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And at the time of the writing, oil was $31 a barrel.
Man, are those with ARMs gonna take it in the nose!!!!
As a financial planner, I always wondered when I would see the 3,000+ square foot acre plus house with the new Lexus in the driveway, what portion of either was actually owned by the resident. Rarely saw anyone inquire about investment driving a Lexus or other high end trendy car. The folks I had in my office with the real money generally lived modestly and drove Ford LTDs, generally in grey, black or (occasionally) white. They invested in General Electric and the like. Taught me at least as much as I taught them, probably more.
Life is funny. I just hope too many folks aren't hurt when the adjustments are made.
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Bob S. former owner of a 1984 silver 944
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