or in excess of Posted August 17, 2016 Report Share Posted August 17, 2016 http://www.thisismoney.co.uk/money/saving/article-3744156/Top-one-year-fixed-bonds-pay-1-5-BoE-launches-scheme-help-banks-borrow-money-rock-bottom-rates.html No respite for savers. Quote Link to post Share on other sites
Bruce Banner Posted August 17, 2016 Report Share Posted August 17, 2016 Hammond, more of the same . Quote Link to post Share on other sites
Noallegiance Posted August 17, 2016 Report Share Posted August 17, 2016 Semi disguised QE Quote Link to post Share on other sites
Bruce Banner Posted August 17, 2016 Report Share Posted August 17, 2016 (edited) Semi disguised QE Worse than QE for savings rates. Edit: Having said that, I'd rather have zero interest on my savings than the 20% inflation of the early 70s. Edited August 17, 2016 by Bruce Banner Quote Link to post Share on other sites
rantnrave Posted August 17, 2016 Report Share Posted August 17, 2016 Worse than QE for savings rates. Edit: Having said that, I'd rather have zero interest on my savings than the 20% inflation of the early 70s. I'd take 0% on my savings and house prices falling by 5% a year. Presently I've got 2% on my savings and house prices increasing at about five times that rate. Have been running up on the downward escalator for over ten years now... Quote Link to post Share on other sites
Bruce Banner Posted August 17, 2016 Report Share Posted August 17, 2016 I'd take 0% on my savings and house prices falling by 5% a year. Presently I've got 2% on my savings and house prices increasing at about five times that rate. Have been running up on the downward escalator for over ten years now... Not where I am they're not. Quote Link to post Share on other sites
shindigger Posted August 17, 2016 Report Share Posted August 17, 2016 ***** Quote Link to post Share on other sites
billybong Posted August 17, 2016 Report Share Posted August 17, 2016 (edited) A seamless change in power form Cameron/Osborne to May/Hammond - along with keeping Carney. Of course like the others in power before him Cameron always knew it would be seamless when he resigned it's what British politics/the LibLabCon/the Boe (the economy wreckers) is all about. Expect the delays to Britain properly leaving the eu to be performed in a pretty seamless manner as well all helping towards the decline of Britain and the under performance of the British economy - along with lower real standards of living and quality of life. Edited August 17, 2016 by billybong Quote Link to post Share on other sites
Bruce Banner Posted August 17, 2016 Report Share Posted August 17, 2016 A seamless change in power form Cameron/Osborne to May/Hammond - along with keeping Carney. Of course like the others in power before him Cameron always knew it would be seamless when he resigned it's what British politics/the LibLabCon/the Boe (the wreckers) is all about. Expect the delays to Britain properly leaving the eu to be performed in a pretty seamless manner as well all helping towards the decline of Britain and the under performance of the British economy. It looks like it, doesn't it. Here's hoping Corbyn keeps control of Labour, if he does I'll be voting for him next time just to upset the apple cart. And yes, I am annoyed enough to cut off my nose to spite my face. Quote Link to post Share on other sites
John The Pessimist Posted August 17, 2016 Report Share Posted August 17, 2016 This is designed to pass on the reduced costs of borrowing just like they did with the BoE base rate cut. Except they didn't..... http://www.telegraph.co.uk/news/2016/08/16/first-time-buyers-punished-as-uks-biggest-lenders-sneakily-raise/ I'm beginning to get really annoyed by these self serving [email protected] in high office and their 'attempts to help'* *help their buddies Quote Link to post Share on other sites
billybong Posted August 17, 2016 Report Share Posted August 17, 2016 It looks like it, doesn't it. Here's hoping Corbyn keeps control of Labour, if he does I'll be voting for him next time just to upset the apple cart. And yes, I am annoyed enough to cut off my nose to spite my face. +1 Quote Link to post Share on other sites
irrationalactor Posted August 17, 2016 Report Share Posted August 17, 2016 What are they actually trying to achieve with this type of economic policy? What do they actually want the economy to look like in 20 years? Or even in 5? Do they even know? Quote Link to post Share on other sites
Maynardgravy Posted August 17, 2016 Report Share Posted August 17, 2016 What are they actually trying to achieve with this type of economic policy? What do they actually want the economy to look like in 20 years? Or even in 5? Do they even know? Quote Link to post Share on other sites
