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FFS anobium! If Interest Rates were going the other way then another section of society would be suffering. Its called economics. Live with it... the rest of the world has to!
Savers retaliate! Are you listening Brown
- Thread starter anobium
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True, like they did in the 80s when interest rates went up to 15%. I dont remember the government stepping in to help with my mortgage then.
No we had to cope with it ourselves unlike those today who always expect somebody else to pick up the pieces.
I repeat I have no problem with the genuine cases its just the spongers and users that get my goat and that those who were prudent are now expected to assist in subsidising the spongers and wastrels
Does anybody know if the buy to let merchants will be able to take advantage of the scheme?
They were hardly going to step in when it was their policies in action. The BoE base rate went up to 15% because the government of the day made it go that high. They had direct control and they deliberately raised rates to take money out of peoples pockets as a method to combat inflation.
AFAIK the BoE base rate has always been below the rate of inflation, except for a notable period in the eighties when it was deiberately and controversialy raised to a maximum of about 15% to combat inflation. Can you imagine what that did to borrowers?
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i have £20k in savings, rather than ride out the current situation i shall "blow" all said savings on fast cars, drink and even faster women. as enjoyable as it may be please tell me how "all the other various benefits" will either help me recover those savings or make my life any better without those savings?
If you are fortunate in having a reasonably well paid job and having £20k in savings it would not make sense to blow all your savings.
However if you are a pensioner with lets say the state pension and a small company pension you may well require the interest on your savings to maintain a reasonable standard of living.
If that rate is reduced considerably as is in the current climate you would have no option but to draw on you savings just to exist.
You wouldn't be entitled to any supp benefits because savings would above the permitted level which I think is currently set at £12k
It then is just a matter of time when you are eligible for the supp benefits, and instead of contributing to the state you become a dependent
And here we have a prime example of the ridiculous and the sublime - one post from someone who understands nothing about economics, and one from the exact opposite.
If only David Attenborough could be persuaded to bring along a camera team, he'd be delighted to find evidence of most of the spectrum of human evolution in merely two samples.
Another typical response from Softus, no contribution apart from a snide response. with the intention of winding somebody up.
Whats up Softus, run out of butterflys, no wings to pull off.
Get a life man, or is that boy?
It's swings and roundabouts, whilst savers have in the past been lapping up the higher rates the borrowers have suffered in making ends meet.
By the very nature of borrowing those who have done are usually short of cash whereas by the very nature of a saver they have money put aside and are not usually struggling to live, so if you had a choice of putting a tag to one or the other which one would you label greedy for complaining?
The question I believe is who needs the injection of cash more?
By the very nature of borrowing those who have done are usually short of cash whereas by the very nature of a saver they have money put aside and are not usually struggling to live, so if you had a choice of putting a tag to one or the other which one would you label greedy for complaining?
The question I believe is who needs the injection of cash more?
After an initial high rate, interest in this thread appears to be dwindling
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