NuBrit Posted June 30, 2017 Share Posted June 30, 2017 Credit growing, savings down. Looks like the wheels are finally starting to fall off here. Quote Link to comment Share on other sites More sharing options...
ThoughtCriminal Posted June 30, 2017 Share Posted June 30, 2017 3 minutes ago, NuBrit said: Credit growing, savings down. Looks like the wheels are finally starting to fall off here. It definitely seems like a perfect storm is gathering. Debt at record levels, savings at record lows, wages flatlining. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted June 30, 2017 Share Posted June 30, 2017 If only there was something they could do to incentivise more saving... Quote Link to comment Share on other sites More sharing options...
ThoughtCriminal Posted June 30, 2017 Share Posted June 30, 2017 27 minutes ago, rantnrave said: If only there was something they could do to incentivise more saving... Well the greatest minds in the world have tried and failed to solve that impossible task, but if you think you can do better.... (Sarcasm off). Quote Link to comment Share on other sites More sharing options...
winkie Posted June 30, 2017 Share Posted June 30, 2017 33 minutes ago, rantnrave said: If only there was something they could do to incentivise more saving... I think more people should start saving to buy a house....they would be mad not to. Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted June 30, 2017 Share Posted June 30, 2017 All the signals seemed to have been flashing red for the last 9 years, yet things still trundle on. I just hope for the younger generations there's a big crash. Quote Link to comment Share on other sites More sharing options...
Errol Posted June 30, 2017 Share Posted June 30, 2017 Perhaps they are all saving in something that is not measurable through stats ... Quote Link to comment Share on other sites More sharing options...
winkie Posted June 30, 2017 Share Posted June 30, 2017 2 minutes ago, Errol said: Perhaps they are all saving in something that is not measurable through stats ... Yeah, wisdom hopefully. Quote Link to comment Share on other sites More sharing options...
Barnsey Posted June 30, 2017 Share Posted June 30, 2017 Why save when either: 1. Your house is earning more than you can 2. Buying a house is such a distant dream you may as well live in the moment, f-it Quote Link to comment Share on other sites More sharing options...
durhamborn Posted June 30, 2017 Share Posted June 30, 2017 12 million people get means tested benefits.No point saving.You lose them.Companies dont care about productivity.Tax credits pay a big chunk of the wages.Why invest in expensive plant?. The rest?.Why save in cash when inflation is eating it away? (i actually think you should be in cash because a huge crash is coming) The BOE and bankers continue on their merry way. Quote Link to comment Share on other sites More sharing options...
Barnsey Posted June 30, 2017 Share Posted June 30, 2017 7% when the last crash hit down to below 2% now and falling, staggeringly bleak for many when the crash hits. Those defaults are going to occur much more rapidly than before with no emergency funds. Quote Link to comment Share on other sites More sharing options...
Panda Posted June 30, 2017 Share Posted June 30, 2017 http://www.independent.co.uk/news/business/news/ons-household-incomes-1970s-gdp-investment-services-a7815981.html Grim reading Quote Link to comment Share on other sites More sharing options...
canbuywontbuy Posted June 30, 2017 Share Posted June 30, 2017 (edited) 30 minutes ago, durhamborn said: (i actually think you should be in cash because a huge crash is coming) I respect your thoughts durhamborn - you do seem to know what you're talking about. I hope you're right here as I mainly have savings right now. I've developed a "learned helplessness" about investing along the years as every option looks fraught with danger. Edited June 30, 2017 by canbuywontbuy Quote Link to comment Share on other sites More sharing options...
VeryMeanReversion Posted June 30, 2017 Share Posted June 30, 2017 Due to SIPPs, I save nothing out of my net income but ~40% of my gross income. So what is my household savings ratio? Quote Link to comment Share on other sites More sharing options...
Monkey Posted June 30, 2017 Share Posted June 30, 2017 I'm using premium bonds for savings at the mo, all i need to do is win more than £25 (the lowest prize) per £1000 per year and i've beat all the high street savings accounts. Quote Link to comment Share on other sites More sharing options...
