Pensioners and savers.

dunstonh

C_Mababejive, sharing the opinion is fine. You post and you do it for discussion purposes and a thread of discussion and debate will follow. G_Colt posts purely as a soapbox. He doenst engage in discussion. This is s discussion forum not a blog. Hence the negativity towards his posts.

a groundswell of anger and resentment that is building in this country amongst people who have towed the party line and have tried to take responsibility for themselves by saving/investing/whatever.

I dont get the problem. These people will remain those least affected in the recession and volatile recovery. So, taking responsibility for themselves has paid off.

We cannot all be sophisticated wheeler dealers who have large stashes of cash and sit here chatting about ETFs,spread betting,Forex blah blah blah.

Very few people are and there is absolutely no need to be.

For most ordinary people,saving means or has meant for decades..simply going round to the building society ,getting the best rate and expecting a return which is above inflation.

That assumption is not right though. This is not the first time inflation has matched or been higher than interest rates. It wont be the last. Historically, you get very little real term growth over inflation with savings over the long term..

C_Mababejive

OK Dunston..fair enough..you are in the finance business and have a much advance level of skills and knowledge than most of us.

I see another part to this and it harks back to yesteryear when savings had a linkage to denial.

Many people would traditionally not get things "on tick" but would see it as prudent to deny themselves and save for what they wanted.

Many of those people could see the reward for denail and saving for a rainy day or something special in the form of some tangible interest..something that looked worth having..not stashing what to ordinary people is there lifes savings,maybe something as small as £10000,and getting £30 a year in return or some other trifling amount and then learning that in real terms ,their money is worth x amount less.

Its a whole new world and times have moved on.

There is much inertia in ordinary people.

So maybe it is the loss of life linked with that denial,which is bundled with long term saving,that is most painful and raw?

Even more so for much older people who have denied themselves all their working lives to save for old age and now..what for....nothing.

No wonder they are bitter...

Edit..

Quote
>I dont get the problem. These people will remain those least affected in the recession and volatile recovery. So, taking responsibility for themselves has paid off. <


This bit ,i think,all links into the denial. People see others who have not denied themselves. People with bigger,smarter houses than the savers,then read about how the Government helps them with mortgage assist and also how little some of them pay for their mortgages,,all underwritten by savers money,held by banks for little interest but loaned out at high rates to recharge the coffers and rebuild their balance sheets...

Hungerdunger

Gray_colt wrote: »

I read this with a growing sense of deja vu and great deal of anxiety,

AsI did when I saw you had fired off yet another tirade.

Gray_colt wrote: »

for the excuse this time is "rising food prices". They have said that before and every monthly figures have a "new" excuse. It seems they are running out of it and going back to the start of the list.

Yes I agree with you; it was extremely careless of them to allow the drought in Russia to happen, let alone the floods in Pakistan and India. Will they never learn?