I followed the incident when it happened. I’m a great admirer of Paul Embery, and think he speaks a lot of sense. Glad he won his case but sad it came to this.
Off Topic The Politics Thread
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I followed the incident when it happened. I’m a great admirer of Paul Embery, and think he speaks a lot of sense. Glad he won his case but sad it came to this.
Am I being too simplistic to think that……mortgage rates go up, meaning we pay more on our mortgages instead of spending on other things that might enrich our lives or days out for the kids…with that then bringing down inflation because those goods or services we want don’t rise in price thus bringing down inflation.
Surely that just means that instead of buying things that we might enjoy or give our kids fantastic childhood memories, we are just giving our money straight to rich bankers, so it’s them who profit from us all.
Surely we are being taken for mugs from it all by the rich ?
Am I missing something here ?
Surely that just means that instead of buying things that we might enjoy or give our kids fantastic childhood memories, we are just giving our money straight to rich bankers, so it’s them who profit from us all.
Surely we are being taken for mugs from it all by the rich ?
Am I missing something here ?
I’m no expert but suppressing demand isn’t going to do much to stop supply-driven inflation. We’re already buying less stuff (while spending more to do so).
It’s the Bank’s only tool though. I agree it’s not an appropriate method of managing the situation we’re in.
I get that’s the theory, but surely it in essence just means we are still spending the same amount of money except we are spending in to line the pockets of rich bankers
The rich have always taken us proles for mugs, so don't expect that to change anytime soon
Unless you’re mortgage-free with a lot of savings and these are the people who really need the help.
Theoretically, Banks should pass on the benefit to those they borrow from - i.e. savers. But they rarely do
Indeed….so I’m correct and the whole system is taking us for mugs
It's the same financial system as used around the Western World, so good luck trying to change it. It applies to a lot of commodities too, like petrol. Capitalism relies on businesses trying to undercut each other, which is why cartels and price fixing are clamped down on.
Im that naive to think things will ever change…just making sure the hatred I feel for these scumbags is not misplaced by my leftwing leanings.
Obviously they are not
If it helps, high street banks have had a lean time of it in recent times due to years of low interest rates
Whilst still making vast sums of money for bonuses to their CEOs and higher paid members of staff.
Nah, doesn’t make me feel sorry for them to be honest
Yeah, the CEO's of the main high street banks make a mint, but then so do CEO's of most public companies.
to be fair they sort of have.
A lot of banks are offering 3-3.7% instant access. Obviously inflation is eating away at it but that would have happened irrespective of the interest rate.