70's coming back ?.....

[Delawaredave5]

Scanning old pics - noticed this billboard on San Diego border from late 70's.

52% interest ! Obviously high because of period and Mexico.

But, are we going back there ?

 

[pacergal]

I thought this was going to be about polyester jumpsuits.......

 

[bloom2708]

Long sideburns, gas lines, high inflation and 12% CDs.

I'd take sideburns and 12% CDs.

 

[Aerides]

pant legs are getting wider

 

[Mr._Graybeard]

Long sideburns, gas lines, high inflation and 12% CDs.

I'd take sideburns and 12% CDs.

I'm growing my sideburns long to compensate for the wisps up top.

 

[ExFlyBoy5]

And smoking. What isn't to love? And if you can earn 15% on a CD....then there are a lot of things going on that are not good.

 

[Fermion]

I am going to buy me a few $100,000 beachfront houses if interest rates go to 17%

 

[MichaelB]

I thought this was going to be about polyester jumpsuits.......

People in their 20’s and 30’s back then would be in their 70’s now. If those same people decide to wear polyester jumpsuits again I’m isolating at home for another year.

 

[Marita40]

I noted with dismay that so-called "prairie dresses" were back in style--ugh. Not sure if that was the late 70s or early 80s. This time around, I will pass.

 

[Amethyst]

You're right on both counts. Late 70's/early 80's. Gunny Sax and Jessica McClintock. Unflattering as heck. Then there were the awful Laura Ashley long shapeless dresses in the mid-80's.

Fortunately there were some very nice designs coming out at that time, as well!

I noted with dismay that so-called "prairie dresses" were back in style--ugh. Not sure if that was the late 70s or early 80s. This time around, I will pass.

 

[Amethyst]

OTOH maybe pop music will improve!

 

[jim584672]

I'll take some long dated Treasuries @ 16% please.

 

[Beldar]

The Corvette...

 

[ncbill]

I noted with dismay that so-called "prairie dresses" were back in style--ugh. Not sure if that was the late 70s or early 80s. This time around, I will pass.

IIRC, lots of dresses with empire waistlines as well..."Ladies, make 'em guess if you're pregnant..."

And remember polyester Sansabelt pants?

Dad loved those.

 

[Dtail]

Perhaps the 52% interest is in pesos. No rate is high enough for me to invest non FDIC protected funds in a Mexican Bank in Mexico.

 

[ownyourfuture]

The Corvette...

OMG
I bet he lived to regret that gig!

 

[Bamaman]

And to think I was happy to only have an 8.5% mortgage on a. 1700 square foot all brick house for $42,441. Stayed in it 12 years.

When car dealerships started going broke due to ultra high interest rates, I was the one that the car company sent out to handle the liquidation. Jimmy Carter's VooDoo economics weren't very enjoyable days.

 

[dmpi]

The savings and loan scandal taught me that when a bank issue exceptional CD rates it'll be shut down in a week.

 

[stepford]

Jimmy Carter's VooDoo economics weren't very enjoyable days.

I thought Voodoo economics meant something quite different from Carter's (really Volcker's) high interest rate policies.

https://www.investopedia.com/terms/v/voodooeconomics.asp

 

[MichaelB]

Just to be clear, Jimmy Carter had nothing to do with the interest rates shown in the OP. Is no thread discussion safe from political sniping? This is more infectious than covid.

The rates shown in the OP were in Mexico, starting in 1982, and lasted about a decade, ending with the first peso crisis. Other Latin American countries had higher inflation and interest rates. Along with Mexico, Brazil and Argentina also had hyperinflation, debt crises, and serious economic recessions.

 

[nap470]

I would not wish for my daughter's generation to have to live through 8.5% mortgage rates like I did on our first house. But that said, I would love to lock in some 8.5% or higher CDs and MMAs for the next 25 years and avoid the market churn. I know I do not want to see or wear the 70s clothing look again!

 

[Amethyst]

Pfaugh. What about the 13% I was charged in 1985?

I would not wish for my daughter's generation to have to live through 8.5% mortgage rates like I did on our first house.

 

[Walt34]

Pfaugh. What about the 13% I was charged in 1985?

The first house I bought with the ex in 1979 had an interest rate of 11.875% and not long after we thought that was a deal because they topped out in some places at 17.5%.

 

[jazz4cash]

We are really spoiled by fixed rate 30 year mortgages. We were all able to refi out of those high rates but the bank is stuck with the current low rates for more than a generation! I feel so bad for them (NOT). I think most other homeowners in most other countries have get a rate reset every 5 yrs or so.

 

[Time2]

People in their 20’s and 30’s back then would be in their 70’s now. If those same people decide to wear polyester jumpsuits again I’m isolating at home for another year.

I was about to argue with you about your numbers but then I figured it out. I'm 66 yrs old, that pretty close 70!