New Tractor Sales Are Declining

[lman]

Yep. That’s why they faded away. 2% interest recently. In the 1970-80s, they were paying 5-10%.

CD's are over 5% now.

 

[Hay Dude]

CD's are over 5% now.

Forgive him. He’s always way behind on what’s going on.

Maybe we can help him catch up on things?

 

[WM75Guy]

Times have changed. I am getting 4% to 5% on Preferred Deposits with Merrill Lynch. Similar to a Money Market account with no time requirement and no penalty for withdrawal. Nice to have liquidity in case a new tractor is needed.

 

[Peter 315]

Forgive him. He’s always way behind on what’s going on.

View attachment 798662



Maybe we can help him catch up on things?

Ya 5% on a minimum deposit of 25k you rich hay farmer...

 

[drumminj]

Printing money is always at the core of inflation. Only Congress can spend money. It doesn't matter how hard the brakes are being pushed if someone is flooring the accelerator.

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.

 

[cathy liebchen]

Not ours. Ours is 100% member owned and managed. If that changed, I'd be going elsewhere and I'm sure that would not make them happy as we have a huge bundle invested with them. In fact, my wife sits on the BOD.

We only use Chase Bank, the most secure in the world

 

[5030]

We only use Chase Bank, the most secure in the world

I'd be very cautious with any commercial bank right now. They all have the same issue, liquidity. Credit Susse used to be the most secure but not anymore. Not just here, it's a worldwide issue.

 

[5030]

CD's are over 5% now.

Still going backwards with the rate of inflation.

 

[jyoutz]

CD's are over 5% now.

Please post a link to a financial institution offering CDs at over 5%.

 

[jyoutz]

Still going backwards with the rate of inflation.

CDs have never kept up during inflationary periods.

 

[Muhammad]

Please post a link to a financial institution offering CDs at over 5%.

Best CD Rates For May 2024 - Up to 5.36% | Bankrate

Find the best CD rates by comparing national and local rates. Bankrate compares thousands of financial institutions to make it easy for you to apply for the best certificate of deposit rate.

www.bankrate.com

There are a bunch over 5% for 12 months.

I've seen 5 year CDs at 4.5%.

 

[TN8Man]

That's not how it works. Banks make money on the difference between the rates. It really does not affect their margins much regardless of the total rate, except that higher rates result in lower loan volume as fewer customers are willing to pay high rates. Effectively, the banks are a passthrough.

The Fed did not create inflation, they just responded too slowly to it. Printing money is always at the core of inflation. Only Congress can spend money. It doesn't matter how hard the brakes are being pushed if someone is flooring the accelerator.

The Federal Reserve (Central Bank) might not have spent tax payer money that caused inflation but they certainly created the environment that allowed the government to insanely spend by intentionally overheating the economy with over a decade of quantitative easing and keeping the prime rate down to nearly zero. These reckless policies created a distorted economy with several market bubbles like the current housing market bubble that is now starting to collapse again just like back in 2008 and the new Banking crisis but this time the Fed has no intent on stopping the ultimate collapse of our economy. This is all by design.

 

[jyoutz]

The Federal Reserve (Central Bank) might not have spent tax payer money that caused inflation but they certainly created the environment that allowed the government to insanely spend by intentionally overheating the economy with over a decade of quantitative easing and keeping the prime rate down to nearly zero. These reckless policies created a distorted economy with several market bubbles like the current housing market bubble that is now starting to collapse again just like back in 2008 and the new Banking crisis but this time the Fed has no intent on stopping the ultimate collapse of our economy. This is all by design.

By design = conspiracy theory

 

[jyoutz]

Best CD Rates For May 2024 - Up to 5.36% | Bankrate

Find the best CD rates by comparing national and local rates. Bankrate compares thousands of financial institutions to make it easy for you to apply for the best certificate of deposit rate.

www.bankrate.com

There are a bunch over 5% for 12 months.

I've seen 5 year CDs at 4.5%.

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

 

[Hay Dude]

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

Yeah, maybe check it out. You can thank us when the money starts rolling in. Not bad for someone who “looks bad”, huh?

 

[Hay Dude]

Ya 5% on a minimum deposit of 25k you rich hay farmer...

I didn’t say I bought one you rich horsey guy

 

[Hay Dude]

CDs have never kept up during inflationary periods.

It’s not going to compare to a taxpayer funded government pension, but yeah 5% is still pretty good.

 

[TN8Man]

By design = conspiracy theory

By design = according to plan and by intention.

If its not by design then the Federal Reserve (Central Bank) has grossly failed the people of America over and over again and the Federal Reserve should be disbanded and banned from operating in the United States. We are a sovereign nation and don't need global entities screwing up our economy as they try and control us.

 

[Tinhack]

Yep 100%

For sure. The Treasury secretary has already started the "Ponzi finance" routines to keep the US out of default.

 

[2manyrocks]

Ive been following the inventory at a local TYM dealer's website. They sold something like one T574, two T474s, and two or three T264s just in the past week.