Moneysavingexpert campaign to help savers

JonnyBravo

Lokolo wrote: »

Yet theres people like me who are saving for a house deposit and can't enjoy the low rates on a mortgage, nor enjoy the fact my savings are depleting in real terms.

Your savings aren't depleting in real terms if you're going to use them for buying a house. House price inflation is negative.

Lokolo

JonnyBravo wrote: »

Your savings aren't depleting in real terms if you're going to use them for buying a house. House price inflation is negative.

On a national scale yes, but everywhere? No. Isn't London an exception I heard somewhere?

hallmark

OptionARMAGEDDON wrote: »

The main demographic group who are savers are typically OAPs, who benefited greatly by screwing the younger generations through house price rises.

Stupid comment, OAPs didn't screw the younger generations through house price rises any more than current mortgagees are screwing OAPs through high inflation & almost zero IRs.

It's monetary policy that does the screwing. Brown made a horrendous error allowing (in fact encouraging) the house price boom. The Tories have thus far done nothing to redress the balance. It can reasonably be argued that their hands are mainly tied but not so much that they couldn't offer some kind of relief for savers. A large increase in the ISA allowance would only be reversing Brown's years of reducing it via fiscal drag.

ILW

Odd thing is that if there was a concentrated savers campaign and they all pulled say 25% of their savings out of the banks for a week or two, it would bring down the whole system.

If Bob Crowe set up a savers union, rates would be 10% plus.

OptionARMAGEDDON

Torry_Quine wrote: »

I'm nowhere near being an OAP actually! If people are struggling now I can't imagine what they'll do when the rates go up as they have to some time.

You are a minority. Politicians and central banks dont give a !!!! about minorities.

JonnyBravo

Lokolo wrote: »

On a national scale yes, but everywhere? No. Isn't London an exception I heard somewhere?

Don't know. Haven't really paid attention to HPI in London. You may be right though. Not a lot in it I'd have thought.

ILW wrote: »

Odd thing is that if there was a concentrated savers campaign and they all pulled say 25% of their savings out of the banks for a week or two, it would bring down the whole system.

True enough but now you just sould like brit with his "one man buyers strike"

HAMISH_MCTAVISH

ILW wrote: »

Odd thing is that if there was a concentrated savers campaign and they all pulled say 25% of their savings out of the banks for a week or two, it would bring down the whole system.

And lots of them would lose their jobs in the ensuing recession.

If Bob Crowe set up a savers union, rates would be 10% plus.

And the economy would be screwed.

nearlynew

Our economy has been hijacked by liars and thieves.

Saving and producing, as opposed to borrowing and consuming, is THE only way to a prosperous and sustainable future.

The last decade of fake prosperity built on debt will never work. Which is why we are now in the 5h1t.

ILW

Many are doing very nicely out of the current crisis, and do rather like to crow about it.

HAMISH_MCTAVISH

ILW wrote: »

Many are doing very nicely out of the current crisis, and do rather like to crow about it.

Not quite.

Many like to crow about the fact that most are doing very nicely out of the current crisis, certainly by comparison to previous recessions....

And that the doom-mongers who wished economic armageddon on the nation have been proven wrong is just a nice fringe benefit.