Monday, October 06, 2008

Glimmer of hope

I have been watching Fox Business news since the beginning of these economic issues. If you are interested in knowing what to do with your money, whatever your politics, I strongly recommend you watch it when you can.

The analysts showed a map of the U.S. and only about 5 states are not at risk of suffering a recession. Thankfully, Texas is one of those states. The Midwestern states are at risk and the coastal states are already in one. However, oil is down below $90/barrel. I think it was at $110 when we first started. FBN reported that some parts of the nation are actually getting some relief at the gas pumps.

I also learned that the credit lending is going to be very tight. The auto industry is losing sales because the lending standards are changing. Apparently, only those whose credit scores are 700 and above are being qualified with decent rates. Lesser scores are being approved but they're sub-prime so their interest rates are much higher.

I wonder if these tighter credit standards means that the credit card invitations will stop. I don't get very many, anyway, because I signed on with Lifelock.

1 comment:

SunWolf said...

I still get two or three a day...and I especially hate those blank checks they send out every week...