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| Economic Stimulus Check (Read 627 times) |
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posted: 5/2/2008 at 9:30 PM |
I enjoy it when we talk about economic policy and worldwide markets. It's fun.
And the government of the USA dishes out cash all the time. Big whoop. Some would say that the distribution of funds is necessary and healthy. |
| "Good-looking people have no spine. Their art never lasts. They get the girls, but we're smarter." - Lester Bangs |
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| view log Smokey |
posted: 5/3/2008 at 12:48 AM
modified: 5/3/2008 at 1:09 AM |
I am going to put it away for a vacation to Okinawa or Guam this fall.
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| view log Smokey |
posted: 5/3/2008 at 1:10 AM |
| Quote from Nev on 5/2/2008 at 8:54 PM: It may not be a recession but ther is a world wide credit shortage because of the subprime lending situation in the US.
Surely your own government dishing out cash would suggest something is not quite as it should be?
Ultimately I dont care either way I just dont like the idea of my mortgage going up by approx £90.00 per month despite base rates going down.
Have a good one
Nev
I'm no economic genius, but how does your mortgage go up if the base interest rate goes down?
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posted: 5/3/2008 at 2:50 AM |
| Unfortunately, we are not getting an economic stimulus check. I would think that those who earn more would spend more to kick in economy. I would certainly buy an extra toy. |
| Those who try, fail! Those who do what it takes to succeed, succeed!! |
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posted: 5/3/2008 at 8:07 AM |
| Quote from Turbo_Mech on 5/3/2008 at 1:10 AM: I'm no economic genius, but how does your mortgage go up if the base interest rate goes down?
The simple fact is around the world there are fears over mortgage default in the US which will as I understand it will also affect banks around the world as they bought into the subprime lending action.
As a result where as a tracker mortgage may have been available at .3% above the base rate it wil now cost you 1.6% above the base rate.
What is worrying for many people is that after years of lenders offering loans of 95% of your property value, now if you are coming out of a fixed rate deal or to the end of a discounted tracker and you do not have 25% equity in your property you may not be able to re-mortgage which means you will be forced to pay the banks standard rate (probably 2% higher than you had been paying).
Weather there is a downward trend in the US or not I can assure you that there is a shed load of concern all over the world - the latest figures on mortgage lending in the uk show a downturn of 68% for the March year on year. That represents one hell of a ot of business that is not happening.
Oh well it all good fun
take care
Nev
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posted: 5/3/2008 at 11:16 AM |
| DW gets 100 I get 100 and we are going to buy our little some toys and clothes and the rest is going to pay bills |
2008 Goals...
-Start and Finish Gate River Run Completed 08MAR08
sub 8:00 completed 05APR 7:50 minute mile
Start and Finish 3 1/2 marathons in three months 04OCT08, 27NOV08, 21DEC08
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posted: 5/4/2008 at 1:09 AM |
Well I have a nosey friend who always asks me how much I pay for stuff, and she likes to try to figure out how much money I make, so she's hot on my trail to find out if I got my check yet, I keep saying no or I haven't checked my account today, etc etc...So I'm trying to decide if I want to tell her that I got one so she's happy she knows I don't make more than 75K or tell her I didn't get one and she thinks I make more than 75k. Being evil isn't easy. So when I buy a new kayak, or get some extra personal training sessions, will she think it's the stimulus check or the regular check??  |
| You can fly, but that cocoon has to go. |
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| view log TRI-HARD |
posted: 5/5/2008 at 1:05 AM |
| With first triathalon fast approaching (32 days), I still need a wetsuit. So..... |
| Gotta TRI |
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