Off Topic The SIR Kenny Dalglish Public House

So low interest rates benefit rich people. And low interest rates benefits lower class / middle class worth mortgages? In which case surely low interest rates are a win all round?

 

Only people it potentially benefits is those that have plenty of money and choose to stick it in savings accounts. However, of you've got plenty of money there are better ways of investing and benefiting than savings accounts.

If you've not got much money, interest rates don't help no matter how small or large they may be.

 

It's not just the tories.

It's global due to printing unlimited money in covid and following it up with shortages of all sorts due to war and covid.

The 2% was a historic German target due to inbuilt cultural fear of inflation stemming from both wars. This passed into the EU and to be honest wasn't an issue before 2008 much but once that crash happened it was negative inflation and rates and that could never sustain itself.

There has to be some happy medium to this all but really the rich just get richer anyway

 

...unless they overheat the economy and lead to high inflation, which was what used to happen. Then after the financial crisis in 2007/2008 they tried lowering rates to boost the economy but it just wasn't working, so the Rates got low and stayed low. People have basically been waiting for rates to rise for the last 10-15 years.

 

In case anyone was curious... mixing lime juice, gin and amaretto is bloody delicious.

 

because rates were bound to rise and due to the amount people now have to borrow it will rapidly become unaffordable .Seriously people seem to assume it would stay at minimal levels forever and that was never going to happen .

 

I think the problem is that people think that whatever milieu they were raised in is the norm.
I remember as a sprog working with an older guy who wanted somehow to raise £100k in capital because he'd calculated that he could just retire and live on it. The interest that would accrue in those days was more than his annual wage at the time.
Things changed, and younger people brought up in an era of low interest rates can be fooled into thinking that that is the way it should be always.

 

the rates were so low they barely existed

 

I've said similar for if I win a million now but acknowledge it wouldn't last through generations. Also said if I won £30m+ is look to invest because it wouldn't last generations, especially when talking into account how a family tree spreads out

 

If I were you I would not worry about it until you win the cash, life is to short.

 

I might be in a minority here, but I don't feel responsibility for my descendents beyond giving them the best start in life that I'm able to. Imo kids born into wealthy families who never have to provide for themselves are rarely very useful contributors to society.
A bit of a sweeping statement I know, I'm generalising.
I'd rather people learned to make their own way rather than live off their ancestors' success.

 

Definitely don't worry about it mate, just as topic of that occasionally pops up

 

I wouldn't give it them. I'd make them earn and appreciate it

 

Don’t lie. You’d spend it all on food

 

I've got my self two new pups!

12 month old American bull dog and 13 month old Staffordshire.

They are beautiful

 

How do you post a bloody picture

It says the file is to large?

 

Staffys are amazing dogs

 

Take a screen shot of the picture, it'll be fine then (assuming you're on phone)