The Bank of England are going to take this opportunity to increase interest rates.

What a pack of bounders they are.

Oh come now, we dont those average folk having a few quid to spend in primark and Aldi, and putting inflation up. We need to keep them down. What can we do? Lets put interest rates up now. That'll f uck them up.

I hate these capitalist c unts. They deserve incurable diseases.

I dislike the new Tenners, as much as the fivers. FACT

They can raise the interest rates as high as they want for me, might get some interest on me savings.

OK. Not sure why but here you are.

The vast majority of people don't have savings and live month by month.

And they spend whatever money they have to get through the month.

It's not about savings. It's about these people having even less money to survive on.

Whilst the filthy rich will get even richer thanks to an increased interest rate.

And that's a huge plus.

There are far more savers than borrowers

Why assume everyone in this area is poor ? Interest rates of 0.5 % and inflation running at 2% can only drag more people down ...

I would have expected that the poorest in society would not have mortgages, so the interest rate decision would have little impact on them.

It's the use of the phrase 'most people ' and ' vast majority ' that's wrong here ....

To have households with 2 workers feeling left behind is indeed a tardgedy , but the fact is more people who are homeowners have no mortgage outnumbers those that do and those who have savings outnumbers those who have debt ...if interest rates don't move up then those figures may well be reversed sooner or later ....

I'm no data expert , just pointing out that putting an opinion across as a fact ( colonel and not you ) is wrong ....

My impression is that interest rates are generally used to do two things - put a brake on spending if inflation gets a bit too high and shore up the value of the pound if it drops too low. As far as the government and the Bank of England are concerned, the impact on ordinary 'small' savers and borrowers is neither here nor there.

However, you can be sure that plenty of people in the city will fill their boots through currency dealing having been tipped off about any changes or delays in expected changes.

My opinion is just that. In the same way that yours is.

But it is a fact that most people live day by day month by month.

And the only winners when interest rates go up are those with too much f ucking money to start with.

It's been proven time after time that banks main interest is to protect themselves. They learnt nothing from the f uck ups they made a decade ago.

They are a bunch of bounders and that's a fact jack.

A 1% hike in interest rates would burden the average mortage payer £30 a month. They average saver will gain about 10p.

Like chip says we are all gping to pay fir Brexit even though nearly half of us thought it was f ucking stupid.

The other 51% should be forced to pay for it. That would reach the c nuts

There's lots of winners , ordinary folk many of them , if interest rates go up , you can't just keep saying only when it's simply not true ....

The point is if you're ordinary what do you win and lose. Interest rates go up and people on low to middle wages with mortgages really feel the difference, particularly in areas where house prices are high and they've borrowed all they can. The 30, 40 or 50 quid has to come from somewhere.

For most savers the same rate hike means virtually nothing, they have a few grand and end up 3,4 or 5 quid a month better off which makes no real difference to their lives. You could call them winners but its like a very small win at the bingo not a jackpot on the Euromillions.

Exactly.

And anyone who thinks that's a win must be one greedy bastard.

I watched the big short again yesterday which highlights better than any film I have seen how greed conquers all.

And how despite all the evidence the average homeowners got the blame and ultimately paid for it.

And within a year all the bankers got 6 figure bonuses.

Greed is good.

So a pensioner seeing the value of his life's savings being devalued by the dayv is a greedy so and so ?

What are you on about?

People with money in the bank are very very lucky these days. If they have 10k and leave it for 10 years it will still be 10k.

I know if I had a shit load of money in the bank, I wouldnt be getting stressed about it not earning me more.

I would thank my lucky stars.

On the point about the 51% it was in fact only 37% of the electorate so they should pay an even bigger propertion to compensate when the economy tanks. For those saying it's fine now we haven't left and people are cashing in on single market access and customs union with a 15% devalued pound while they can

And I agree The Big Short is an excellent fillum, people should be forced to watch it

I take it you read that before you posted it !

Nasty gap before your exclamation mark there kmc. I take it you proofed your contribution thoroughly before posting it?

My secretary is on her day off

She deserves more than one day.

Like you say, they vote tory and they voted for Brexit.

F uck em

I always leave a gap...it gets peoples attention !

