[quote=briansd1]I remember someone posting here that refinancing will free up enough cash flow to buy a new BMW.
That’s pretty much what the Fed is trying to do with QE and lower interest rates.
Unfortunately monetary policy dumps money on the banks and at the top of society. It takes a long, long time, if ever, to trickle down to the unemployed who need help the most.[/quote]
That someone should have waited until this month, because this month, BMW, on top of the ridiculous 0.9% financing, and unheard of near invoice price, is also throwing an additional $2500 for taking out the loan ($1500 for M3’s)…. And a $4500 eco-credit for an X5-35diesel or 335diesel….. This is one instance in which it totally makes sense to finance versus pay cash since there is no incentive for cash buyers.
Anyway, Fed + businesses are trying to get people to spend and again over-extend. Same story, same strategy…Just look at GM, which after GMAC imploded and *cough* Ally Bank bought *cough* after bailed out by the Fed, has recently acquired a new bank to, yup, once again, extend credit to less-than-worthy credit buyers….. This country hasn’t learned a damn thing for the past 5 years…other than pure savers get screwed….
Same story, move along.
