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We'll All Suffer If Bank Rates Rise--From Sunday Times

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According to Nina (a dreary journalist fond of writing nauseating articles on investing in shares for her childrens future etc) interest rates shouldnt rise because it would "be an utter disaster....... the thing is that most of those who have significant savings are long past the stage of being in hock up to the bank in the form of a mortgage. And yes we've all heard the stuff about "greedy" property speculators, but actually most people are just trying to put a roof over their familys heads........indeed one big incentive for the bank to leave inflation to sort itself out is that it can be good to reduce deficits - you just inflate your way out of them."

The truth is of course quite the opposite, as Lord Young pointed out to his cost most people with mortgages (like Nina montagu smith presumably) are better off than ever before........however with a mobilized vocal minority of journalists with vested interests churning out this simplistic vacuous bilge.....its easy to forget the real victims in this situation ie the young whose parents (unlike Nina) cant afford to help, the millions in rented accommodation, the elderly whose life savings are being trashed and the vulnerable, but thats not on message is it?

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Sorry I should have made it clear in title (can you do this in retrospect?) this was in the Sunday Times today..........article Nina Montagu smith

According to Nina (a dreary journalist fond of writing nauseating articles on investing in shares for her childrens future etc) interest rates shouldnt rise because it would "be an utter disaster....... the thing is that most of those who have significant savings are long past the stage of being in hock up to the bank in the form of a mortgage. And yes we've all heard the stuff about "greedy" property speculators, but actually most people are just trying to put a roof over their familys heads........indeed one big incentive for the bank to leave inflation to sort itself out is that it can be good to reduce deficits - you just inflate your way out of them."

The truth is of course quite the opposite, as Lord Young pointed out to his cost most people with mortgages (like Nina montagu smith presumably) are better off than ever before........however with a mobilized vocal minority of journalists with vested interests churning out this simplistic vacuous bilge.....its easy to forget the real victims in this situation ie the young whose parents (unlike Nina) cant afford to help, the millions in rented accommodation, the elderly whose life savings are being trashed and the vulnerable, but thats not on message is it?

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Sorry I should have made it clear in title (can you do this in retrospect?) this was in the Sunday Times today..........article Nina Montagu smith

You can edit posts. See that option on the bottom right corner of your post.

And in your opening post you can also edit its tittle.

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people arent better off.

theyre better off in the short-term but its like saying, students will be better off under the new higher university fees.

althought they may now end up 30-40k in debt the rate that they pay it back has decreased.

all that has happened is that you are being bled dry more slowly, but over the life of your debt, you are far worse off, why? because ultimately it has to be paid off!

it like reducing your minimum repayment on your credit card and thinking your monthly outgoings have gone down.

.

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According to Nina (a dreary journalist fond of writing nauseating articles on investing in shares for her childrens future etc) interest rates shouldnt rise because it would "be an utter disaster....... the thing is that most of those who have significant savings are long past the stage of being in hock up to the bank in the form of a mortgage. And yes we've all heard the stuff about "greedy" property speculators, but actually most people are just trying to put a roof over their familys heads........indeed one big incentive for the bank to leave inflation to sort itself out is that it can be good to reduce deficits - you just inflate your way out of them."

The truth is of course quite the opposite, as Lord Young pointed out to his cost most people with mortgages (like Nina montagu smith presumably) are better off than ever before........however with a mobilized vocal minority of journalists with vested interests churning out this simplistic vacuous bilge.....its easy to forget the real victims in this situation ie the young whose parents (unlike Nina) cant afford to help, the millions in rented accommodation, the elderly whose life savings are being trashed and the vulnerable, but thats not on message is it?

Who is the Sunday Times' target audience? Everytime I open this newspaper it makes me want to throw up. Glossy, green wellies and Chelsea tractor twaddle. If I have to read one more article about Jemima's organic nappy business or Felicity's guide to shabby-chic, totally recycled and available at a store near you (as long as you live in Notting Hill) decor, I'll go insane - perhaps it's already too late... No wonder printed media sales are in decline, most of the writers are uninspired know-nothings.

