AARP Financial news today is is generally good, with markets around the World generally moving upwards as the USA lowered it base rate to 1%, it lowest ever. AARP members and others who have loans or finances will hopefully see up to 0.5% reduction.
Consumers in Iceland have recently seen interest rates rise to 18% a jump of 6% following the $2 Billion loan form the IMF.
Hungary yesterday was also bailed out by the IMF to the turn of $28 Billion and the news prompted a rise in both their currency and stock market.
AARP members should be aware that the costs of any rescue package has to be paid by someone, as Icelanders now know its going to be a long hard winter.
House holders in the UK are still struggling with some 70% of owners having to face the fact that the continued fall in house prices resulting in their loans exceeding the value of their houses. Perhaps and interest rate cut her might help, but at the moment no institutions are lending money.
The main question on the lips of members of AARP is have the markets reached rock bottom. Stock and shares are at bargain basement level compared to the past twenty years. Multi-Millionaires like Warren Buffet are prepared to take the risk but who is prepared to follow them?