Ernst & Young: Rates won't rise until 2014

ess0two

Graham_Devon wrote: »

They probably would.

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

Savings rates like mortgage rates can go up as well as down,surely everyone knows that.

Graham_Devon

ess0two wrote: »

Savings rates like mortgage rates can go up as well as down,surely everyone knows that.

I have no brain, nor understanding, so please, bare with me here.

Savings rates can go up and down, yes.

The point, however, is that savings fall short of inflation. By quite a long way.

Oh, and very good point you have. Anyone who works can be made redundant....surely everyone knows that.

Really2

Graham_Devon wrote: »

They probably would.

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

That makes no sense, just because there are more does not mean they bare the brunt.

Otherwise you may as well say Chinese are bearing the brunt as their are more of them???

Brunt would be the most financially disadvantaged by the economy, unemployed wins hands down.
Total lost wages would be far more than inflation adjusted interest income by savers.
Also you pension with no or little savings will hardly be affected as their pension payments will still get raised on inflation.

Also why not get a higher rate of savings such as fixing some of your savings to raise income?

ess0two

Sadly there are winners and losers,for years i've been shafted with IR''s when paying a mortgage whilst savers have creamed it.

Now its my turn and i'm taking full advantage of the situation,hows that Dev?

Graham_Devon

Alright, I'm out of this one

nearlynew

Don't forget...... all HPI cheerleaders are debt-junkies.

ess0two

Graham_Devon wrote: »

Alright, I'm out of this one

Turn it on its head,i suspect given your age?you must be benefitting on low mortgage IR's.
Would you rather they rose just to even the playing field for savers?

ess0two

nearlynew wrote: »

Don't forget...... all HPI cheerleaders are debt-junkies.

And all savers are tight a rses.

Graham_Devon

ess0two wrote: »

Turn it on its head,i suspect given your age?you must be benefitting on low mortgage IR's.
Would you rather they rose just to even the playing field for savers?

Yes and no.

I would like to see sensible rates. Not rates like today, where we are hostage...can't increase them even half a point as the economy will likely tank. That's not a good situation to be in. Not for any of us, saving on your mortgage or not.

I'm benefitting from low interest rates, yes. But my benefit isn't the be all and end all for me. I can also see if rates stay this low for too long, I will be paying a large price in the coming years in various ways.

Malcolm.

Graham_Devon wrote: »

Yes and no.

I would like to see sensible rates. Not rates like today, where we are hostage...can't increase them even half a point as the economy will likely tank. That's not a good situation to be in. Not for any of us, saving on your mortgage or not.

I'm benefitting from low interest rates, yes. But my benefit isn't the be all and end all for me. I can also see if rates stay this low for too long, I will be paying a large price in the coming years in various ways.

Your wife's divorce settlement will be larger?