Bank of England Madness

[Cyclone]

Yes I know they want people to spend and not save. As the thread title says, madness.

 

Because if everyone stopped spending that would definitely boost the economy...

 

---------- Post added 07-08-2016 at 21:42 ----------

 

The economy will always have it's ups and downs ..but we have control of our country again . I would pay £1000 billion for that .

 

Hahahhaha, you're like the epitome of a leave voter aren't you. Except you haven't realised that whilst trashing the country with your vote, we've got no more control than we ever did.

You're why the country is screwed for the next 2 decades.

[I1L2T3]

Because if everyone stopped spending that would definitely boost the economy...

 

You can't tell folks to stop pension savings, or saving for the future of their kids.

 

Or maybe you can. Are you going to stop saving for your pension Cyclone?

[Cyclone]

You can't tell folks to stop pension savings, or saving for the future of their kids.

 

Or maybe you can. Are you going to stop saving for your pension Cyclone?

 

Do reductions in interest rates have any impact on pension saving levels? I suspect not, and I suspect that you already knew that.

 

You know that interest rates have a direct impact on saving though, so why the obtuse comment about pensions?

[I1L2T3]

Do reductions in interest rates have any impact on pension saving levels? I suspect not, and I suspect that you already knew that.

 

You know that interest rates have a direct impact on saving though, so why the obtuse comment about pensions?

 

Pension savings are savings nonetheless. Are you going to stop saving for your pension? And spend the money instead. Or is that for others to do?

 

If you have kids are you going to stop saving for them?

[andyofborg]

Do reductions in interest rates have any impact on pension saving levels? I suspect not, and I suspect that you already knew that.

 

You know that interest rates have a direct impact on saving though, so why the obtuse comment about pensions?

 

i'm not so sure there isn't an impact, particularly for those in defined contribution schemes

 

the reduction in interest has seen the annuity rates plummet, which means you either need to save more to stand a chance of getting any sort of pension or stop saving all together because you feel there isn't any point.

[Brian Equato]

Because if everyone stopped spending that would definitely boost the economy...

 

---------- Post added 07-08-2016 at 21:42 ----------

 

 

Hahahhaha, you're like the epitome of a leave voter aren't you. Except you haven't realised that whilst trashing the country with your vote, we've got no more control than we ever did.

You're why the country is screwed for the next 2 decades.

 

I know, if only we'd been in the Euro like Greece eh!

[Cyclone]

Pension savings are savings nonetheless. Are you going to stop saving for your pension? And spend the money instead. Or is that for others to do?

 

If you have kids are you going to stop saving for them?

 

I think you're missing the point by asking what I'm going to do. Interest rate policies are about how it affects groups of people. And we all know that reduced interest rates will decrease saving.

Pensions are irrelevant to this discussion, the only reason you've raised them appears to be to muddy the water or to try to prove how clever you are.

 

The fact is that interest rate levels directly affect saving. Are you disputing that?

 

---------- Post added 08-08-2016 at 09:20 ----------

 

I know, if only we'd been in the Euro like Greece eh!

 

What?

This is the sort of logic that leave voters use.

We've been set on a self destruct course by mass ignorance and stupidity.

 

Have a read.

 

https://tompride.wordpress.com/2016/08/03/the-brexit-vote-wasnt-democracy-in-action-it-was-populist-ignorance-on-a-grand-scale/

 

---------- Post added 08-08-2016 at 09:21 ----------

 

i'm not so sure there isn't an impact, particularly for those in defined contribution schemes

 

the reduction in interest has seen the annuity rates plummet, which means you either need to save more to stand a chance of getting any sort of pension or stop saving all together because you feel there isn't any point.

 

True, it has a direct effect on the outcome of previous pension saving.

But AFAIK it has no impact on pension saving levels, which is what I1L2T3 is repeatedly bringing up, as if it were relevant.

[truman]

i'm not so sure there isn't an impact, particularly for those in defined contribution schemes

 

the reduction in interest has seen the annuity rates plummet, which means you either need to save more to stand a chance of getting any sort of pension or stop saving all together because you feel there isn't any point.

 

You don't have to buy an annuity now...your pension pot is just that ..yours...no need to hand it over to an insurance company so that they can give you the crumbs..

[spilldig]

Because if everyone stopped spending that would definitely boost the economy...

 

---------- Post added 07-08-2016 at 21:42 ----------

 

 

Hahahhaha, you're like the epitome of a leave voter aren't you. Except you haven't realised that whilst trashing the country with your vote, we've got no more control than we ever did.

You're why the country is screwed for the next 2 decades.

 

I would say they are spending enough now, the amount of debt people are in. To encourage people into even more debt really does cause you to scratch your head to make sense of it.

[Cyclone]

What will happen to the economy if people are encouraged to save instead?