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"Moves wealth by stealth from savers to big mortgage holders"

Should be :

"Moves wealth from savers without NS&I certs to mortgage holders with base rate trackers".

I have positioned myself to take advantage of this (bigger mortgage than necessary to keep funds in NS&I). I see this situation continuing for at least another year.

Prior to buying, I couldn't get all my savings into NS&I and felt I was being robbed every day as my STR fund was losing real value. I don't care about making real gains in anything, I just don't want my stuff stolen.

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It's a shocking state of affairs. There is no way you can justify making sensible people who save and live within their means bailout the feckless.

Sickening country.

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This is a rather circular argument.

If the borrower is 'feckless' and inflation bails them out, what does that make the saver who lent to the feckless borrower who is bailed out by the inflation which is nominally bailing out the borrower?

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This is a rather circular argument.

If the borrower is 'feckless' and inflation bails them out, what does that make the saver who lent to the feckless borrower who is bailed out by the inflation which is nominally bailing out the borrower?

What about the saver who has a home safe. Which ever way you cut it, most of the population should now go bankrupt and lose their homes, as they took on too much debt. Oh so simple, yet it's a muppet fest down at the BOE while they try and think of ways of convincing us that bailing out the feckless at the expense of the prudent is acceptable.

What a laughable country this is. :rolleyes:

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What about the saver who has a home safe. Which ever way you cut it, most of the population should now go bankrupt and lose their homes, as they took on too much debt. Oh so simple, yet it's a muppet fest down at the BOE while they try and think of ways of convincing us that bailing out the feckless at the expense of the prudent is acceptable.

What a laughable country this is. :rolleyes:

Agreed. The irony is that the prudent are likely to be the more intelligent/savvy, and as such more likely to be able to create wealth through growing businesses or ideas. But rather than free them to do that, and indeed allow them to buy cheap bankrupt assets that they can build upon, they are having their wealth reduced, which makes them even less likely to invest it for growth. So not only is their money stolen, but they are prevented from creating new wealth, and therefore new jobs.

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Agreed. The irony is that the prudent are likely to be the more intelligent/savvy, and as such more likely to be able to create wealth through growing businesses or ideas. But rather than free them to do that, and indeed allow them to buy cheap bankrupt assets that they can build upon, they are having their wealth reduced, which makes them even less likely to invest it for growth. So not only is their money stolen, but they are prevented from creating new wealth, and therefore new jobs.

As RK says they havent really been prudent though, nearly all of them have given their money/labour to institutions to lend recklessly, thats not prudent or at least no more prudent than the borrowers believing that boom & bust was over

Edited by georgia o'keeffe

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"Moves wealth by stealth from savers to big mortgage holders"

Should be :

"Moves wealth from savers without NS&I certs to mortgage holders with base rate trackers".

I have positioned myself to take advantage of this (bigger mortgage than necessary to keep funds in NS&I). I see this situation continuing for at least another year.

Prior to buying, I couldn't get all my savings into NS&I and felt I was being robbed every day as my STR fund was losing real value. I don't care about making real gains in anything, I just don't want my stuff stolen.

Technically it moves wealth to those that borrow large amounts of money to buy an asset whose value increases by inflation or more.

Not necessarily mortgage holders then.

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IMO, someone who saves (buys gold etc) rather than the tosser who needs that new car or 50" TV on tick, should be taken care of first. Savers are the ones with the capital after all.

Consumers are the dirty dregs of capitalism. Lowest of the low, who need a new iphone and a hardwood floor to make them feel secure.

Fook 'em. It should be down the hole for this lot IMO, but no, Merv thinks the pond life must be saved at all costs. Like I said, this is a pathetic country run by maniacs.

Edited by Wait & See

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Agreed. The irony is that the prudent are likely to be the more intelligent/savvy, and as such more likely to be able to create wealth through growing businesses or ideas. But rather than free them to do that, and indeed allow them to buy cheap bankrupt assets that they can build upon, they are having their wealth reduced, which makes them even less likely to invest it for growth. So not only is their money stolen, but they are prevented from creating new wealth, and therefore new jobs.

Good post. Send it to the papers. Or even better your mp.

Seriously.