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It might be the case that retirees with savings have to actually spend those savings and thus depreciate the capital rather than live off the interest that prehaps cant be generated by borrowers in a low growth environment.

Edited by CHF

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Who is the Sunday Times' target audience? Everytime I open this newspaper it makes me want to throw up. Glossy, green wellies and Chelsea tractor twaddle. If I have to read one more article about Jemima's organic nappy business or Felicity's guide to shabby-chic, totally recycled and available at a store near you (as long as you live in Notting Hill) decor, I'll go insane - perhaps it's already too late... No wonder printed media sales are in decline, most of the writers are uninspired know-nothings.

I have given them up also, am not only buying so called newspapers and attached glossy supplements that are inviting me to purchase some in fad or fashion for more than most people earn in a week with pages full of adds trying to entice money from the masses.

I now do not buy any magazines of any sort...same old same old.....might pick one up in the dentist or doctors, the date says two years past it could have been published yesterday for all the insight and up-to-date information that it has to offer.... don't get me going about the 'chat' style magazines......knowing that there must be a market for them speaks volumes about where we are......I sometimes wonder where we are going ;)

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The average age of an unassisted first time buyer is now 37. Many have 'significant savings' in terms of average incomes which suddenly become insignificant savings when compared to the astronomical cost of housing. THAT is the problem and it isn't going to be solved by leaving interest rates miles below the rate of inflation and house prices totally unaffordable to an entire generation.

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Who is the Sunday Times' target audience? Everytime I open this newspaper it makes me want to throw up. Glossy, green wellies and Chelsea tractor twaddle. If I have to read one more article about Jemima's organic nappy business or Felicity's guide to shabby-chic, totally recycled and available at a store near you (as long as you live in Notting Hill) decor, I'll go insane - perhaps it's already too late... No wonder printed media sales are in decline, most of the writers are uninspired know-nothings.

Agree its a smug self satisfied rag. Target audience?....let me see now......oh yes that will be the smug and self satisfied.

Opted for a change after 30 yrs of reading the observer (got fed up with that too) But wont darken my door again. Options running out.......

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It might be the case that retirees with savings have to actually spend those savings and thus depreciate the capital rather than live off the interest that prehaps cant be generated by borrowers in a low growth environment.

That's what savers have been told to do.

Savers should stop complaining about poor returns and start spending to help the economy, a senior Bank of England official warned today.

Mr Bean said he "fully sympathised". But he continued: "Savers shouldn't necessarily expect to be able to live just off their income in times when interest rates are low. It may make sense for them to eat into their capital a bit."

He added: "Very often older households have actually benefited from the fact that they've seen capital gains on their houses."

http://www.telegraph.co.uk/finance/personalfinance/savings/8028884/Savers-told-to-stop-moaning-and-start-spending.html

The BoTfSiE think that 100% of people with savings are old and own their house. Anyone younger should not have savings, they should be in debt.

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Agree its a smug self satisfied rag. Target audience?....let me see now......oh yes that will be the smug and self satisfied.

Opted for a change after 30 yrs of reading the observer (got fed up with that too) But wont darken my door again. Options running out.......

have you considered Heat?

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That's what savers have been told to do.

Savers should stop complaining about poor returns and start spending to help the economy, a senior Bank of England official warned today.

Mr Bean said he "fully sympathised". But he continued: "Savers shouldn't necessarily expect to be able to live just off their income in times when interest rates are low. It may make sense for them to eat into their capital a bit."

:lol::lol::lol::lol::lol::lol::lol:

Yes, I'm really going to go out and blow all of my savings to 'help the economy', which I played no part in destroying. I will be quite happy to bail out the profligate so that they can keep 'their' house and I can never have one. :angry:

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Savers should stop complaining about poor returns and start spending to help the economy, a senior Bank of England official warned today.

