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Topic History of: 83% cut in income for savers
Max. showing the last 5 posts - (Last post first)

Author	Message
robbiex	jk, You say that there are 7 times more savers than debtors. If merely having a mortgage makes you a debtor, than I would dispute that 7 times figure. I'm sure that more than 1/7th of the population has a mortgage, therefore that would make it impossible. Most people can't plump up £200,000 for the average house, as the average salary for a graduate is < £30,000.
JK2006	Ah but Robbie there are seven times more savers than debtors - and we see less and less attention paid to us.
robbiex	Many people, like myself who have faced redundancy this year are very glad of the mortgage rate decreases. It means that we have that little bit longer to last on our savings before having to worry about our houses being repossessed.
BR	The savers have been hit by a 83% cut in income from savers in the last 6 months. This means that the banks hold on to more money - but less money is spent in the Real World Economy - leading to more companies going under and more unrest and gloom. Interest rate raises work when the economy is thriving to slow demand. They never really work as an incentive to spend when it is a recession. Any money over is spent on reducing debt. Savers such as pensioners could well be leading the SUMMER OF RAGE - I can see ZIMMER FRAMED OAPS taking to the streets waving walking sticks now they are basically all been bankrupted by this government.