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Discussion Starter · #1 ·
When I looked at the money market rate on some of my retirement investments at 1.98% I think of the childhood fable of the Grasshopper and the Ant. While my wife and I (the Ants) were busting our humps to store corn (money) for the winter (retirement) for all those years the Grasshoppers (sub prime borrowers, credit card addicts, etc) sang and danced through the good times (borrowed every penny they could from home equity, credit cards, etc. to party and splurge) without a care. Come vacation with us, get rid of that old boat and buy new, let's drink and party said our Grasshopper friends while we stuck to our guns as good Ants that we could have any toy that we wanted as long as we had the corn to pay cash up front.

With the Federal Reserve giving money away to the banks to keep the cheap credit flowing I guess I'm lucky to get 1.98% from the banks on Money Market accounts. I'm all for following the example in the fable and let the damn Grasshoppers starve when the snow comes and leave my damn corn alone and let it grow. For some reason Grasshoppers just aren't smart enough to know that winter (layoffs, illness, mortgage problems, accidents)
will come. In nature they get what they deserve, they starve to death.

http://www.dltk-teach.com/fables/grasshopper/mstory.htm
 

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You BLOT that schit!
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I'm getting 3.15% on a business savings and 3 even for my personal at ING Direct.
Down from 4.50% in October.

:(
 

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Discussion Starter · #3 ·
PJDiesel said:
I'm getting 3.15% on a business savings and 3 even for my personal at ING Direct.
Down from 4.50% in October.

:(
BB&T just tanked their rate to 1.98% the 1st of June even on very high end Money Market accounts. As long as the Fed is giving out almost free money no one is going to pay investors. Damn Grasshoppers. I'm moving a chunk to lake property while it is down and letting it ride. It doesn't matter how many of these institutions go under, free and clear real estate will still be there and come back when the blood bath is over.
 

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You BLOT that schit!
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Uh hum, either in RE, or under my mattress where I can literally WATCH it lose value with inflation. :rolleyes:
 
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