23% Interest

[saltwaterbucks]

Last time the nation was in this position was 1977. Jimmy Carter was President and the Democrats controlled Congress. There was 60 Demo Senators and they weaved their magic till interest was 23% on a standard loan.


Heavenly Father, thank you so much for Ronald Reagan, AMEN.

www.charleyjenkins.com

[reelreturn]

Get ready for many social programs that the working people will have to pay for through higher taxes.

[Nauti Natured]

Holding my breath for the next four.

[JohanM]

I hope the next 4 years will make things better for you over there. Because of the crises in the US we in Norway also have to pay more interests on our loans, I'm just glad I don't own a house now... but we are only up in ca 8 % now, but in the 80's we had ca 20%....

The financial crise have had affect on the boat industry here in Norway, many people have lost their jobs... so lets all hope that it will change within a few years...

[WAHOONBOX]

I hope the next 4 years will make things better for you over there. Because of the crises in the US we in Norway also have to pay more interests on our loans, I'm just glad I don't own a house now... but we are only up in ca 8 % now, but in the 80's we had ca 20%....

The financial crise have had affect on the boat industry here in Norway, many people have lost their jobs... so lets all hope that it will change within a few years...

WELCOME TO SFC AND WELCOME TO MY WORLD DUDE! NOW PLEASE BRING US YOUR WORLD....BRING US SOME PICS OF NORWAY .....ANYTHING OF YOUR COUNTRY! WE DON'T CARE WHAT THE TOPIC

NICE TO HAVE YOU ON BOARD!

[Glenn W]

Last time the nation was in this position was 1977. Jimmy Carter was President and the Democrats controlled Congress. There was 60 Demo Senators and they weaved their magic till interest was 23% on a standard loan.


Heavenly Father, thank you so much for Ronald Reagan, AMEN.

www.charleyjenkins.com

At the risk of having this thread better placed in the Mix it Up forum, your memory is not very good Shannon--- or at the very least, very selective.
The following is a link to historical interest rates, and what Jimmy Carter did and did not have to do with these rates. As can clearly be seen and may be recalled, inflation and interest rates began their climb into the srtatosphere under the Ford Administration in 1974. When Carter took office in 1977, interests rates fell subtantially, but admittedly went through the roof again towards the end of his administration. Interest rates remained in the double digits throughout Reagan's first term, yet remain at historically high levels through the entire tenure of Reagan ( both terms). It was not untill Bill Clinton took over, that interest rates came down to reasonable levels. During the Reagan era, the Senate was controlled by the Republicans, while the House had a democratic majority most of the time. The long and short of it is, interest rates have never been correlated with a political party and certainly no party can take credit for reducing interest rates nor accept responsibility for increased rates.
Now, perhaps we can pontificate as to the correlation between increases in the National debt under various presidents, and the lagged relationship on our economic activity and growth

http://mortgage-x.com/general/indexes/prime.asp

[JohanM]

there are som pics from my country on my thread, its called "Hello, I'm new to this site" ore something like that, in the mix it up forum... I also made a thread called "freshwater fishing in Norway" in the freshwater forum. there are some pics now, but there will come more in a while just have to take some first

[saltwaterbucks]

Thanks for confirming what I thought I remembered, that the last time this political environment was in the good ole USA, my life was miserable. The time between 1977 and 1980, interest rates rose to unparallelled levels and this poor boy couldn't buy nothing.

I have thrived under Democratic presidents and Republican presidents but not when a party controlled the presidency, congress and have a veto proof 60%. That is not good for the Greatest Country on God's Green Earth.

[WAHOONBOX]

At the risk of having this thread better placed in the Mix it Up forum, your memory is not very good Shannon--- or at the very least, very selective.
The following is a link to historical interest rates, and what Jimmy Carter did and did not have to do with these rates. As can clearly be seen and may be recalled, inflation and interest rates began their climb into the srtatosphere under the Ford Administration in 1974. When Carter took office in 1977, interests rates fell subtantially, but admittedly went through the roof again towards the end of his administration. Interest rates remained in the double digits throughout Reagan's first term, yet remain at historically high levels through the entire tenure of Reagan ( both terms). It was not untill Bill Clinton took over, that interest rates came down to reasonable levels. During the Reagan era, the Senate was controlled by the Republicans, while the House had a democratic majority most of the time. The long and short of it is, interest rates have never been correlated with a political party and certainly no party can take credit for reducing interest rates nor accept responsibility for increased rates.
Now, perhaps we can pontificate as to the correlation between increases in the National debt under various presidents, and the lagged relationship on our economic activity and growth

http://mortgage-x.com/general/indexes/prime.asp

LET'S TRY TO KEEP THIS THREAD A MILD PG RATING SO THE YOUNGER GENERATION CAN READ.....