Well you can get 7.35% down here in New Zealand and we’ve got fixed mortgages at 8.50% showing just 115 basis points between the two.
I’m sure you can’t do that in the US right now – but I’m also sure that you aren’t paying 9% for your mortgages either …
:hehe:
All of that explains why the NZ$ has jumped from 40 US cents to 70 US cents in the last 18 months.
The $300,000 is true – but once you factor in the cost of the deposits and the fact that Dollars paid in 30 years time (assuming 4% inflation) will be worth only about 1/4 of what they’re worth today it isn’t much of a profit.
A rough calculation is that their profit (after funding) should be about 20% ($60,000) and then adjusted for inflation it is about $20,000 …
(10 years working in the finance industry creating financial transaction systems teaches you a bit about this)
And back to the real discussion …
I guess that I have more faith in the senate to do it properly if it’s the actual focus of the bill – rather than a silly tack-on.
I mean the port security bill DID do a good job of tightening Port Security right? And ensuring Port ownership laws for US entities…
So if they actaully thought about online gamblnig as the MAIN issue – and used appropriate subject matter experts – then who knows – even the senate could get it right …
:woo-hoo: