Ernst & Young: Rates won't rise until 2014

ess0two

Chaos_A.D. wrote: »

Hehe, breathed a sigh of relief there mate, I guess along with other debt slaves, it'll keep the reaper from your door for a few more years if it comes to pass hey.

And don't try to kid us either, you're buried upto your eyeballs otherwise you wouldn't be on here 24/7 finding 'good news' to post and hoping for some backslapping of the other bulls to make you feel better

As this place promotes not paying thru the nose for stuff,then surely people paying less interest on a mortgage is a good thing?

Seems you think this a bad idea?

Exocet

ess0two wrote: »

As this place promotes not paying thru the nose for stuff,then surely people paying less interest on a mortgage is a good thing?

Seems you think this a bad idea?

It's all good. And I guess the more indebted you are the better you feel. Doesn't really bother me, small mortgage, easily manageable.

Malcolm.

Chaos_A.D. wrote: »

Hehe, breathed a sigh of relief there mate, I guess along with other debt slaves, it'll keep the reaper from your door for a few more years if it comes to pass hey.

The wealthiest people in society normally carry the most debt.

It's naive to think all those holding debt are slaves.

ess0two

Exocet wrote: »

It's all good. And I guess the more indebted you are the better you feel. Doesn't really bother me, small mortgage, easily manageable.

Aint really the answer to my question,as for feeling better?but like anything in life the cheaper it is or the best deal/price wins the day.

Exocet

Malcolm. wrote: »

The wealthiest people in society normally carry the most debt.

It's naive to think all those holding debt are slaves.

Yes. But.

In normal life, ie. not millionaires, better to have a small amount of debt and to be able to manage it.

Malcolm.

Exocet wrote: »

Yes. But.

In normal life, ie. not millionaires, better to have a small amount of debt and to be able to manage it.

Manageability depends on income and assets, not simply the size of the debt.

e.g. there's plenty of youngsters with small unmanageable credit card bills.

ess0two

Malcolm. wrote: »

Manageability depends on income and assets, not simply the size of the debt.

e.g. there's plenty of youngsters with small unmanageable credit card bills.

And even this site caters for non payment of CC,just run em up,dont pay and use the templates for un-enforceability,this seems perfectly acceptable.
Yet if you have a mortgage and are benefitting from a low rate its frowned upon.
This place cracks me up.

vivatifosi

Malcolm. wrote: »

Manageability depends on income and assets, not simply the size of the debt.

For me, the biggest indicator of manageability is how you can deal with a curved ball. For example, being treated for cancer and having several months off work wiped out my savings totally, still left me with some investments, but savings totally gone.

Curved balls will be different for different people: death of spouse, need new roof on house, one or both people losing income, long term sickness, etc. However the likelihood is that at some point in our lives we'll all have to face one such time. If I'd have known what was going to hit me I'd probably have saved more, but on the other hand if I knew I might die I could well have spent the lot!

Really2

Graham_Devon wrote: »

If this did pan out, which personally I doubt, savers and pensioners would be brunting by far the biggest cost of the recession.

Some how I think anyone has been made unemployed may disagree with that.

Graham_Devon

Really2 wrote: »

Some how I think anyone has been made unemployed may disagree with that.

They probably would.

But there are more pensioners and more savers, than people who have lost their jobs.