R K Posted September 8, 2011 Share Posted September 8, 2011 Correct, thats 40 billion in interest that is not being spent. Which would as a byproduct stimulate the economy and create jobs. The 'savers' didn't spend it. That's why they're called 'savers'. Thus it must have been spent by the 'borrowers' if that's who have been the recipients (it's more likely the banks in the main), since the 'borrowers' axiomatically aren't 'savers'. Quote Link to comment Share on other sites More sharing options...
campervanman Posted September 8, 2011 Share Posted September 8, 2011 here Raise interest rates and people saving for houses get their deposit together sooner, oldies relying on savings interest have more to spend and hard working families with mortgages to pay work a bit harder to pay the higher mortgage costs. Everyones a winner. Quote Link to comment Share on other sites More sharing options...
Take Me Back To London! Posted September 8, 2011 Share Posted September 8, 2011 Correct, thats 40 billion in interest that is not being spent. Which would as a byproduct stimulate the economy and create jobs. But you need people to save money, which allows that money to used for business investment. You can't spend your way to prosperity on the never-never. Quote Link to comment Share on other sites More sharing options...
okaycuckoo Posted September 8, 2011 Share Posted September 8, 2011 Reported in the paper today that the subsidy to UK banks last year from various state wheezes was worth £45B. These figures are doin' me 'ead in! Quote Link to comment Share on other sites More sharing options...
jaspers Posted September 8, 2011 Share Posted September 8, 2011 The 'savers' didn't spend it. That's why they're called 'savers'. Thus it must have been spent by the 'borrowers' if that's who have been the recipients (it's more likely the banks in the main), since the 'borrowers' axiomatically aren't 'savers'. Haven't the borrowers spent it to pay down debt, with all that entails? Quote Link to comment Share on other sites More sharing options...
winkie Posted September 8, 2011 Share Posted September 8, 2011 OTOH might a ten year old Bosch prove more reliable and last longer than a new Beko? Bought my 2nd hand good as new Bosh on BBay......£40 buyer collects ( sold my knackered HP for parts same way got £20 ) ....saved on vat and the money saved is the equivalent of tax free interest earned......so in other words saving money creates more interest. Quote Link to comment Share on other sites More sharing options...
Bear Goggles Posted September 8, 2011 Share Posted September 8, 2011 here It's nice to see that someone has actually tried to put a price on the theft that is taking place. The uncomfortable truth about this one is that it is a transfer of wealth not only from the prudent to the feckless, but also from the old to the middle aged. Remember the run on northern rock? Remember the average age of the people queuing up outside? It's the older generation that keep their money as cash in the bank, and all the while the government and the BoE were promising to guarantee their deposits they were implemting policies designed to inflate it all away. The old are unlikely to riot in the street about this, but if they wake up and get wind of what is happening they might deploy their deadliest weapon. Their voting power. Quote Link to comment Share on other sites More sharing options...
tricksters Posted September 8, 2011 Share Posted September 8, 2011 The old are unlikely to riot in the street about this, but if they wake up and get wind of what is happening they might deploy their deadliest weapon. Their voting power. Ooh scarey!! So they deploy their voting power. Then what happens? (Or are you tongue in cheek?) Quote Link to comment Share on other sites More sharing options...
The Pale Rider Posted September 9, 2011 Share Posted September 9, 2011 Let us borrow at BOE 0.5% rate and we will soon end the recession! Quote Link to comment Share on other sites More sharing options...
200p Posted September 9, 2011 Share Posted September 9, 2011 Max Keiser called it "the war between savers and borrowers" two years ago. Quote Link to comment Share on other sites More sharing options...
Take Me Back To London! Posted September 9, 2011 Share Posted September 9, 2011 There's a surprise. One of the reasons I buy gold and silver is to metaphorically stick two fingers up at this ridiculous state of affairs. It's not nearly enough but what else can we do? It's the best thing we can do converting our paper currencies for the two premier metallic reserve currencies. It has been said by many, confiscation awaits the PM savers, however at least with gold and silver one has a sporting chance to keep wealth intact. Quote Link to comment Share on other sites More sharing options...
LetsGetReadyToTumble Posted September 9, 2011 Share Posted September 9, 2011 here Wasted a few more electrons today reminding my MP that I have lost thousands of pounds. Any point? Does he care? Quote Link to comment Share on other sites More sharing options...
Jason Posted September 9, 2011 Share Posted September 9, 2011 Try "Talking about this is the massive rip-off Charities are becoming". The people running the big charities are getting paid £150K+++ ...not very charitable if you ask me. They are running the charity like big businesses. The adverts they now make/show for charities disgust me. They basically set out to make the viewer feel guilty so they donate ( and set up a £2 per month ( or whatever ) ad infinitum donation ). Half they money they then raise go into more advertising. This is not how I expect a charity to operate. When I moved house (newbuild estate so everyone sort of moved in around the same time) within about 6months all the big Charties had visited. However I hold the same view; also remember the Watchdog program - the collectors are employed by a company collecting on behalf of the charity and take the first years donations. Quote Link to comment Share on other sites More sharing options...
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