New Tractor Sales Are Declining

[turbo36]

Looks like this has changed in the past quarter. Might be worth checking out. My local credit union is below 4%.

There's another good site to track CD/savings rates.

https://www.depositaccounts.com/

 

[rScotty]

Looks like this has changed in the past quarter. Might be worth checking out. My local credit union is below 4%.

In that case you might want to talk to your banker. My experience is that they offer higher rates that they don't advertise - especially online.
rScotty

 

[Cahaba Valley Farm]

In that case you might want to talk to your banker. My experience is that they offer higher rates that they don't advertise - especially online.
rScotty

Why would they do that?

 

[Torvy]

Why would they do that?

Same reason your tractor dealers do it.

 

[Torvy]

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.

While I'm not a fan of zero reserve, the move to zero reserves is inconsequential to the money supply compared to deficit spending. Deficit spending absolutely increases the money supply.

 

[Cahaba Valley Farm]

Same reason your tractor dealers do it.

I'm not catching your drift.

 

[2manyrocks]

They probably have their best deals for the customers that come in person to ask for them instead of putting it out on the internet for everybody to see.

 

[Hay Dude]

I remember walking into my bank, kind of disgusted with my money market int rate. I let my asst manager know that and he adjusted the rate upwards considerably.
All I had to do is ask.

 

[Cahaba Valley Farm]

That has not been my experience with either banks or tractors.

 

[Hay Dude]

That has not been my experience with either banks or tractors.

You need to have a high level of customer value to them. Not implying you don’t.
It’s like a business relationship where you have been there a while, they take you for granted and stop giving you their best deals. Then you make a little noise. Sensing you may take your business elsewhere, they give you a better rate or deal.