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Myth-Busting. Proving Bears Wrong, again.
Comments
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much higher than today. totally agree w this
less of an increase on the years preceding it, than the increase from 3.5 to 5.5% was tho, imoPrefer girls to money0 -
to put it another way, to compare IR's as pure figures without putting them in a timeframe context does not give a true figure. direction is as important.
ie. interest rates of 16% are not onerous to borrowers who borrowed at 13%.
interest rates of 4% to borrowers that borrowed at 2% are extremely highPrefer girls to money0 -
the_ash_and_the_oak wrote: »to put it another way, to compare IR's as pure figures without putting them in a timeframe context does not give a true figure. direction is as important.
ie. interest rates of 16% are not onerous to borrowers who borrowed at 13%.
interest rates of 4% to borrowers that borrowed at 2% are extremely high
and more importantly aren't getting a payrise of 12% which in cash terms meant that the debt was easier to repay.0 -
Thrugelmir wrote: »and more importantly aren't getting a payrise of 12% which in cash terms meant that the debt was easier to repay.
But the pay rises lagged inflation.
Permanently leaving people short.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »But the pay rises lagged inflation.
Permanently leaving people short.
Maybe it would have been easier to manage if house prices hadn't risen so much,
eh McTittish?
just a thought"The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Exactly my point is any one debt a debtor? or some one who debts are more than there assets.
that is what i don't understand about the 7-1 figure.
IIs it there are 7 people who have no debts and some savings for every person who has a debt of some kind.
Or is it their are 7 people who have saving (and possibly debts) for every one person who as debt and no savings.
I would say it is most likely the later as most people use credit of some king.
The 7-1 figure is pure fiction.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »The 7-1 figure is pure fiction.
A bit like your "large detached rural property" , eh McTittish?
Stop dreaming.
HPI is not coming to rescue you."The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
A bit like your "large detached rural property" , eh McTittish?
Stop dreaming.
HPI is not coming to rescue you.
Excellent Post. Well done.
I'm sure the forum finds your incisive comments and intelligent debating style most impressive...........
................ for a troll.;)“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »The 7-1 figure is pure fiction.
Best I could find at short notice......Borrowers will breath another sigh of relief after rates were cut for the third month in a row but savers – who outnumber them by six to one – may well decide that prudence no longer pays.
and a timely reminderSo, amid the celebrations about today’s rate cut, perhaps it is worth restating that it was excessive borrowing and inadequate saving that got us into this mess. The credit crisis cannot be solved by encouraging people to try to borrow their way out of debt.
http://www.telegraph.co.uk/finance/economics/interestrates/3547807/Interest-rates-cut-borrowers-happy-but-savers-may-decide-prudence-no-longer-pays.html
Not everyone lives on debt......... :beer:0
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