Your Money Crasher Minute: Higher, Higher!

Welcome to this week's edition of your Money Crasher Minute Having trouble viewing this email? [Click here]( In partnership with[Red Rock Logo Small (1).png] # We're now officially in fall. It's nice to have an opportunity to turn over a new leaf after a choppy end to the summer. But will autumn be any smoother? This week, Money Crashers COO Michael Pruser offers his take on the news — and there was no shortage of it. All eyes have been on the Fed  lately as it tries to beat down inflation with a hammer we call interest rates. But more and more it feels like investors aren't the only ones taking a pounding. [Jim_Cirigliano Headshot.png] Jim Cirigliano Editor Quick Market Price Check Last updated: September 26, 4:15pm EST 3,655.04 S&P 500 (-23.80% YTD) $19,159.60 Bitcoin Price (-59.86% YTD) 6.59% 30-yr fixed mortgage Higher, Higher, Straight Up We’ll Climb (Sammy was always Van Halen) Last week, the Federal Reserve decided once again to raise the Federal Funds Rate another 0.75%, bringing the interest rate up to 3.00% to 3.25%. As a result, mortgage rates have soared well beyond 6% and credit card interest rates are slated to rise higher than they’ve been in three decades. I know it sounds pretty depressing. But the good news is it’s only going to get worse so this really isn’t that bad!  No More Mining! In the world of crypto, [Ethereum has completed its Merge upgrade](. Ethereum has gone from a proof-of-work concept to a proof-of-stake concept, which it predicts will reduce the world’s electricity consumption by 0.2%. If you’re like me and have no idea what Ethereum, Merge or proof-of-stake mean, think of it this way: California will now give residents five extra minutes of electricity before politely asking them to turn everything off.  Honda Giveth, Honda Taketh Away In Ohio, car manufacturer [Honda has asked for repayment]( from hundreds of its employees after realizing it overpaid promised bonuses. Rather than just eating the few hundred dollars mistakenly given to each employee, Honda decided it would be good PR to announce employees have nine days to make full restitution or future wages will be garnished.  You know what they say, it's better to have been given a bonus and lost it than to have never been given a bonus at all.  Red Rock Secured (Sponsored) With inflation soaring and the stock market continuing its Jekyll and Hyde performance in 2022, precious metals offer a bit of stability in an otherwise unstable investing environment. [Red Rock Secured]( features a Gold IRA that allows you to protect your retirement while owning physical assets rather than digital ones. When you invest with Red Rock Secured, you can choose to have your assets stored in Red Rock's preferred depository (insured by Llyods of London) or, if you wish, your gold can be delivered right to your home. Red Rock Secured offers price protection on your metals, no fees for life, and has some of the best education tools and customer service available. For more information about how you can set up a Gold IRA, visit [RedRockSecured.com](.  [GettyImages-170616880.jpg] Jeff Bezos Is a Poor Man's Gautam Adani Earlier this month, a man name [Gautam Adani overtook former Amazon CEO Jeff Bezos]( #2 spot on the world’s richest people list. Gautam is a college dropout who pursued the life of entrepreneurship in his early 20’s and now owns a plethora of Indian infrastructure and energy, amassing a net worth of $150 billion. Keep that in mind when your 20-year old tells you they’re dropping out of college to start an iPhone case Etsy shop — they could own airports in a few short years! Good Thing Euros Are Worth Less The EU fined [Google a whopping $4.12 billion Euros for its antitrust violation](. The declaration from the European court confirmed an initial ruling that Google restricted Android mobile devices and allowed Google to maintain a dominant position for its search engine. This is the third time Google has been forced to pay the EU, now having racked up more than $8B in fines. In a completely unrelated story, the EU has invested $4.12B into DuckDuckGo. I’m told while users' privacy remains secure, they will be inundated with advertisements for Guinness. Buy Now Pay Never During the pandemic the idea of Buy Now Pay Later, or "BNPL" as the kids call it, took off. Millions of Americans have been hitting online retail stores ($24 billion spent in 2021) for everything from [sneakers to peaches]( and now that the bill is coming due, delinquencies are on the rise. Allow me to offer a simple solution. Take out a payday loan to pay off the BNPL purchase. Then, open a new credit card to pay off the payday loan. Find yourself a good personal loan to pay off the credit card and then take out a HELOC to pay off the personal loan. Now you’ve paid for your peaches. Problem solved. [GettyImages-1312617155.jpg] Sent to: {EMAIL} [Unsubscribe]( Money Crashers, LLC, 1887 Whitney Mesa Dr #3030, Henderson, NV 89014, United States