Funds Availability 04 19 2018
So you deposit money in the bank and it isn't available to you right away. Who is making interest on that money in the meantime and how much?
It puts another step removed in the equation of the consumer ever being able to earn a reasonable rate of return from savings of their money again? Kind to tells you that isn't ever going to happen again?
And how does a bank view its interest rate spread and how does it justify it?
I won't pay the American anything, in terms of interest on their savings with my bank and to add insult to injury if they want to borrow for common life items I am going to charge them 25% interest on their credit cards??? They don't think much of us do they.
Are there countries that have high savings interest rate and low credit card borrowing rates?
*****'
http://www.wisebread.com/10-countries-where-banks-pay-crazy-interest-rates
*****'
Put look at the other dynamic that comes into play. In countries that pay a high interest rate their currency is devaluing so that it doesn't buy as much?
On the other side of the scale at that link above are countries that charge you interest just to keep your money at their bank??? How do they achieve that? Propagandize a high risk of crime rate? It would seem to me to be the antithesis of banking.
One would almost think they would justify paying someone interest to use a credit card in order to spur the economy? The higher my credit card balance the more interest I make on it? A good king could make something far fetched like that happen?
https://www.creditcards.com/credit-card-news/first-premier-79-rate-fees-credit-card-1265.php
But studying interest rates. It really becomes meaningless when a bank charges you 25% and pays you next to nothing? You can't apply economics or academic study to it. Its meaningless.
So what am I getting at? Banks should be regulated so that their salaries must be capped and business expenses capped so that that spread becomes very little. I like that idea. "Mrs. Snoot isn't going to be driving a BMW or Porsche anymore." "Why not?" "Because she didn't earn it."
What am I getting at? It is a financial structure that is going against our democracy and democratic values. It has no place here.
It can't be regulated when those who are profiting from it handsomely are the ones doing the pseudo regulating.
When what you think you know contradicts your working knowledge. In other words you got a job that involves managing money. However you really don't understand how it is earned. So you make it up as you go along.
And perhaps the best thing is to just let you be. And the misery catches up to you eventually. Just like the anger turns inward in the Alzheimer's person; and consumes them to nothing.
Amen.
© 2018 Thomas Murphy
So you deposit money in the bank and it isn't available to you right away. Who is making interest on that money in the meantime and how much?
It puts another step removed in the equation of the consumer ever being able to earn a reasonable rate of return from savings of their money again? Kind to tells you that isn't ever going to happen again?
And how does a bank view its interest rate spread and how does it justify it?
I won't pay the American anything, in terms of interest on their savings with my bank and to add insult to injury if they want to borrow for common life items I am going to charge them 25% interest on their credit cards??? They don't think much of us do they.
Are there countries that have high savings interest rate and low credit card borrowing rates?
*****'
http://www.wisebread.com/10-countries-where-banks-pay-crazy-interest-rates
*****'
Put look at the other dynamic that comes into play. In countries that pay a high interest rate their currency is devaluing so that it doesn't buy as much?
On the other side of the scale at that link above are countries that charge you interest just to keep your money at their bank??? How do they achieve that? Propagandize a high risk of crime rate? It would seem to me to be the antithesis of banking.
One would almost think they would justify paying someone interest to use a credit card in order to spur the economy? The higher my credit card balance the more interest I make on it? A good king could make something far fetched like that happen?
https://www.creditcards.com/credit-card-news/first-premier-79-rate-fees-credit-card-1265.php
But studying interest rates. It really becomes meaningless when a bank charges you 25% and pays you next to nothing? You can't apply economics or academic study to it. Its meaningless.
So what am I getting at? Banks should be regulated so that their salaries must be capped and business expenses capped so that that spread becomes very little. I like that idea. "Mrs. Snoot isn't going to be driving a BMW or Porsche anymore." "Why not?" "Because she didn't earn it."
What am I getting at? It is a financial structure that is going against our democracy and democratic values. It has no place here.
It can't be regulated when those who are profiting from it handsomely are the ones doing the pseudo regulating.
When what you think you know contradicts your working knowledge. In other words you got a job that involves managing money. However you really don't understand how it is earned. So you make it up as you go along.
And perhaps the best thing is to just let you be. And the misery catches up to you eventually. Just like the anger turns inward in the Alzheimer's person; and consumes them to nothing.
Amen.
© 2018 Thomas Murphy
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