lesterman Posted October 12, 2011 Share Posted October 12, 2011 There is the question of what will happen to those people. But there is also the question of why they are in that situation to begin with. Is it morally right for the rest of the economy to be damaged to prop up irresponsible borrowers? If we're honest they are the key reason why rates are supressed. Yet if rates rise significantly house prices will plummet and older people would lose out that way. We are in unchartered waters. Our economy. like the economy of many other countries is on the edge of a precipice . It did not take cameron long to create that mess did it! Link to comment Share on other sites More sharing options...
I1L2T3 Posted October 12, 2011 Author Share Posted October 12, 2011 Yet if rates rise significantly house prices will plummet and older people would lose out that way. We are in unchartered waters. Our economy. like the economy of many other countries is on the edge of a precipice . It did not take cameron long to create that mess did it! To be fair it's not just Cameron. The economy has not been run properly since the early 1970s. All the main parties have now had a go at shafting us. Link to comment Share on other sites More sharing options...
MrSmith Posted October 12, 2011 Share Posted October 12, 2011 Interest rates have been ultra low for years now, how the hell can the tories claim credit for it? At the same time inflation is high, growth is low, and unemployment is up. You sound like having low interest rates is something to be proud of, I will give all the credit to Labour, low interest rates mean we are up poo creek, they haven’t helped Japan and they won't help us. We have a long period of zero growth and a drop in living standards or we bight the bullet and let the crash happen. Link to comment Share on other sites More sharing options...
lesterman Posted October 12, 2011 Share Posted October 12, 2011 To be fair it's not just Cameron. The economy has not been run properly since the early 1970s. All the main parties have now had a go at shafting us. The real problem is that they have all succeeded. and still are. Link to comment Share on other sites More sharing options...
I1L2T3 Posted October 12, 2011 Author Share Posted October 12, 2011 Interest rates have been ultra low for years now, how the hell can the tories claim credit for it? At the same time inflation is high, growth is low, and unemployment is up. I remember slightly doom-laden articles in the papers when rates hit 4% about 7-8 years ago. Even at 4% they were the lowest since the 1960s. Link to comment Share on other sites More sharing options...
MrSmith Posted October 12, 2011 Share Posted October 12, 2011 Yet if rates rise significantly house prices will plummet and older people would lose out that way. We are in unchartered waters. Our economy. like the economy of many other countries is on the edge of a precipice . It did not take cameron long to create that mess did it! How would old people suffer if their house fell in value? And Cameron didn't create the mess. Link to comment Share on other sites More sharing options...
I1L2T3 Posted October 12, 2011 Author Share Posted October 12, 2011 You sound like having low interest rates is something to be proud of, I will give all the credit to Labour, low interest rates mean we are up poo creek, they haven’t helped Japan and they won't help us. We have a long period of zero growth and a drop in living standards or we bight the bullet and let the crash happen. I'm with you MrSmith. We need a correction. Firstly to unwind all the high asset prices. Secondly to put the fear of god into people who consider getting overstretched in the future - tough love. Thirdly because the banks have to be punished too for their part in this. Link to comment Share on other sites More sharing options...
lesterman Posted October 12, 2011 Share Posted October 12, 2011 How would old people suffer if their house fell in value? And Cameron didn't create the mess. I said older people. They would suffer if they wish to sell up as they would not get as much for their property. Also Cameron has had a long time to sort out the mess now but has just made things worse. He is a grossly incompetent "daddy bought me this, daddy bought me that" type. Link to comment Share on other sites More sharing options...
MrSmith Posted October 12, 2011 Share Posted October 12, 2011 I'm with you MrSmith. We need a correction. Firstly to unwind all the high asset prices. Secondly to put the fear of god into people who consider getting overstretched in the future - tough love. Thirdly because the banks have to be punished too for their part in this. And then we can put your plans into action and have very steady sustainable growth. Link to comment Share on other sites More sharing options...
lesterman Posted October 12, 2011 Share Posted October 12, 2011 I'm with you MrSmith. We need a correction. Firstly to unwind all the high asset prices. Secondly to put the fear of god into people who consider getting overstretched in the future - tough love. Thirdly because the banks have to be punished too for their part in this. Nobody dare try to punish the banks. The banks are the true rulers. Link to comment Share on other sites More sharing options...
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