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I want interest rates to stay at rock bottom for ever
in Savings & investments
56 replies 5.7K views
because people can then afford houses - David Cameron according to the Telegraph:
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We could have low rates forever - look at Japan... it depends if the oversupply in China and the sovereign debt crisis rubbles on in Europe or not... or will these countries make the structural reforms that will help the world out of this mess!
48.78% towards 2015 target.
105.3% towards 2014 target. :j
They have to misrepresent it like that to get elected because there are more losers than gainers under their policies.
Mr Osborne is less awful than Mr Brown by a rather bigger margin.
These are not high measures of merit, alas.
Perhaps Cameron would say what he said before the last election. He promised to turn Britain from a "spend, spend, spend society" into a "save, save, save society". To prioritize borrowers over savers, he said, was "morally indefensible" and a Conservative government would "abolish income tax on savings for everyone on the basic rate of tax"
That speech has mysteriously disappeared from his party website, but it can still be found elsewhere: http://www.telegraph.co.uk/finance/personalfinance/pensions/10457090/Camerons-broken-promise-to-savers-costs-68bn.html
I am a pensioner too, and would love to see better interest rates, from a purely selfish point of view. However, pensioners aren't the only people in the country and many younger people, including all the the mortgage owners, wouldn't call the present interest rates a disgrace. We also have inflation rates at very low levels, and on balance, I'd rather get a little less interest than see galloping inflation and repossessions.
Money Printing would have stimulated production if it had been invested in Industry. But when the housing supply is restricted, and the population rises with unfettered immigration, housing becomes a safer investment than productive industry. So the QE money has been frittered away on housing costs, with 5 million people now claiming housing benefit. Investment in productive industry has actually fallen - hence the record national debt and deficit.