So Fucking Banned Industry Role: Join Date: Apr 2002 Location: ¤ª"˜¨๑۩۞۩๑¨˜"ª¤ Posts: 18,481	I think the goal is to prop the economy up until Bush leaves office so that the next president is the one who gets the black eye.

12-11-2007, 01:04 PM	#21
JP-pornshooter Confirmed User Join Date: Sep 2006 Location: westcoast usa Posts: 4,007	they are trying to keep things from going into a recession near future.. they have to save the housing market, this is one way to ease the pain. secondly cheap money is needed for business to grow... not so much your mom and pop type scenario, big business need cheap cash for start up and keep wheels rolling.

12-11-2007, 01:08 PM	#24
xmas13 Confirmed User Join Date: Dec 2004 Location: GFY Posts: 5,176	I have a dream... __________________ ICQ 557504926

12-11-2007, 01:09 PM	#26
kane Too lazy to set a custom title Join Date: Aug 2001 Location: portland, OR Posts: 20,684	I kind of see this is as part of what is becoming the standard of the Bush administration. He has overseen a lot of things that haven't gone well and now he is just trying to tread water and push everything off until he gets out of office so the next person can deal with it. The economy has never been all that strong under him and when rates were low and people either bought houses that they couldn't afford or just bought a house when they shouldn't have it helped to artificially prop up the economy. Now those mortgage rates are changing people may lose their homes. There is bound to be a recession of some sorts, but it looks like Bush is doing all he can to put it off. He is trying to bail out sub prime mortgage holders, now another cut in the overall rate will help a little longer. Eventually we are going to have to pay the piper.

12-11-2007, 01:17 PM	#28
UniversalPassLorence Confirmed User Join Date: Dec 2004 Location: Califonia Posts: 3,721	So right. By borrowing more people spend more and the economic numbers naturally look better. Bush will pass this nightmare to the next president, not to mention the amount of spending going towards the IRAQ war. He, also, initially cut tax rates and gave people fictious money to spend to increase the economic numbers. To really destroy the economy, he should do it again, but at this point he wont. I don't think he has any clue __________________ $25.00 PPS for $1.00 Trial Making Webmasters Money Since 1997 ICQ: 305090349

12-11-2007, 01:24 PM	#31
thehand 235 Pound Gorilla Industry Role: Join Date: Apr 2003 Location: Valhalla Posts: 3,467	http://zeitgeistmovie.com/ Pres play & skip to 1.11:11 __________________ Tim Siner Who the Fu#k is TimSiner? Last edited by thehand; 12-11-2007 at 01:25 PM..

12-11-2007, 01:32 PM	#32
V_RocKs Damn Right I Kiss Ass! Industry Role: Join Date: Dec 2003 Location: Cowtown, USA Posts: 32,409	Spend, spend, spend!

12-11-2007, 01:57 PM	#34
Big Red Machine Confirmed User Join Date: Jan 2005 Location: XXXBigRed@Twitter Posts: 9,586	I think keeping the rates low gives alittle breathing room to correct the situation. The banks definitely aren't going to be giving out NINJA mortgages anymore. The big problem I think is even if Bush froze the rates on the subprimes...the value of those houses are still 100k less than when they bought them. I spoke to a foreclosure specialist....he said theres going to be alot of "fires" next year. People will think their only way out will be insurance $ __________________ ICQ:475437214