1.2% is a pretty spectacular interest rate for Europe, and will be for the US for the forseeable future it seems. And, obviously, it’s a lot better than a 30% capital loss.
American Express online bank pays about 1.6 now I think. And they paid as high as 2% over the last few years. Ally bank is about 1.5. And I think AAA bank is also pretty good. I use Amex and ally but not (yet) aaa.
Yeah, but after the rate cuts they won’t.
Maybe not. They’ve been paying me nearly 2 for about 6 years.
Edit: they’re advertising 1.7% right now.
It’s less than 24 hours after the big cut. These things don’t flow through immediately, but within a month, maybe a week, I’d be extremely surprised if wasn’t cut. You can’t run a savings account on that sort of negative NIM.
Of course. I’m saying they’ve been consistently an order of magnitude above regular savings accounts, and they outperform cds. I’m not saying their rates won’t go down, I’m suggesting them and other (fdic insured) online banks as alternatives to get the best rates.
Menzo
1595
Oil prices continue their unprecedented drop. Russia is going to get hurt badly so who knows what they’re going to do.
Canada too. Those Alberta sands are totally unviable now.
Not to mention US shale producers, though my impression is a lot of the oil guys got wiped out in the last price drop and there was a shift to gas.
ShivaX
1597
Trump is going to give them money though.
Here they’re saying this was the worst day for the DOW Jones since 1987, which was the worst day ever.
They note that the stock markets took a particular nosedive during Trump’s press conference.
ShivaX
1600
Someone was breaking down specific moments someplace and it was like every time Trump spoke you’d drop 1% or more.
Like this but evil instead?
And again this morning, when asked about possibly lifting the trade war tariffs, Trump repeated the nonsense about China “paying billions to our Treasury” so why would we do that?
#smh
RichVR
1605
And Pence behind him nodding like the bobblehead he is.
It’ll sure be nice to have a non-moron as POTUS, eventually (maybe in less than a year, fingers crossed).
Timex
1607
This is why having a president who isn’t an idiot would be nice.
RichVR
1608
If the bar was any lower it would be underground.
