Are You A Angry Saver?

PasturesNew

harrythefurrysquid wrote: »

Let's be clear; this whole sorry saga was entirely predictable, and anyone who's genuinely getting no real interest on their savings at this point was either very unlucky or slept through the last year or so.

Or somebody who couldn't/daren't lock it up because they didn't know when it would be needed. My money is to buy a house, I didn't know back then when that would be, I still don't.

20:20 vision makes things look easy to decide.

If you have actual "savings", where you don't really need to get your hands on it, then you can lock it up... if you don't know, then you can't.

Cannon_Fodder

Martinslovechild wrote: »

'Prudent' & 'Sensible' normally result in mediocre returns. That's why people generally take risk.

You don't have to do anything that you're not comfortable with. If you can't stand the heat, get out of the kitchen. Just don't moan about the temperature.

People either through ignorance, laziness or choice DIDN'T go into the Kitchen, and are now getting burnt, ANYWAY.

If you cannot see that pensioners and others are vulnerable and should receive BASIC returns for being prudent, that speaks volumes.

Kez100

Although per previous post I do think savers have been given free insurance automatically at a time that they didn't know they needed it, it is terribly unfair that those in society that have been truly prudent are being shafted (although what matters is inflation - will deflation make savings worth more by the back door or will inflation continue to whittle savings away).

the thing is, so many are pensioners that if things improve they have no way of making more money to compensate as they will be on devalued fixed incomes.

I am so surprised people are not rioting. I really am.

I have heard so many calls in the past of votes of no confidence for things in the commons - never one as important as now - but no calls? are the opposition happy to be in opposition for 18 months, hoping to win when things are (let's hope beyond hope) on the up?

1echidna

Cannon_Fodder wrote: »

People either through ignorance, laziness or choice DIDN'T go into the Kitchen, and are now getting burnt, ANYWAY.

If you cannot see that pensioners and others are vulnerable and should receive BASIC returns for being prudent, that speaks volumes.

There is absolutely nothing new about savers losing out, it has happened time and time again in recessions over the past fifty years. This time it is not inflation but very low interest rates but the effect is exactly the same in reducing the real value of savings. Why the outrage that this is something new? It is NOT.

stevetodd

Kez100 wrote: »

I am so surprised people are not rioting. I really am.

Sorry I would have but I felt a bit tired today, but after reading your post I felt a bit guilty so threw my neighbours dustbin through his lounge window. Bizzarely when he asked me why I had done it and obviously I explained that you thought we should be rioting he didn't seem to understand (he seemed to think I was some sort of hooligan), gosh what a fool, still takes all sorts doesn't it.

Would you mind explaining it to him as I must confess I am not really sure why I was rioting I only took your word for it.

b0rker

stevetodd wrote: »

Surely others like me saw this coming and put their cash into fixed term bonds

No. Only people who bought at the top of the market were supposed to have seen exactly when the bubble would burst. The mad bears were NOT under any circumstances expected to see interest rates going down as a direct result to said burst.

stevetodd

b0rker wrote: »

No. Only people who bought at the top of the market were supposed to have seen exactly when the bubble would burst. The mad bears were NOT under any circumstances expected to see interest rates going down as a direct result to said burst.

There was plenty speculation about it (especially on this site, on the savings section). If people who bought at the top knew it was going to burst, then why did they buy?

b0rker

Kez100 wrote: »

I am so surprised people are not rioting. I really am.

You are surprised. I am glad. The less pensioner cleavage I have to see the better.

b0rker

stevetodd wrote: »

If people who bought at the top knew it was going to burst, then why did they buy?

My feelings precisely.

lostinrates

b0rker wrote: »

No. Only people who bought at the top of the market were supposed to have seen exactly when the bubble would burst. The mad bears were NOT under any circumstances expected to see interest rates going down as a direct result to said burst.

I think the writing was on the wall, but that didn't make it practical for all savers to lock their money away. If its a future, a distant pe,nsion, or the start of a saving fund thats going to take a while to accrue fair enough, for some getting to the money when needed was at least as important.