Keep Calm & Sell Your Stocks Now!!
Cool Quote of the Day: “Let your soul stand cool and composed before a million universes.” – Walt Whitman
Did’ja Know: It was on this date in 1894 the Wilson-Gormann Tariff was passed by the House of Representatives; attached to this bill was a passage relating to a national income tax. The Supreme Court later struck down the bill but it did put the idea of a national income tax on the legislative map. With the passage of the 16th Amendment in 1913 income tax soon became a part of American life. I’ve never seen them before but this is what I picture Wilson and Gormann looking like.
Wuss’up This Week: Now that the stock market has stopped panicking it’s up to the daily economic reports to decide which direction interest rates go. Today we’ve got the Durable Goods Orders (expected: down 0.4%), tomorrow Jobless Claims (expected: 270k), and on Friday Consumer Sentiment (expected: 93.3) which is a survey of 500 households on how they feel about the economy and willingness to spend money.
Interest rates have stubbornly held onto where they were before the stock market got beat up. Usually as the market does bad rates will go down. Today’s 30yr fixed is in the upper-3s/low-4s and ARM rates are about a .50-.75 lower. As usual rates will vary based on credit score, type of home, equity in the home, and if you think John Wayne would’ve made a good swimming teacher.
Don’t Forget to Remember: Any purchase or refinance loan over $240k I will waive all lender fees – a savings of $1,050! Grab yourself a cup of instant karma and let your friends, family, coworkers, and Bat Dads know what a great deal this is!
Cool Quote of the Day 2: “You’re not cool if you have to tell people you’re cool. I’m looking at you, Cool Whip.” – @badbanana
Timeout for Trivia: Congrats to those who guessed John Stamos last week. Want to be entered into a drawing to win an Image Lock?. Simply email me the answer to this week’s Who Am I? question. Good luck: “In two days I turn 46. Here’s a top 5 list of what makes me great: 1. My breakout film was in 2000 when I starred with the lead who was short a couple bucks in a previous movie. 2. My passion in that role was probably what led me to be hired to be a teacher in my 2003 film (*the principal of that film reminds me of the lead in the 2000 film). 3. While critics say most of my films are black comedies, I believe they are more mainstream. 4. I’ve starred in a couple of karate movies even though you don’t technically see me. 5. I won a ‘Razzie Award’ for my 2010 film – probably because I was too big for the part.”