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What about the saver who has a home safe. Which ever way you cut it, most of the population should now go bankrupt and lose their homes, as they took on too much debt. Oh so simple, yet it's a muppet fest down at the BOE while they try and think of ways of convincing us that bailing out the feckless at the expense of the prudent is acceptable.

What a laughable country this is. :rolleyes:

Well Said, people should be responsible for there own actions no one forced them to take out a huge mortgages for an over inflated market.

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Well Said, people should be responsible for there own actions no one forced them to take out a huge mortgages for an over inflated market.

Hardly any body did take a huge mortgage out, the banks were lying about having money.

Most of the "savers" didn't ask where the cash came from and should lose the lot.

Certainly shouldn't be taxing the unborn to make them whole, it's pathetic.

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Agreed. The irony is that the prudent are likely to be the more intelligent/savvy, and as such more likely to be able to create wealth through growing businesses or ideas. But rather than free them to do that, and indeed allow them to buy cheap bankrupt assets that they can build upon, they are having their wealth reduced, which makes them even less likely to invest it for growth. So not only is their money stolen, but they are prevented from creating new wealth, and therefore new jobs.

+ 1

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Low IR's ain't the answer here. Inflation burys everyone where as high IR's only crush the diddy mortgage holder. They deserve to go to the wall for believing that "property prices only ever go up."

It's two fools a minute in the UK these days, between the BOE, the "home owners" (lol) and the coalition. :unsure:

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Agreed. The irony is that the prudent are likely to be the more intelligent/savvy, and as such more likely to be able to create wealth through growing businesses or ideas. But rather than free them to do that, and indeed allow them to buy cheap bankrupt assets that they can build upon, they are having their wealth reduced, which makes them even less likely to invest it for growth. So not only is their money stolen, but they are prevented from creating new wealth, and therefore new jobs.

If they are that savvy how come they gave all their (fantasy) cash to conmen who lost it all?

Prudent is what you find out through events, it's not something you get to label yourself and then demand from everyone else.

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The stupid borrower is as bad as the scum bank.

Not so.

Most borrowers never actually got anything, it was all lies.

most savers also never got anything, it was all lies.

This is about breaking up real world families, destroying industries, removing social protestions hard fought for etc etc just so some ******nut bankers number dreams add up. Beyond mental and far from "prudent."

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What about the saver who has a home safe. Which ever way you cut it, most of the population should now go bankrupt and lose their homes, as they took on too much debt. Oh so simple, yet it's a muppet fest down at the BOE while they try and think of ways of convincing us that bailing out the feckless at the expense of the prudent is acceptable.

What a laughable country this is. :rolleyes:

Why is lending money to a business which is lending that money to people to buy houses at the top of the biggest housing bubble ever considered 'prudent'?

Wouldn't you call it reckless and feckless to do so? Moreover if you knew in advance that if the business went bust you would only get £35k of your money back but went ahead anyway wouldn't you call that gross stupidity of imbecilic proportions?

That's what 'savers' were doing.

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It looks to me like most people are desperate to buy things that they can't afford to give the impression of being wealthy and successful............."but....but, the advert told me thet I needed a new Peugeot"...lol.

They go to the bank and are desperate to sign on that dotted line to buy an overpriced property that they can't afford and an X5 that they can't afford and a fitted kitchen for the property that they rent off the bank, that they can't afford.

90% of the population need to wake up to the fact that they are poor slaves and thats it. They don't deserve anything under our current system.

Like it was before the 1960's.

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Why is lending money to a business which is lending that money to people to buy houses at the top of the biggest housing bubble ever considered 'prudent'?

Wouldn't you call it reckless and feckless to do so? Moreover if you knew in advance that if the business went bust you would only get £35k of your money back but went ahead anyway wouldn't you call that gross stupidity of imbecilic proportions?

That's what 'savers' were doing.

Even if you hold physical cash, you are currently losing.

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Even if you hold physical cash, you are currently losing.

Yeah, but you aren't actualyl giving it to known conmen to spunk up the wall!

jesus. "I've taken a known conmans soothing words that I have money into a high street bank therefore I am prudent and I deserve interest and protection" is just retarded.

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Exactly. It's inflation i'm more interested in. If you hold 100k in cash under the fecking bed, it still costs you more to buy a loaf of bread, so eroding the value of your capital, so that Merv can help out the hard pressed families who thought that "property prices only ever go up."

Sad!!

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  • 284 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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