I;m already on to unc. But I know deep down he doesn't mean it. Unc needs to cut loose with some positive vibes and stop being a meanie to everyone. He's a grouch.
keeb all due respect but I don't appreciate being told what I can post. nor where I can post it. by anyone. really. there is not such a high level of financial discussion going on here that anyone should feel entitled or compelled to serve as the de facto board police. aka potty patrol.
Gillie, I have been very frustrated with this particular Wells Fargo branch in a very nice quaint neighborhood which is an excellent location. They are not taking advantage of it. The people are all lazy and rude except for one nice teller. It is as if they are missing a chip. I've never seen anything like this, where these "bankers" seem to have no clue of what in the world they are in that branch to do. Passing out toll free numbers is the only thing that comes to their mind. I do hope soon that some other bank comes along and acquires that location as it is being run into the ground with what's going on there now. When it was Wachovia it was a good branch, when it was the predecessor to Wachovia it was ever better. Something has gone very wrong with this picture.
Good question, Gillie. One of my close by branches seems to do nothing but hand out toll free numbers so it becomes a do it yourself problem solving exercise.. As long as I can get cash somewhere, I can look up those numbers on the internet myself. So the branches might be on the way out. These branch people have done it to themselves if they don't make themselves indispensable.
we still hear all of the jawboning for higher rates coming from various sources, including JPM who wants to charge some depositors now for the privilege. Charging for deposit taking is a dangerous deflation signal like negative interest rates. Fed raising rates is going to have some implications on this but I'm not sure the banking sector wants those implications. Nor the rest of the public. Looks like the economy is either in a sweet spot or between a rock and a hard place with the rate situation. Raising rates could have serious implications, now.
while my reply sounds flip, it is not meant to poo poo the human suffering of innocent people, and there are always some. However the ill conceived euro was bent and determined to become a fight between the weakest and the strongest and that's exactly what has happened. If the euro collapses if Greece pulls out, or not, there is then always going to be the next weakest link to cause a problem. The whole thing was a bad idea.
all of that being said, the bottom line for us is how this affects the dollar. I can't muster a lot of sympathy for either squabbling side in all of this, as the euro had some conceptual problems from the get go and it was designed to encroach on the dollar, wasn;t it? and perhaps to become a sort of reserve currency itself, as much to "facilitate trade?"
So how does all of this affect US interest rates, the dollar, and us?
If this Euro breakdown/daily threat of a breakdown is good for the US by fostering more interest in the dollar as the worlds reserve currency, then its all good.
Let them eat cake.
Gillie, as some people see things, the FED is in a bit of a pickle. Over across the pond other central banks are having to reduce rates into the negative numbers to keep things going. If the FED begins raising rates in the future, this is going to cut across the grain and have big implications for the dollar, which may not be what anyone wants. It will be a double whammy to the US economy. FED's either between a rock and a hard place, or the economy has found a sweet spot. I prefer to think the latter. I think its going to be difficult for FED to tighten anytime soon given the actions of other central banks.