Barnsey Posted June 30, 2017 Share Posted June 30, 2017 35 minutes ago, Panda said: http://www.independent.co.uk/news/business/news/ons-household-incomes-1970s-gdp-investment-services-a7815981.html Grim reading Thanks for the article link. Hilarious when they forecast spending down just for the coming "months", erm, you're probably looking at many many years now unless a miracle boom occurs, or do they mean "96 months"? Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 30, 2017 Share Posted June 30, 2017 30 minutes ago, canbuywontbuy said: I respect your thoughts durhamborn - you do seem to know what you're talking about. I hope you're right here as I mainly have savings right now. I've developed a "learned helplessness" about investing along the years as every option looks fraught with danger. Cash does not have to be sterling! A Swiss bank account would have been a wise, low risk investment in 2008. Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 30, 2017 Share Posted June 30, 2017 1 hour ago, durhamborn said: 12 million people get means tested benefits.No point saving.You lose them.Companies dont care about productivity.Tax credits pay a big chunk of the wages.Why invest in expensive plant?. The rest?.Why save in cash when inflation is eating it away? (i actually think you should be in cash because a huge crash is coming) The BOE and bankers continue on their merry way. Yes. Thats 12m working age people get means tested benefits. And for the likes of that moron Corbyn, only 236,000 people earn over 150K. No need to save or work. Just get UKGOV to give you the money. What could go wrong? The UK's current tax base/benefits is woefully unbalanced. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted June 30, 2017 Share Posted June 30, 2017 Vague memories of the US saving rate turning negative in something like 2006 and media analysis that 'this can't go on without something giving'... Quote Link to comment Share on other sites More sharing options...
adarmo Posted June 30, 2017 Share Posted June 30, 2017 2 hours ago, Barnsey said: Why save when either: 1. Your house is earning more than you can 2. Buying a house is such a distant dream you may as well live in the moment, f-it pretty much! I guess if people are sitting on massive piles of unearned equity and have decent salaries nothing to stop a cheeky MEW to get a RangeRover or that house in Cornwall. If people are renting then Ricardian Economics suggests rents will just hoover up the surpluses. Quote Link to comment Share on other sites More sharing options...
janch Posted June 30, 2017 Share Posted June 30, 2017 I'm looking forward to having my cash earning handsomely when it all crashes, inflation ratchets up and they have to raise IRs......15% anyone? You never know......... or perhaps I'm dreaming Quote Link to comment Share on other sites More sharing options...
zugzwang Posted June 30, 2017 Share Posted June 30, 2017 (edited) 2 hours ago, canbuywontbuy said: I respect your thoughts durhamborn - you do seem to know what you're talking about. I hope you're right here as I mainly have savings right now. I've developed a "learned helplessness" about investing along the years as every option looks fraught with danger. Every option is potentially fraught with danger! Despite appearances to the contrary neither the bull-necked traders on CNBC, or the economists, or the world's central bankers have any idea what they're doing. Without an empirically sound scientific model of the economy and/or financial markets, how can they? Even the quant houses, stuffed with Phds in physics and computer science, are mostly guessing. Timidly extending Fisher Black's pioneering work in derivatives and hoping for the best. When the physicist Joseph Mccauley interviewed quants at Enron after its collapse in 2001 he was astonished to discover that almost none of them could provide him with a detailed description of the models they were using or their purpose. Impossible management demands for 'something... anything' that could be put before skeptical clients over-rode every other consideration. Edited June 30, 2017 by zugzwang Quote Link to comment Share on other sites More sharing options...
winkie Posted June 30, 2017 Share Posted June 30, 2017 (edited) Invest in something you have some partial control in/of and do not become solely reliant on......one blip, one energy failure, one crash....then it is gone, but life still goes on. A job is still a job until it is no longer a job, but jobs still and will still need doing......most jobs are not 'paid' jobs but they will always be work. Edited June 30, 2017 by winkie Quote Link to comment Share on other sites More sharing options...
Democorruptcy Posted June 30, 2017 Share Posted June 30, 2017 It's all going to plan, they cannot make you work until you drop, unless you have lots of debt. Cheap houses and living costs = more savings, retire earlier and then draw a state pension at a younger age High house prices and living costs = debt to service instead of savings, increase retirement age and have people working and paying taxes for longer. Quote Link to comment Share on other sites More sharing options...
winkie Posted June 30, 2017 Share Posted June 30, 2017 Quote Link to comment Share on other sites More sharing options...
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