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Topic History of: Please raise interest rates!
Max. showing the last 5 posts - (Last post first)

Author	Message
marxist hedda	the folly of both above who believe in some of the evils and scams of capitalism : interest and the share market my father was a banker. When he got very old he would talk at great length about the evil of banks and the system- institutionalised theft- he became fascinated by the "Sharia compliant finance ". as Cameron fuels another round of house speculation with home "grants" (more welfare that oddly the ITKs of the world never condemn) - with a rise in interest rates of course you impose misery on a generation of home buyers. They did it here in Oz for decades and subsequently house prices are ludicrously high. My flat purchased (outright- I never buy on credit) for $40K 20 years ago is worth over a million. but to sell it (and lose my gorgeous views of the harbour and the vomiting backpackers of Kings Cross), I could only purchase similar in the suburbs. Of course people believe they can 'live on interest " in their old age ( I never did), but that's lunacy as you put your life into the hands of The City or Wall Street- laden as they are with rogues and speculators. More fool you I say.
In The Know	Know how you feel, JK There are millions of pensioners who saved for their retirement, and now have little income (by way of interest) to live on. WHEN the rates do rise there will be a desperate situation for the many who bought what they could not afford in the golden days of Labour's loony la-la never-never land !
JK2006	I've never been able to work out this enthusiasm for tiny interest rates. Live within your means. It makes sense. Decades ago I worked out how to exist in old age on interest from my savings. Turned out to be bollocks.