Who Will Save the Savers

caveat_emptor

Alan_Cross wrote: »

After all the sanctimonious finger pointing at the buy-to-letters, I'm afraid I have limited sympathy for these oh-so-poor savers who do nothing with their money to support commercial activity in the wider economy. We are supposed to view them as some kind of model of propriety when in fact, if we all did as they do, the global economy would have sunk without trace long before the current crisis.

Hoarders, unrealistically expecting big % interest handouts come rain or shine when others are losing their jobs.

There are always two sides to every story.

Spoken like a true buy-to-letter. Ever thought of where the money comes from to provide mortgages? Oh yes savers do nothing to support commercial activity.

Innys

Alan_Cross wrote: »

After all the sanctimonious finger pointing at the buy-to-letters, I'm afraid I have limited sympathy for these oh-so-poor savers who do nothing with their money to support commercial activity in the wider economy. We are supposed to view them as some kind of model of propriety when in fact, if we all did as they do, the global economy would have sunk without trace long before the current crisis.

Hoarders, unrealistically expecting big % interest handouts come rain or shine when others are losing their jobs.

There are always two sides to every story.

What you seem to conveniently forget is that it is these "oh-so-poor savers" were the ones funding the buy-to-letters (of which I am one, incidentally). Without them, there would be no global economy to sink.

ed123_2

.....I depend on interest from savings which is approx. 97% of my total income.......so I should go out & spend it on wine, women & song (& waste the rest of it..) and then claim income support, council tax benefit, etc etc

baby_boomer

No-one will save the savers or any other group.

The is going to be a vastly smaller national pot and everyone is going to be fighting tooth & nail for a share.

djohn2002uk

Alan_Cross wrote: »

After all the sanctimonious finger pointing at the buy-to-letters, I'm afraid I have limited sympathy for these oh-so-poor savers who do nothing with their money to support commercial activity in the wider economy. We are supposed to view them as some kind of model of propriety when in fact, if we all did as they do, the global economy would have sunk without trace long before the current crisis.

Hoarders, unrealistically expecting big % interest handouts come rain or shine when others are losing their jobs.

There are always two sides to every story.

I hop[e the other 127 posts of yours didn't utter such drivel as this one.
A fine contribution you make to a money saving site, I think not.
Two sides to every story? I'm certainly glad there's another side other than the one you spout.

lilac_lady

If savers spend every penny they have earned, who's going to pay for their housing repairs, higher energy bills, dearer food, etc?

hyposmurf

The only thing I can see saving savers is time.Things will improve just a waiting game.

ricll

As far as I know savers provide the banks with money which will be, by one way or other, used to finance buy-to-letters themselves in the end. So it's just insane to say that savers don't support the wider economy.

kingmonkey

So should I be buying gold or doing a BTL?

bjorn_again

Who will save the savers? The "market" of course - eventually. Nothing lasts for ever and the pendulum has to swing both ways which is exactly what is happening right now. If house prices/shares/savings whatever always went one way i.e. upwards, we would all have backed a winner years ago. Eventually whatever is going on now will fuel the next swing towards the savers. The whole of life is cyclical.