and all commentators say "they should be cut".

Why?

I like interest rates to be as high as possible - then my money earns for me.

Mortgages - why?

I bought my house because I'd earned that money from Everyone's Gone To The Moon.
I didn't want to buy something I could not afford.

I simply don't understand the socially acceptable habit to live in debt and constantly have to pay back loans.

It doesn't make sense.

I've always earned and then paid, from DAY ONE when I worked in a supermarket stacking shelves so I could pay for my first demo (with the Ted Taylor Five that got me a session with Joe Meek)

Isn't that the way to live?

Royalties from Moon enabled me to pay to make It's Good News Week, get a large royalty, own the copyright which earns money to this day.

Never borrow, never lend, never owe.

Micawber, where are you when they need you?

JK2006 wrote:

I like interest rates to be as high as possible - then my money earns for me
So do I but we're being selfish.

I have no sympathy for stupid people getting into ridiculous debt on credit cards to satisfy their material lust, but mortgages aren't quite the same, are they? Not many people can wander into their local Estate Agents and pay for a house in cash.

Such a tremendous influence on us all.



What happened ?

You are in the small minority thinking along those lines JK.

High interest rates don't mean anything if there is inflation.

This thread just shows how out of touch jk is with the average man on the street. Most of us can barely afford a mortgage, let alone buy a house in cash. Anyhow things were a lot different in 1965 then they are now. The royalties from 'Gone to the Moon' probably wouldn't buy you a studio flat in London, let alone a house. So while high interest rates might make the mega-rich even richer but for the majority of us it is very bad news.

True - it's fine for someone to say this if they have had hit records and were able to buy their house outright from this success. Most of us, even if we are well paid and work hard, have to at least have a mortgage unless we want to live with our parents for years whilst we save up for a house or throw money away renting.
The problem with this country - and you see less of this in Germany or France - is that the middle classes seem to have a 'Keeping up with the Jones' mentality.
It's no wonder people get into terrible debt if they have to have a new Mercedes every 3 years or the latest gadgets or fashions.

No Robbie and Foz, whilst the royalties and the hit were nice and made a huge change in my life, I certainly would never have gotten into the "borrow/lend/mortgage" madness whatever. I'd have bought or rented a tiny flat and built from there.

Remember I just spent three and a half very happy years in one small room (cell) on earnings of

..and if you get divorced an remarry , try to not to coincide the divorce along with your new partners one!

Yes but you weren't paying for your bed and board every week. We were.

Another problem with society - spend millions to get a miscarriage of justice; then millions more in board and lodging for innocent people; then millions in compensation when they are (some of them) eventually acquitted - and you think I'M the one on the wrong track???

This thread clearly shows the JK smugness which - in his egotistical brain - transcends all else. Newspapers tomorrow JK.... ?....yawn:dry:

You are an out of touch twat, JK.

Now your going off the track.

I have to admit I'm in a minority - the majority clearly do believe there is nothing wrong in living beyond one's means.

Borrow to live - house, car, school fees, divorce - and then work to pay off debt.

It is just not the way I choose to live and I have to say - for me it makes sense to live at whatever level you can afford and to work at what you enjoy doing.

But if others choose a different existence - that's fine.

I think it really depends on the kind of borrowing. A mortgage is pretty normal as a house is for long term and the repayments on a good mortgage should not be beyond your means. However borrowing for school fees? No - if you cant afford them don't send the kids there. Interest free credit for a

Living a single life, all you're life clearly has its benefits.