Tradescanthia Posted April 29, 2012 Share Posted April 29, 2012 Not much change for us. What is hitting us a little is inflation but with fairly stagnant incomes. Pay just isn't keeping up with inflation, eroding our expendible income. We are the same, semi retired due to health. Part time work plus pensions drawn early to supplement income. Main probs are inflation of food prices, petrol and gas/electricity. Luxuries are getting cheaper, clothes shoes etc and I have had some real discounts on optical/photographic gear. I have the funds to wipe out the mortgage should interest rates rise, I have the old variable rate mortgage and currently I get more interest on my savings than I pay in mortgage interest, which is currently only 1.5%. Its young families I feel sorry for, struggling to keep a job, bring up kids, hang onto what they have worked hard for. But....I reckon it was harder in the 70's when we had a massive recession and Maggie was punishing South Yorkshire for being a Labour stronghold and she was making a bad situation worse. Her answer to recession was to increase interest rates........The old bat was eventually sussed out as a loony by her own party... Link to comment Share on other sites More sharing options...
Cyclone Posted April 29, 2012 Share Posted April 29, 2012 The interest rate rises in the period you're referring to were to control the massive inflation problem that was occurring. We don't have that this time, although it's still higher than we'd like. Link to comment Share on other sites More sharing options...
Tradescanthia Posted April 29, 2012 Share Posted April 29, 2012 The interest rate rises in the period you're referring to were to control the massive inflation problem that was occurring. We don't have that this time, although it's still higher than we'd like. The rates set, to quote from her own words were 'to protect those who have SAVED'. Her policies were inflationary. Notice the same situation hasn't occured since she went. I was hit by 15% mortgage rate. My business mortgage was even worse at 17%. The rich got richer.......... Link to comment Share on other sites More sharing options...
Cyclone Posted April 29, 2012 Share Posted April 29, 2012 To protect those who had saved from the massive inflation that was occurring. Link to comment Share on other sites More sharing options...
MrSmith Posted April 29, 2012 Share Posted April 29, 2012 The rates set, to quote from her own words were 'to protect those who have SAVED'. Her policies were inflationary. Notice the same situation hasn't occured since she went. I was hit by 15% mortgage rate. My business mortgage was even worse at 17%. The rich got richer.......... What I find annoying is that I paid 15% mortgage rate and now I don't have a mortgage I get a measly 2% interest. Interest rates at 15% would suit me fine. Link to comment Share on other sites More sharing options...
MrSmith Posted April 29, 2012 Share Posted April 29, 2012 This recession was created by the rich for the benefit of the rich. This government will ensure that they come out of it smiling as Cameron is scum. How does a rich person benefit from a recession and low interest rates? Link to comment Share on other sites More sharing options...
Tradescanthia Posted April 29, 2012 Share Posted April 29, 2012 To protect those who had saved from the massive inflation that was occurring. Funny how Maggies way of fighting inflation benefitted the rich............... But thats Torys for you...... Link to comment Share on other sites More sharing options...
Anna B Posted April 29, 2012 Share Posted April 29, 2012 True, but surely the 'fault' here lies with the person who buys things without planning and uses so much credit without thinking about the potential down sides... That sounds difficult, are there no provisions to help people through the transition from benefits to work? Not that I know of. Another problem is that the benefits system can't cope with short term contract working. Each time you sign off for a short term contract, then back on again when it's finished you have to start your claim from scratch again, even if it's only a couple of weeks later. Then it can take 6 weeks or more before benefits are reinstated. Do that a couple of times and you're up to your neck in debt before you know it. That's one of the reasons why a lot of job vacancies go unfilled. And an awful lot of jobs are short term these days. Even if they're stated as permanent there's a 1 month or 3 month trial period which some employers exploit. Link to comment Share on other sites More sharing options...
medusa Posted April 29, 2012 Share Posted April 29, 2012 True, but surely the 'fault' here lies with the person who buys things without planning and uses so much credit without thinking about the potential down sides... I'm not stating that the lack of planning is right, just that I understand the issues and I understand that a sudden fall from everything being fine and dandy to having no money to make ends meet can bring different issues than a chronic ongoing money shortage and the system seems to recognise one sort of poverty without acknowledging the other. That sounds difficult, are there no provisions to help people through the transition from benefits to work? Apparently not. Crisis loans and the like are only available to those who would qualify for other help and because we were honest about our circumstances we didn't qualify for anything. My private pension is really great and it's a lovely thing that I prepared for my own illness etc, but it doesn't pay me enough to properly live on and it means that I don't qualify for any other help with anything at all, not even free prescriptions or a reduction in my council tax. We now SHOULD have received his full pay packet for this month, but yet again they have screwed it up and so we're only getting half of what we should be seeing, so the pain with planning goes on for another month and some of the shifts he worked at the end of February aren't going to be paid until the end of May, which (quite honestly) stinks. Link to comment Share on other sites More sharing options...
southcoast Posted April 29, 2012 Share Posted April 29, 2012 Have to say you are very consistent with your posts,always wanting to know what people think,are you employed by a marketing company .or maybe you need to get a life lol Link to comment Share on other sites More sharing options...
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