Showing posts with label interest rates. Show all posts
Showing posts with label interest rates. Show all posts

Wednesday, June 16, 2010

Charlie Wilson's debt

The author of this Forbes.com story gets it. Charlie Wilson with his obama supporting votes have increase the debt on our children exponentially.

"Since our overleveraged economy was the cause of the great recession, how can we avoid going into a double-dip recession if leverage is still being added?"

Tuesday, April 27, 2010

Charlie Wislon's inflation is on the way!

Charlies' national debt is now at $12,500,000,000.

Here's a story about the upcoming inflation. Yes, we can thank Congressman Charlie Wilson for this as he's supported every deficit spending bill President Barry has proposed.

Forbes.com story

Tuesday, July 14, 2009

Another example of laws with unintended consequences

Our new credit card "bill of rights" supported by our Congressman Charlie Wilson, has the effect of raising interest rates on consumers. I thought he was going to "fix" this "problem".

Now, less fixed rate cards are being offered because variable rate cards are tied to the prime rate. So, when the prime rate increases, your interest rates on your credit cards will increase.

With the prime rate about as far low as it can go, you know where the interest rates are going to go, UP.

The new law limits creditors' ability to raise interest rates, but it can't control changes in the prime rate -- the index that's the basis for most variable-rate cards. So even after the new law starts to limit rate hikes, variable-rate cards will still change if and when the index they're based on changes.

Quite a "fix"!!