New Tractor Sales Are Declining

[lman]

Yep. That’s why they faded away. 2% interest recently. In the 1970-80s, they were paying 5-10%.

CD's are over 5% now.

 

[Hay Dude]

CD's are over 5% now.

Forgive him. He’s always way behind on what’s going on.

Maybe we can help him catch up on things?

 

[WM75Guy]

Times have changed. I am getting 4% to 5% on Preferred Deposits with Merrill Lynch. Similar to a Money Market account with no time requirement and no penalty for withdrawal. Nice to have liquidity in case a new tractor is needed.

 

[Peter 315]

Forgive him. He’s always way behind on what’s going on.

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Maybe we can help him catch up on things?

Ya 5% on a minimum deposit of 25k you rich hay farmer...

 

[drumminj]

Printing money is always at the core of inflation. Only Congress can spend money. It doesn't matter how hard the brakes are being pushed if someone is flooring the accelerator.

Maybe this isn't the thread for it (feel free to moderate this message if it's not), but I don't believe this to be true.

With fractional reserve lending, every loan creates new money. And the reserve requirements were reduced (to zero, i believe) during COVID, so it's been really easy to create new money.

Yes, the government can do it too by issuing debt that is bought by the central bank with newly printed dollars (monetizing the debt), but at least some of the issued debt is bought with already existing currency, so doesn't actually increase the amount of "money" out there.

 

[cathy liebchen]

Not ours. Ours is 100% member owned and managed. If that changed, I'd be going elsewhere and I'm sure that would not make them happy as we have a huge bundle invested with them. In fact, my wife sits on the BOD.

We only use Chase Bank, the most secure in the world

 

[5030]

We only use Chase Bank, the most secure in the world

I'd be very cautious with any commercial bank right now. They all have the same issue, liquidity. Credit Susse used to be the most secure but not anymore. Not just here, it's a worldwide issue.

 

[5030]

CD's are over 5% now.

Still going backwards with the rate of inflation.

 

[jyoutz]

CD's are over 5% now.

Please post a link to a financial institution offering CDs at over 5%.

 

[jyoutz]

Still going backwards with the rate of inflation.

CDs have never kept up during inflationary periods.