Yesterday I received an e-mail from one of my banks. They were getting in touch to pass along some great news…..
The FDIC has increased your Deposit Insurance to $250,000
Wow, that’s great.
Accounting for inflation since the inception of the FDIC insurance plan I’m thinking there’s still more to go if they wanted to actually match the adjusted dollar amount from the beginning. Of course, the raised limit is more of a psychological boost for us small fries out here. The “big guys” got the bailout, and we’ll get the bill. Heck, toss us a bone!
I’ve been quiet on the economic front for a few weeks now. Busy with my own economy you might say. But it isn’t off the radar screen. I’m still watching closely…..
In the end, no matter who wins the Presidency we’re going to have continued economic issues for some time to come. Presidents don’t weild much power in the economic realm. It takes an act of Congress (literally), Fed intervention, or changes at the Treasury. Those are the places you need to watch. Let’s all hope the interference in markets is kept to a minimum and we allow the bad companies to clear out and let the good companies rebuild.
I’m just glad to know my account has been insured for more….. 😉