TheCountOfNowhere Posted August 18, 2016 Report Share Posted August 18, 2016 (edited) This is designed to pass on the reduced costs of borrowing just like they did with the BoE base rate cut. Except they didn't..... http://www.telegraph.co.uk/news/2016/08/16/first-time-buyers-punished-as-uks-biggest-lenders-sneakily-raise/ I'm beginning to get really annoyed by these self serving [email protected] in high office and their 'attempts to help'* *help their buddies I've been thinking about this whole low IRs/Money printing/QE/FLS/HTB madness. HTB/FLS pushed up house prices in London, then the SE, then the shires ( soon the whole country ). The asking prices are beyond any insanity I saw in 2007 now. There are no forced sellers, none. The BTLers are all living the life of Riley AKAIKS We now have HTB 40% and FLS2 which is designed to force the banks to offer lower rate mortgages just to access the money,. All the FLS really is just money for mortgages, probably BTL mortgages. It's looking more and more likely savers see no point in saving. People up and down the country have bought into this "new paradigm" ( or fraud as I call it ), I've slowly watched their joy as they realise their house is now worth 2007+50%, seemingly not realizing the consequence for their children. The MSM and Government are fully behind this "free market" and prices will keep expanding to meet these new lower IRs and the banks will keep lending to people who wont be able to pay it back ( BTL IO Mortgage types ). There is no one in government ( not even Corbyn ) who is talking about the real problem. The central bankers are now talking Helicopter money...which is nothign more that inflation causing theft. The first sign of any trouble/excuse/possible inability they printed more money and lowered rates. The banking system is dysfunctional, they are using central bank magic money rather than any credible sort of earned money as their basis for lending, hence why we've seen massive house price inflation. The big chain EAs are all owned by bankers/financiers, I'd wager they are behind the massive increase in asking prices. Who's buying into this...the people accessing the magic free money. Will it stop...no....not until something collapses or the people wake up. Will the people wake up. Unlikely. Will something collapse...the banks are already collapsed, all that is left is the government./currency. Will be BrExit...will we ****. An actual socialist government might actually collapse the market but Labour are nothing more than BTL owning middle class tories pretending to have a conscience. Let's face it folk, the BrExit vote was out last chance they are prepared to throw everything at keeping their house prices up, at least the sham of democracy has been exposed which might ultimately cause the collapse. We shoulda all bought a house the day they lowered rates to 0% a sure sign the banks were screwed and they were willing to do anything to support them. Should you buy a house...no. Leave the UK. Edited August 18, 2016 by TheCountOfNowhere Quote Link to post Share on other sites
winkie Posted August 18, 2016 Report Share Posted August 18, 2016 Yes it's a strange economic model that says; The average house earns more per year than the average worker. The government provides free cash so people can buy houses they can't afford to buy. For many it makes no sense to work more than 16 hours per week because of tax credits. A normal employee (ie not a reitred filler-in or pin-money mum) is not guaranteed any hours of work. Savings and pensions will not generate any meaningful returns. If the government / banks need more cash they just print a few hundred billion. I suppose there must be some logic behind this other than making the 1% richer, surely? ....post of the day.....there is a solution spend, spend, spend money you have got, and also money you haven't got...if you need more borrow it from the future if you can.....if can no longer pay for it there are plenty of ways to no longer pay it back....wait a while and borrow some more..... Quote Link to post Share on other sites
TheCountOfNowhere Posted August 18, 2016 Report Share Posted August 18, 2016 ....post of the day.....there is a solution spend, spend, spend money you have got, and also money you haven't got...if you need more borrow it from the future if you can.....if can no longer pay for it there are plenty of ways to no longer pay it back....wait a while and borrow some more..... I'll tweet that one... Quote Link to post Share on other sites
TheCountOfNowhere Posted August 18, 2016 Report Share Posted August 18, 2016 HousePriceMania @HousePriceMania 13m13 minutes agoLuton, England @bankofengland @theresa_may @PHammondMP @D_Blanchflower Maybe someone can explain this to the 99% Quote Link to post Share on other sites
TheCountOfNowhere Posted August 18, 2016 Report Share Posted August 18, 2016 Im expecting a knock on the door or my car brakes failing any day now.... Quote Link to post Share on other sites
Maynardgravy Posted August 18, 2016 Report Share Posted August 18, 2016 Im expecting a knock on the door or my car brakes failing any day now.... Check the colour of the sticker on your mailbox: http://www.snopes.com/politics/conspiracy/femastickers.asp Quote Link to post Share on other sites
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