The Rates They Keep a Risin'

The Fed raised rates another quarter of a percent today. Like anyone had any doubt. Congratulations to all you savers out there and better luck next fed meeting to all you borrowers.

Now the question is what will happen next time the Fed gets together. My bet is on more raises and I'd think there are going to be a few more, at least 3. Don't ask me why because I don't know, I just feel these things.

Woot Goes Cockeyed

Today at Woot.com they are selling a crosscut paper shredder for 19.99. And guess what they say in their story. They mentioned the torn up credit card application of Rob Cockerham at Cockeyed.com. That's awesome Rob, congratulations! If I were you I'd ask for a cut of the sales (no pun intended).

Why do you read finance blogs?

I'm curious to find out why everyone is reading all these finance blogs that are out there. Leave a comment and tell us all why it is that you (and the rest of us) are so fascinated by finance blogging. I know that there is no reason to read my blog so just tell me why you read all of the others. If you have some favorites talk about those too.

Get every last drop

Here's some tips from GMAC Bank courtesy of SavingAdvice.com.

After you have finished filling up, turn the gas pump nozzle around 180 degrees. This will drain about a half cup of gasoline into your tank which you would otherwise spill or give to the next customer.

Consider bartering or trading goods and services with others instead of paying cash.

If you don't mind doing your banking from home, try a virtual bank. They tend to have lower fees and pay higher interest rates.

Those are some great tips. I especially like the last one.

If you don't already have a GMAC Bank Money Market account I would suggest that you get one. It is my favorite of all the accounts I have (ING, Emigrant, and HSBC). It has a nice website, unlimited linked accounts (which require no verification time, so you can link a new account and move money in the same day), the ability to write checks, and of course they give you those great money saving tips from SavingAdvice.com. I feel like I'm pushing GMAC Bank, but in my opinion they are the best and yet all of the finance bloggers out there seem to pass them up, give them the cold shoulder, diss them for no good reason. I just can't stand for that. When I see injustice I can not stand for it. So I ask, Why do you hate GMAC Bank?

NetBank offers 7.51% 1-year CD

I opened a NetBank account back in December to get the $75 bonus that they were offering for their checking accounts. I have since pulled my initial $1500 required to open the account and placed it in higher yield savings account sans $1. So I was just curious today and decided to go to the web site and see if I had missed any hidden fees (I didn't, but their are some closing and inactivity fees, the reason for the $1) and I noticed the "Your special offers" link on the side bar. "My special offer" is a $50 visa gift card for opening a 1-year CD with $2000 or more at an APY of 5.01%.

After a year the APY will pay you $100.20 if you add in the $50 Visa gift card that totals $150.20, for a total annual yield of 7.51%. I like that myself, so I'm going with it. If you have NetBank you may want to consider this if it's offered to you and if you don't have NetBank you might want to sign up for the checking account for a $75 bonus and see if the CD bonus is offered to you as well.

Here I've listed the disclosure from NetBank

*Annual Percentage Yield. The stated APY is accurate as of 03/07/2006 and may change before your account is funded. The rate and yield you receive are determined by the date we receive your deposit. Get a $50 Visa® Gift Card when you open and fund a 1-year (or longer) term Certificate of Deposit (CD) with a minimum balance of $2,000 for 30 consecutive days and a minimum term of 12 months. Funding must be money not currently on deposit with NetBank®. Service fees or penalties charged against the account may reduce earnings. Penalty fee for any early withdrawal of funds. CD must be funded within 120 days after opening the account or it will be closed. Offer good until March 31, 2006.

Customers who meet the qualifying criteria will be paid a $50 Visa® Gift Card, which will be mailed to the address provided by the account holder within 4 weeks of meeting the promotional requirements of opening the CD.

All offers are subject to all applicable laws and regulations and NetBank's Terms and Conditions. See the Fee Schedule and Truth-in-Savings disclosure for more information.

Worth its Weight in Gold

I've reprinted this from Stop the ACLU. It is a brilliant document and I believe it reflects the true meaning of freedom in a world that hates it.

MANIFESTO: Together facing the new totalitarianism

After having overcome fascism, Nazism, and Stalinism, the world now faces a new totalitarian global threat: Islamism.

We, writers, journalists, intellectuals, call for resistance to religious totalitarianism and for the promotion of freedom, equal opportunity and secular values for all.

The recent events, which occurred after the publication of drawings of Muhammed in European newspapers, have revealed the necessity of the struggle for these universal values. This struggle will not be won by arms, but in the ideological field. It is not a clash of civilisations nor an antagonism of West and East that we are witnessing, but a global struggle that confronts democrats and theocrats.

Like all totalitarianisms, Islamism is nurtured by fears and frustrations. The hate preachers bet on these feelings in order to form battalions destined to impose a liberticidal and unegalitarian world. But we clearly and firmly state: nothing, not even despair, justifies the choice of obscurantism, totalitarianism and hatred. Islamism is a reactionary ideology which kills equality, freedom and secularism wherever it is present. Its success can only lead to a world of domination: man's domination of woman, the Islamists'’ domination of all the others. To counter this, we must assure universal rights to oppressed or discriminated people.

We reject cultural relativism, which consists in accepting that men and women of Muslim culture should be deprived of the right to equality, freedom and secular values in the name of respect for cultures and traditions. We refuse to renounce our critical spirit out of fear of being accused of "Islamophobia", an unfortunate concept which confuses criticism of Islam as a religion with stigmatisation of its believers.

We plead for the universality of freedom of expression, so that a critical spirit may be exercised on all continents, against all abuses and all dogmas.

We appeal to democrats and free spirits of all countries that our century should be one of Enlightenment, not of obscurantism.

12 signatures

Ayaan Hirsi Ali
Chahla Chafiq
Caroline Fourest
Bernard-Henri Lévy
Irshad Manji
Mehdi Mozaffari
Maryam Namazie
Taslima Nasreen
Salman Rushdie
Antoine Sfeir
Philippe Val
Ibn Warraq