Mr Bean said he "fully sympathised". But he continued: "Savers shouldn't necessarily expect to be able to live just off their income in times when interest rates are low. It may make sense for them to eat into their capital a bit."

Yeah right go out and spend spend spend to help prices go up even more. Double whammy.

How is the "expect" word at all appropriate in the context of his "warning". Which savers could ever have really expected savers interest rates to be at 300 + year lows through the ineptitude of the BoE, banks and government policies.

"In times when interest rates are low" as if the current rates are almost an everyday event.

Edited by billybong

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Yeah right go out and spend spend spend to help prices go up even more. Double whammy.

How is the "expect" word at all appropriate in the context of his "warning". Which savers could ever have really expected savers interest rates to be at 300 + year lows through the ineptitude of the BoE, banks and government policies.

"In times when interest rates are low" as if the current rates are almost an everyday event.

And they couldn't really have expected the unprecedented 'Quantitative Easing' which has devalued their savings.

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it like reducing your minimum repayment on your credit card and thinking your monthly outgoings have gone down.

No its not.

Your monthly outgoings have gone down if there is less interest being added to the outstanding balance.

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Nina fully-paid-up-numpty sounds silly boys and girls, she sounds EXTRA-menstrual today boys and girls because her house(s) are losing value (they never really had any value, but that is for big boys and girls class) Listen to your Uncle Dances with Sheeple instead, you can go very wrong with bricks and mortar boys and girls, you can end up lost in the woods,you can end up with NE! That is No Equity,that means you can`t ever audition for American Idol boys and girls, you wouldn`t want that, would you?

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I now do not buy any magazines of any sort...same old same old.....might pick one up in the dentist or doctors, the date says two years past it could have been published yesterday for all the insight and up-to-date information that it has to offer.... don't get me going about the 'chat' style magazines......knowing that there must be a market for them speaks volumes about where we are......I sometimes wonder where we are going ;)

I don't want no lies

I don't watch TV

I don't waste my time

Won't read a magazine

Madonna - Nobody Knows Me

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Any one else see the census story on page 3 (Who's been sleeping in your bed ?):

One of the questions (that will be asked under caution if you refuse to answer) is

...whether they have a second home

Could this be the start of a new view on tax / multiple properties... me thinks so ! :)

Either that or you get a massive rebate for helping to stimulate the economy

Edited by monks

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The Sunday Times was very confused today. Not only as the first poster pointed out did we have Nina Montagu-Smith telling us that interest-rates mustn't go up we also had the economics editor David Smith telling us that they should never have gone below 2%!

Actually I have heard that argument put more articulately on the excellent Notayesmanseconomics blog but I remember David Smith being a cheerleader for interest-rate cuts and more Quantitative Easing. Perhaps his memory is failing him. Anyway he made his views so clear that the deputy editor of the money section of the same paper missed them!

Next we will see "there is no inflation danger" David Smith telling us that he was warning of the dangers of inflation ages ago...

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According to Nina (a dreary journalist fond of writing nauseating articles on investing in shares for her childrens future etc) interest rates shouldnt rise because it would "be an utter disaster....... the thing is that most of those who have significant savings are long past the stage of being in hock up to the bank in the form of a mortgage. And yes we've all heard the stuff about "greedy" property speculators, but actually most people are just trying to put a roof over their familys heads........indeed one big incentive for the bank to leave inflation to sort itself out is that it can be good to reduce deficits - you just inflate your way out of them."

The truth is of course quite the opposite, as Lord Young pointed out to his cost most people with mortgages (like Nina montagu smith presumably) are better off than ever before........however with a mobilized vocal minority of journalists with vested interests churning out this simplistic vacuous bilge.....its easy to forget the real victims in this situation ie the young whose parents (unlike Nina) cant afford to help, the millions in rented accommodation, the elderly whose life savings are being trashed and the vulnerable, but thats not on message is it?

...if we wish to survive our journey it's time we faced our demons ...and the true cost of money ....further denial postpones the day of reckoning ....... :rolleyes:

Edited by South Lorne

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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