Calvin, your Dad is ripping off Ben Franklin.(Yes, there was a time when banks paid real interest when you kept money with them.).Happy Father’s Day, especially to my Dad.
I’m a retired banker. There was a time – long time actually – when many bank interest rates were fixed by Uncle Sam. A plain vanilla passbook savings account had a fixed interest rate of 5.50%!Banks make money on the difference – known as the “spread” – between the interest rate they pay on savings accounts and the rate they charge for loans. Typically, that spread is not very great, and all operating costs have to be paid out of it before there’s any profit. That’s the short version.
WOW!! 6%. Today my mother-in-law gets the interest on her life savings from the bank in pocket change every year. And the Obama idiots on TV keep telling us we’re in a recovery. I’d like to put them in the recovery – the recovery room.
“mmf. goomrg” love it. Calvin was like my kid. She would do stuff to be nice but it would be a disaster. Like the time she noticed a scratch in my red car and spray painted it for me. With black spray paint. I was furious but couldn’t get really mad because her heart was in the right place, even if her mind wasn’t..
BE THIS GUY over 8 years ago
Calvin, your Dad is ripping off Ben Franklin.(Yes, there was a time when banks paid real interest when you kept money with them.).Happy Father’s Day, especially to my Dad.
Darsan54 Premium Member over 8 years ago
Six percent on savings ?!?!?!?!? Just when was this originally written ?
BE THIS GUY over 8 years ago
1986 and mortgage rates were 10 to 11%.
Renatus Profuturus Frigeridus Premium Member over 8 years ago
Where is King Herod when you need him?
bigcatbusiness over 8 years ago
Happy Father’s Day to everyone. We may make our dad’s crazy, and sometimes them to us, but that’s just part of the package.
bigcatbusiness over 8 years ago
And what I meant to say was, Happy Father’s Day to every father.
Alexander the Good Enough over 8 years ago
Ah, yes… Today is the day I celebrate the anniversary of my vasectomy!
chovil over 8 years ago
I don’t remember Socrates being much of an economist, or a father. It’s an odd reference.
Prey over 8 years ago
No children, no wife and very happy about it.
YippiKiAyMofo over 8 years ago
I’m 50+ years old. My children are all grown.
I’d gladly sell each and every one of you to our alien/robot overlords for just one of those mornings again.
Calvin’s dad is a fool.
bjharrington77 over 8 years ago
His dad is terrible
NRHAWK Premium Member over 8 years ago
My little bologna loaf turned into a beautiful young woman, scholar and athlete. Man, I still can’t believe I didn’t screw that up.
Chad Cheetah over 8 years ago
Happy Father’s Day everyone!
beentheredonethat over 8 years ago
Happy Fathers Day !! for those without a “Little Bologna Loaf” you don’t know what you are missing….. (or maybe you do)
beentheredonethat over 8 years ago
one of my Loafs is still here. i will enjoy it while i can
kab2rb over 8 years ago
Happy Father’s Day to all dads.
kab2rb over 8 years ago
Happy Father’s Day to all dads.
kab2rb over 8 years ago
Happy Father’s Day to all dads.
Olddog1 over 8 years ago
In the early 80s I had a CD that paid me 14%, and a car loan at 17%. Taken out at different times. Prices in the supermarkets changed every two days.
Liverlips McCracken Premium Member over 8 years ago
I’m a retired banker. There was a time – long time actually – when many bank interest rates were fixed by Uncle Sam. A plain vanilla passbook savings account had a fixed interest rate of 5.50%!Banks make money on the difference – known as the “spread” – between the interest rate they pay on savings accounts and the rate they charge for loans. Typically, that spread is not very great, and all operating costs have to be paid out of it before there’s any profit. That’s the short version.
rickray777 over 8 years ago
Mom: “Oh, he’s definitely ours, Dear. Trust me on this one!”
wherehaveallthetalentedartistsgone over 8 years ago
WOW!! 6%. Today my mother-in-law gets the interest on her life savings from the bank in pocket change every year. And the Obama idiots on TV keep telling us we’re in a recovery. I’d like to put them in the recovery – the recovery room.
JohnFarson19 over 8 years ago
“mmf. goomrg” love it. Calvin was like my kid. She would do stuff to be nice but it would be a disaster. Like the time she noticed a scratch in my red car and spray painted it for me. With black spray paint. I was furious but couldn’t get really mad because her heart was in the right place, even if her mind wasn’t..
Charliegirl Premium Member over 8 years ago
Oooo, harsh words, Dad. lol
neverenoughgold over 8 years ago
I’ll have cheese with that on wheat bread, lightly toasted and with a bit of mayo…
Number Three over 8 years ago
How wonderful it is to be a 21 year old single female!
A very Happy Father’s Day to those who deserve to be fathers.
xxx
King Masden over 8 years ago
Calvin is learning from his dad, how sweet. LOL
dl11898 over 8 years ago
on the 7th frame, 6% interest. whoa, where is this kid stashing his savings to earn a 6 percent rate of return? Is it legal?
Not the Smartest Man On the Planet -- Maybe Close Premium Member over 8 years ago
Wait till Dad uses his own fatherly wisdom when choosing Calvin’s birthday present.
David_J Premium Member over 8 years ago
My dad probably said the same thing… then decided to leave when I was three. Fifty some years ago.
bigcatbusiness over 8 years ago
@washingtoneagleI still have mine, but I don’t have grandads anymore.
Rauderi over 8 years ago
…6% interest. ;__; My generation will never know how awesome that actually is. Then again, 5% on a home loan isn’t so shabby.
tea62 over 8 years ago
Hence, Calvin has no siblings.
-Thatguy2020 over 2 years ago
As they say…