Thursday, March 7, 2013

Winners and losers of four years of record low base rate

The verdict on 4 years of Bank of England record low base rate

The Bank of England base rate has been at a record low of 0.50 per cent for four years now and in that time some people have benefitted and some have lost out.

Posted by ben @ 12:24 PM (1463 views)
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5 thoughts on “Winners and losers of four years of record low base rate

  • This is what bubbles caused by artificially low interest rates cause:


    LewRockwell.com Podcast #17 – Austrian Theory of the Business Cycle

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  • If anyone is feeling a bit glum, look up some of Rockwell’s missives on his website: The one called The Economics of Bethlehem is a scream from start to finish…. the bloke’s a real comedian, shame Libertas takes him seriously.

    Here’s a taste: “Once having found the Holy Family, what gifts did the Wise Men bring? Not soup and sandwiches, but “gold, frankincense, and myrrh.” These were the most rare items obtainable in that world in those times, and they must have commanded a very high market price.

    “Far from rejecting them as extravagant, the Holy Family accepted them as gifts worthy of the Divine Messiah. Neither is there a record that suggests that the Holy Family paid any capital gains tax on them, though such gifts vastly increased their net wealth. Hence, another lesson: there is nothing immoral about wealth; wealth is something to be valued, owned privately, given and exchanged.”

    http://www.lewrockwell.com/rockwell/bethlehem.html

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  • You will understand that the Bethlehem story was tongue in cheek humor, but for sure, Jesus was not handed dollar bills, he was given shiny chunks of GOLD.

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  • Libertas, it’s not written in a tongue-in-cheek manner, it’s clearly what this man believes and, strangely or not, is similar to some of the Biblical nonsense you spout on here to justify your “no taxation; no government” arguments.

    His website is full of similar nonsense.

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  • Libertas, it’s not written in a tongue-in-cheek manner, it’s clearly what this man believes and, strangely or not, is similar to some of the Biblical nonsense you spout on here to justify your “no taxation; no government” arguments.

    His website is full of similar nonsense.

    Reply
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