These interest rate rises are a world wide issue. The Federal Reserve is the driver behind it as there is a sign of an upswing in the global economy and inflation as it eases back on QE. Unfortunately the UK economy is suffering due to the Brexit decision. It is universally agreed that the decision by 52% of the UK population is not in the best long term interest of the UK economy.

Ladies and Gentlemen please debate.

20 k invested in a 6 year Nationwide low risk shares/isa bonds paid out 29k last year..

First bite,well done sucker.

sold to me by a meek and pasty looking chap financial chap at our local branch several years ago after the cashier noticed i had a lot of cash in the worst accounts.
2 different bonds ,one for 8 ISA At the time? other 12 into at bond all into stocks..all via Standard life.
Just pure luck..

If the capital development development of a country become a by product of a casino then that job is likely to be ill done.

Well done Blackwell but its a bit the same as a visit to Coral.

So we've established Blackwell isn't living hand to mouth , nor chip and I'm not either , making colonels initial statement that the ' vast majority' are a bit silly ..... Not sure where to put this ! To be honest ...I'll do one more to be on the safe side !

You are not living hand to mouth. Well done.

The world is a much better place tonight.

All those people going to food banks will be sleeping easy tonight with that knowledge.

Everyone's world has just changed for the better.

Who needs a revolution now?

[quote="The Colonel"]You are not living hand to mouth. Well done.

The world is a much better place tonight.

All those people going to food banks will be sleeping easy tonight with that knowledge.

Everyone's world has just changed for the better.

Who needs a revolution now?[/quot




Some people are living hand to mouth ,yes , absolutely shocking in the 5th biggest economy . All of us who have to work for a living ARE living month to month , that's the world we are in .... To say the vast majority are living hand to mouth was just wrong . It's possible to be in work and have a pound more than you owe , I think you'll find that's where the ' vast majority ' can be found , and may well welcome a reversal of the interest rate policy of the last 8 years ...

You accuse me of talking nonsense, but having read this it tells me you didnt actually read the original post.

I stated that just when people have a few quid in their pockets to spend. Meaning the have a quid left over at the end of the month. So I agree most people do.

But a hike in interest rates means they wont. As their wages wont go up the same.

But hey, if they have a pound left over every month, the interest they will get on that will be what? At leat a penny I would imagine. I see where you are coming from. A penny on savings against £30 on mortgages, I see your point. Bring it on. Up the interest rate rises.

But as long as grumpy geedy old racist bastards are happier then so am I.

It's all smoke & mirrors. Interest rates may go a little bit higher, but Western governments can't allow them to go so high that the interest burden on their borrowing becomes even more untenable than it is already. They are all in hock & their financial systems are broken. They generated a period of historically low interest rates & they don't know how to reverse it. They were never able to control high inflation & now they've proved they can't control it when it's low, either.

If interest rate increases result in lower consumer spending, then their economies tip back into recession - if they ever got out of recession in the first place. Yet governments need inflation to reduce the true cost of their debts over time. The two are mutually exclusive unless they are going to introduce wage freezes whilst inflation takes off, which is probably about where we are, in reality.

As for the title of the thread - why spend the money if it's not really necessary? It may provide a temporary feel-good factor, but what long run benefit will it provide? We have been living beyond our means for decades, & pay-back time eventually comes around. If all the money has been spent, there's no contingency for emergencies

This is a very intellectually stimulating thread but surprised that no one has used the phrase "knuckledraggers" yet!

Economics is an art not a science so you take a punt at an economic model and hope it works!

Further proof, if proof is needed, that the economic system is broken:-

"For years, the message from financial planners has been to prioritise paying off your mortgage rather than building up savings, because savings rates were generally below mortgage rates. However, new data from Savings Champion shows that it is now possible to get a higher rate of interest on a five-year fixed rate bond than is paid on a five-year fixed rate mortgage. It points out that HSBC is currently offering a five-year fixed rate mortgage with an interest rate of 1.59% while the best five-year fixed rate bond is paying 2.35% with Paragon Bank.
There are fees to be taken into account and there are plenty of other reasons for wanting to pay off a mortgage early, but it shows a dilemma for savers."

http://www.yourmoney.com/saving-banking ... mdid=27741

But at least we got 'are' country back

Back from what, I don't really know, back to? Probably a kind of upstairs, downstairs era, we we definitely know our place and no mistake guv

Think you have that spot on.

