0% Rates Needed for Market Recovery: Strategist

dave_donhoffOctober 18, 2008

http://www.cnbc.com/id/27236152

0% Rates Needed for Market Recovery: Strategist

[Read Thread](http://www.cnbc.com/id/27236152)

<_snip>
U.S., European and Japanese interest rates need to be slashed to practically zero if there's any chance of a market recovery, Roger Nightingale, strategist at Pointon York, told CNBC Friday.

"I'm not talking about 50 basis points  we really have to take rates down to effectively zero," Nightingale said, pointing out that U.S. rates "got down to one percent in the last recession and that wasn't a bad one."

<_>

Global Credit Black-Tar Heroin, anyone?

Dave Donhoff

Leverage Planner

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jane__ny

I'm hoping! I just paid off a 7.5% 30-yr with a variable rate now at 4.2%. I'm hoping that rate only goes down. This whole business makes me nervous but I couldn't ignore the lower rate.
I hope I didn't make a mistake,

Jane

    Bookmark   October 19, 2008 at 1:23AM
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dave_donhoff

Hi Jane,
If you have the constitution to weather the emotional-coaster of the volatile markets... I think that financially you just made an excellent move!

Rates are going to be depressed quite a bit, for quite a while... but that's "ON AVERAGE." In the moment there may be great drama.

Have an awesome weekend!
Dave Donhoff
Leverage Planner

    Bookmark   October 19, 2008 at 2:43PM
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jane__ny

Hey Dave. I've never been a gambling gal, but I couldn't resist. We plan to put the house up for sale in Spring and wanted to refinance to do repairs. That's when I found the interest on variable so low. Decided to pay off the mortage with the line-of-credit we never used. I watch the interest rate each day, at the first sign of trouble, I'll lock it in.

Jane

    Bookmark   October 20, 2008 at 7:40PM
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