Are You A Angry Saver?

Martinslovechild

Quite correct.

Accepting responsibility means taking a regular interest in our own financial futures. It's no good simply buying a few fixed-rate bonds and assuming that the responsibility ends there.

Because interest rates have fallen so heavily in the past 6 months, there is a requirement to constantly reassess and make changes if necessary to our finances.

Think everybody's been making no money in the past 6 months? Here's a link to Exchange-Traded Commodities showing growth over the past 6 months.

http://www.selftrade.co.uk/market-data/etcs/etc-list.php?history_change=6%20mths&sortby=changeover

Had anybody shorted any one of 26 different commodities listed, they would have made a minimum 20% gain over just 6 months, with a potential gain of 135% shorting crude oil.

There are more ways than bank accounts of making money. It's time to lift the blinkers.

lostinrates

Martinslovechild wrote: »

Quite correct.

Accepting responsibility means taking a regular interest in our own financial futures. It's no good simply buying a few fixed-rate bonds and assuming that the responsibility ends there.

Because interest rates have fallen so heavily in the past 6 months, there is a requirement to constantly reassess and make changes if necessary to our finances.

Think everybody's been making no money in the past 6 months? Here's a link to Exchange-Traded Commodities showing growth over the past 6 months.

http://www.selftrade.co.uk/market-data/etcs/etc-list.php?history_change=6%20mths&sortby=changeover

Had anybody shorted any one of 26 different commodities listed, they would have made a minimum 20% gain over just 6 months, with a potential gain of 135% shorting crude oil.

There are more ways than bank accounts of making money. It's time to lift the blinkers.

I think this makes an assumption that all those prepared to be prudent have sophisticated understabnding, or the ability to have sophisticated understanding, of quite complicated matters.

If the industries concerned have failed it strikes me that Mr Avergae but interested is likely too aswell, despite his attempts to stay informed and prudent.

ETA: I personally find it hard to keep abreast of whats 'best'. Savings, taxes, most beneficial ways of doing things complicate issues. I just want to clarify I'm not saying other people are too stupid, but rather that I might be.

geoffky

cant be bothered to reply to the crap

Cannon_Fodder

Martinslovechild wrote: »

The only real change is the one that you yourself can make...

...There are many factors combined which come into play.

Firstly (and most importantly) - Demographics.
Secondly, China.
Thirdly, Global Monetary Policy.

also...Had anybody shorted any one of 26 different commodities listed, they would have made a minimum 20% gain over just 6 months, with a potential gain of 135% shorting crude oil.

There are more ways than bank accounts of making money. It's time to lift the blinkers

How can anyone one individual influence/counter these factors?

All those individuals who did look at their options, went for a prudent, sensible strategy that did not take UNDUE risk with their future, are now being punished for the actions of those who DID take UNDUE risk with their and other people's money.


And on the commodities; get real.

You seriously expect ordinary pensioners and low level savers to take their hard-earnt and prudently established funds and throw them like dice at a roulette wheel...any 30% or 100% gain could equally be a 30% or 100% loss in the next 6 months.

That is EXACTLY why we are where we are now. Too many risks.

Sir_Humphrey

Are these loons for real?

treliac

I'm angry that this morning my daughter, who has no job and is in the process of clocking up huge student debt over which she has no choice if she wants to make a future for herself, has received an 'invitation' from Barclays to borrow more than £4,000.

An invitation seductively dressed up as a cheque for the amount written out in her name, accompanied by a cosy picture of a boiled egg and toast soldiers ( ) with the slogan, "Apply for your Barclayloan at breakfast."

Absolutely disgraceful. :mad:

Old_Slaphead

Sir_Humphrey wrote: »

Are these loons for real?

Dunno mate - I'm not sure whether all this isn't just a figment of my imagination.

Just off now to check how many outstanding contracts me Aunt Mabel's got on 2010 Chinese Pork Bellies.

cocktail

treliac wrote: »

I'm angry that this morning my daughter, who has no job and is in the process of clocking up huge student debt over which she has no choice if she wants to make a future for herself, has received an 'invitation' from Barclays to borrow more than £4,000.

An invitation seductively dressed up as a cheque for the amount written out in her name, accompanied by a cosy picture of a boiled egg and toast soldiers ( ) with the slogan, "Apply for your Barclayloan at breakfast."

Absolutely disgraceful. :mad:

i agree with the sentiment. but thats what goes with capitalism, u got to sell.
now if ur daughter is foolish enough to grab this loan then she is just contributing to the massive debt hole. if she works to pay it back well and good but if she choses to go bankrupt years down the line.......there are plenty of savers or taxpayers(muppets) who would pick up the tab.

kabayiri

Actually, if all the pensioner army mobilized and stuck all their savings with one financial institution it would create quite a substantial ripple in the financial press.

It's likely to be too big a logistic exercise to ever happen of course.

But, if they are planning on this, might I suggest the Credit Union in my nearest city? .....they are ever so nice

treliac

cocktail wrote: »

i agree with the sentiment. but thats what goes with capitalism, u got to sell.
now if ur daughter is foolish enough to grab this loan then she is just contributing to the massive debt hole. if she works to pay it back well and good but if she choses to go bankrupt years down the line.......there are plenty of savers or taxpayers(muppets) who would pick up the tab.

Fortunately she's pretty savvy with her finances. She's absorbed the advice she's been given. She likes to know how and where she stands with her money. She doesn't like the idea of having to worry about how to pay off credit cards etc. so she budgets for everything and is proud of how she manages.

However, I suspect (and she sees the evidence) that a great many young people don't have that outlook, are happy to live for today and either don't have the financial intellect or are willing to put their heads in the sand. Quite like the government in fact!

I despise the blatant encouragement of young people to get themselves further into debt, especially in the present economic climate. It seems completely unethical and exploitative. And why, when creditworthy businesses etc. can't get credit, would Barclays, or any bank, want to encourage the deeper indebtedness of young people who aren't in a position to repay it at all.