Rather than being ran by fair minded Europeans we will revert back to being run by toffs Lords and landowners.

A lot of people like that though as thinking for themselves isn't in their make up.

They need to be told when to get up what time to eat who they are allowed to talk to and what time to go to bed.

And know their place and bow in front of their superiors.

Ah the good old days.

We should just hand the govt over lock stock and barrel to Brexiteers.

Good luck to them but Empire 2.0 just isn't going to happen.

And that will make it even easier for Labour to get in.

And god do we need something.

It gets more ridiculous by the day that so many people voted for such a stupid idea. Not as daft as allowing many of thicker ones a vote in the first place.

What with them and America dungeree wearing farmers boys voting for trump, it really is time for rights to be taken away from some people.

There are many similarities between the american deep south nutters and our racist lot.

World is mad, and its got nowt to do with the muslim nutters.

The problem with Labour is that although they have some good ideas, like all political parties they also have some fucking stupid ones too. And they’re all beset with idiots in too many senior positions.

And let's not forget the Labour hierarchy is for a hard Brexit as well, you can judge if it's for ideological reasons or opportunistic ones (i.e. best chance of getting power as economy collapses and they take over with an excuse to run a nationalist state on the breadline.

Either way it doesn't reflect well on Corbyn and his cronies that they are prepared for the economy to go down the pan to suit their aims

Even if they are opposed go Brexit, Labour are playing it really well. No resistance to it, so they can't be accused of ignoring the will of the people etc.

Then will be there to pick up the pieces of another Tory shambles, and start giving back to the people instead of the elite.

Mr Colonel, FFS, nobody is going to bite to your latest efforts. Your winding up techniques are becoming more amateurish and tedious by the minute. Arrange a proper meeting between yourself and your fellow remoaners and give us all something to get excited about.
Presently all you are doing is making us all laugh with your, and your hoppo's pathetic attempts, to get a response.
You are, I'm afraid, completely exposed.
Have a rest, go on holiday or do something that gives us an idea that perhaps you have a modicum of intelligence and can vary your incessantly boring contributions.

Ah the over 60's and their voting patterns the whole reason we're in this mess.

For all of his attempts at A1 twattery, The Colonel has it pretty much spot on when it comes to the current state of play

If anybody believes that the Tories will make this a more eligetarian society when we leave the EU, then they are stupid fucking not nice people, putting in bluntly, I mean this austerity bullishit wouldn't be a miss in a 1920's manifesto, but fuck that, ship them forrins out and it will be all cool

The complexity involved in international supply chains and customs agreements alone is going to bury the UK if we have a hard Brexit. All this about trading with the rest of the world sounds good. In reality the cost related to country of origin and specific standards/regulations in relation to manufacturing content makes it highly disadvantageous for small businesses. Large multinationals based in UK are here to trade and sell in single market via the customs union, they have manufacturing in rest of world to sell there.

Ultimately it's becoming very clear the long term impact on the economy is negatively significant, growth now slowest in Western economies despite being most buoyant pre Referendum, pound devalued by 15% and falling, inward investment planned in Uk on hold etc etc. Even the main Brexiteers now admitting that we are in for hard times which ultimately means more austerity and the 3 main non political backers of Leave (smart economist groups) have stated that the triggering of article 50 without a clear plan was the single most incompetent and destructive action taken by any post war government as it set the clock ticking to us leaving.

We're left with a political and social situation where people are sticking to Brexiteers votes because they genuinely believe the above is all a price worth paying to get back control and avoid control from the EU (and to control immigration which has also been proven to bring net worth to the U.K. Making us better off). I could list again a load of the laws from the EU which are designed to protect normal people (food standards, employment protection, clean beaches etc etc).

So sorry for my boring long winded Remoaner views as well. Remoaners have been accused of being unpatriotic I suppose it's a question of perspective, I happen to think the uk is much better off in the EU than out (despite the many faults of the eu) and I think that makes me patriotic.

Nobody is going to bite.

Apart from you that is.

And it's not a wind up to be right.

Just sticking to the facts.

Making an assumption here but I suppose you voted leave.

You tell your grand kids what a fucked up country you have left them with.

I am sure they will understand that sovereignty is all that matters.

That post didn't quite work.

Not sure how my posts are twattery like.

I speak only as I find.

There are loads of things I could be a twat about but I won't at the minute.