Pensioners and savers.

Gray_colt

Well GDP up a huge amount today and just watch them skip there remit to keep inflation @2% once again. This time they will spin out something like we need to be cautious.

Norman-B

I now use an Electric razor, so that is of no use. I now need to Google to find the nearest tall bridge.

Doomed I say, we are all doomed!

p00hsticks

Gray_colt wrote: »

Im telling my grandchildren never to take out a pension or save but get into debt and spend spend spend.

Just think before you do that about whether the benefits safety net that OAPs today have will be there by the time your grandchildren retire - I somehow doubt it.

Gray_colt

In 60 years time who knows what will happen, the "city experts" dont know what happening from week to week re the economy, see MPC. Labour let us live in a country where no one was accountable for their mistakes, go bankrupt you get a slap on the hand and pay a small mount back, loose your house and we will look after you to stop in the house, everywhere you look in britain, if you are a looser ie bust you get bailed out and now the new government have slipped into the same shoes re NS&I. If your a saver now your scrabbling around on the floor for pitiful rates to justify to yourself for saving all these years, while mr flash goes to the wall 3 times and is still a viable concern. So everyones in the 2.8% AA account after inflation and tax your a looser. This is the message this country is sending out loud and clear.

dunstonh

now the new government have slipped into the same shoes re NS&I.

No they havent. The NS&I funding rules have been around since the start.

le_loup

Gray_colt wrote: »

In 60 years time ................... is the message this country is sending out loud and clear.

Gosh! You are unhappy. Ever thought of therapy? Perhaps it's been raining where you live. If so, the sun will return.
Meanwhile, if you really want to be cheered up, start reading the Daily Mail ... oops, I think you already do.

margaretclare

Having spent many years of my life in debt I am enjoying the incalculable feeling of being debt-free. This state of affairs has only happened since getting together with my DH. From experience, I would NOT recommend living in debt as a viable lifestyle (although many people do!) The absolute fear of a debt-collector's knock on the door - that is something I can well live without.

My eldest GD can only just make ends meet, but she refuses to have a credit card or to go into debt. Knowing that, I am very happy indeed to help her out if and when she needs it, being aware also that she only asks if she really needs help and that she does appreciate it.

DH says jokingly that, in a few years' time if he's left alone i.e. if I die first, and if he gets past 90, he'll max out every credit card he has and go round the world enjoying himself, and then say to the card providers 'sue me'. But he does admit that if he's left alone he won't want to.

Gray_colt

There you go, the treasury has helped out banks by actioning this NS&I cuts over savers. What does that tell you about what they think of savers. Lower than a snakes belly IMO. Houses will comtinue accelerate and savers left to pick the scraps of 2.8% accounts, nowhere near breaking the high inflation we have. When will they officially change there remit to keep inflation at 3.5% i wonder. Even with the hike in vat to 20% we still wont see a raise because they will fudge the figures like they have done for years. Corrupt government and MPC!

Gray_colt

2014 is only 4 years away but in that time this government as the previous one will inflate your savings away while you are happy with 3% interest if your lucky. How many of you savers feel cheated? good old george osbourne now want the banks to start lending more to keep the house prices going. You can clearly see there remit now. Why dont they just put rates down to 0? If we need more QE then why not?? Answers on a post card please.

Gray_colt

See rates have bottomed out now @ about 2.8% how pitiful. Well done to all you long term savers, this is your reward from government. Inflate the debt away with your savings.