November 20th, 2007
Sorry I haven’t been as busy posting of late.? I’ve been working on our format for our Email Newsletter and thankfully been busy helping clients.?
But, the gloves are off.? It is the talking heads of Wall St. vs everyone else.? There is bad news to go around daily and each day it gets worse.? However, the talking heads keep trying to put a spin on it.? They keep saying it can’t get any worse, yet it does.?
These same talking heads said the mortgage problems would be contained.??They kept saying this even as companies failed and the Big Guys began hinting at huge losses.? Wall St. still wants us to believe the housing crisis is over.? But it isn’t.? Many of the ARMs people got into haven’t even repriced, yet.??There are still a very large number that will be affected in 2008, 2009, and 2010.
Foreclosures will continue, prices will continue to?fall and as a result the whole economy will suffer.? Many?also believe the Fed has a rate cut or two left in them.?
It isn’t all doom and gloom, but we have to be honest.? As I know many of you count on the interest from CDs for your income,?take prudent steps to protect your income and reduce expenses.??
- Bike or?walk when you can
- Pile on the layers and keep the heat down
- Turn lights?off when you aren’t in the room
- Eat at home more
If you have others leave them in the comments.
Here is a link if you want to subscribe to our CD Interest Rate Newsletter.
-- By +Chris Duncan