Msg. 10449 of 10509 (This msg. is a reply to
10436 by
ribit)
Jump:
Ribit > ...I thought the high interest rates were Carters legacy. I seem to remember interest rates at 17% and being told they would never go back down.
In a way, it WAS carters legacy. Carter and high inflation . . . then Reagan jacked up the interest rates to break inflations back.
I found out my parents bought bank IRA CD's at those high rates. Long term ones. Then came the dot.com BUST in 2000 . . . The inept turds drove interest rates down to near zero . . . And Mom was crying the blues because she had to 'roll over' the CD's and could NOT get a decent rate.
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