Interest rates !! (1 Viewer)

The low interest rate is the only thing that's stopping a recession hitting really hard...

There are alot of people on variable rates for their mortgage at the moment as they far outweigh any fixed term arrangement, if rates increased you would find alot of people struggling going forward including myself. I have a decent amount set aside in ISA's etc but they are not yielding much in rates but i would prefer the balance to keep this way!

Ashdown said:

Controversial I know, but after having a record low rate it's about time they rose and gave something back to many people who have been responsible and put some cash away, like the pensioners and others. I've just read an article saying that a number of MP's are still against rises due to so many people overstretching themselves whilst the rate is so low !! Tough fucking shite................I have nephews in the their late 20's with £300k detached houses and most of that on a mortgage for 30 years partly down to trying to compete with each other and showing off, it's these types the authorities and savers are propping up in the main !
Rant Over !

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I think It's more to do with printing money which has devalued the currency and dictates low Interest Ashdown.

It's a paradox where inflation Is low to have high Interest rates ,but Chicanery of a sort as well .

Remember the days we were told we had to kill Inflation with the use of horrendous crippling rates .

The prospect of rising rates will increase naturally as the bond markets react to not paying down the deficit as swiftly as predicted as the

tax take dwindles .

As the recovery was started with slackening of restrictions and aid into the property market It would be harsh on anyone whose borrowed

to buy Inflated property due to the continued free reign of Estate agents /Developers and Govt encouragement .

if I were a total cynic I would say that there was no need for the property Crash and all the chaos It caused as we're now using It to start a

recovery JMO.

I think as we become a lower tax taking nation expect further purchase /Vat increases In the future .

No need for huge departments keeping track of every ones affairs and getting them wrong ,just get Business to collect It for them on every

transaction /movement we make, catching people on fixed Incomes in the process Old/Disabled /Disadvantaged .

One thing I feel strongly about Is the younger generation up to around 40 but certainly under 30 are paying and are going to continue to

pay for the benefit the Golden /Silver haired generation that have had the best of all worlds over the last 50 yrs or so.

Huge property Inflation on their Investment .

The best Employment prospects.

Free University Education .

Extensive Health treatment benefit.

Great Pensions now not available .

The equity for many enough to purchase second/Homes abroad buy to let etc .

I don't see the current generation getting anywhere near those rewards for a life of work ,shame .

So In summation leave things be on Interest and give them kids a break!!

Rant over!!