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Thread: Interest rates up 0.5%!

  1. #1

    Interest rates up 0.5%!

    Tough times if you have stretched your mortgage and not fixed or are coming out of a fixed rate in the next 12 months!

    https://www.bbc.co.uk/news/business-62408868

  2. #2

    Re: Interest rates up 0.5%!

    I'm 33 now, since I've been an adult I've never known a good economy. Is this really the best we can do? The tories are economically illiterate, you're a fool if you believe otherwise.

  3. #3

    Re: Interest rates up 0.5%!

    Quote Originally Posted by Doucas View Post
    I'm 33 now, since I've been an adult I've never known a good economy. Is this really the best we can do? The tories are economically illiterate, you're a fool if you believe otherwise.
    Don't be silly, mun. We're still paying for the fact Labour screwed the world economy in 2008.

  4. #4

    Re: Interest rates up 0.5%!

    Quote Originally Posted by Eric the Half a Bee View Post
    Don't be silly, mun. We're still paying for the fact Labour screwed the world economy in 2008.
    Think the winter of discontent has got something to do with the problems the country is having currently as well.

  5. #5

    Re: Interest rates up 0.5%!

    Quote Originally Posted by Doucas View Post
    I'm 33 now, since I've been an adult I've never known a good economy. Is this really the best we can do? The tories are economically illiterate, you're a fool if you believe otherwise.
    Have you ever heard of Covid?

    Are there Torries in America?

    https://www.bbc.co.uk/news/business-61804877

    US makes biggest interest rate rise in almost 30 years

    Are the Torries in Europe ?

    https://www.bbc.co.uk/news/business-62240730

    Eurozone raises interest rates for first time in 11 years

    You can't shut the World down for two years and expect everything to be hunky dory!

  6. #6

    Re: Interest rates up 0.5%!

    meanwhile.......Exxon Mobil made $18bn in profits in the past three months. Shell and Chevron each made nearly $12bn. Those are all record numbers.

  7. #7
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    Re: Interest rates up 0.5%!

    Quote Originally Posted by North Cardiff Blue View Post
    Have you ever heard of Covid?

    Are there Torries in America?

    https://www.bbc.co.uk/news/business-61804877

    US makes biggest interest rate rise in almost 30 years

    Are the Torries in Europe ?

    https://www.bbc.co.uk/news/business-62240730

    Eurozone raises interest rates for first time in 11 years

    You can't shut the World down for two years and expect everything to be hunky dory!

    Are Torries the same as 'bogg trotters'?

  8. #8

    Re: Interest rates up 0.5%!

    Quote Originally Posted by North Cardiff Blue View Post
    Have you ever heard of Covid?

    Are there Torries in America?

    https://www.bbc.co.uk/news/business-61804877

    US makes biggest interest rate rise in almost 30 years

    Are the Torries in Europe ?

    https://www.bbc.co.uk/news/business-62240730

    Eurozone raises interest rates for first time in 11 years

    You can't shut the World down for two years and expect everything to be hunky dory!
    ....and yet, the Tories blamed Labour in 2008. Weird huh? It's almost like, what's the word?....oh yeah, hypocrisy.

  9. #9

    Re: Interest rates up 0.5%!

    Quote Originally Posted by Citizen's Nephew View Post
    meanwhile.......Exxon Mobil made $18bn in profits in the past three months. Shell and Chevron each made nearly $12bn. Those are all record numbers.
    The rich get richer and the poor get poorer. Beautiful capitalism

  10. #10

    Re: Interest rates up 0.5%!

    Quote Originally Posted by Doucas View Post
    I'm 33 now, since I've been an adult I've never known a good economy. Is this really the best we can do? The tories are economically illiterate, you're a fool if you believe otherwise.
    Usual (mis)interpetation of the situation from Doucus, and usual insult aimed at anyone who thinks differently.


    If only the economy was as predictable.

  11. #11

    Re: Interest rates up 0.5%!

    Quote Originally Posted by North Cardiff Blue View Post
    Have you ever heard of Covid?

    Are there Torries in America?

    https://www.bbc.co.uk/news/business-61804877

    US makes biggest interest rate rise in almost 30 years

    Are the Torries in Europe ?

    https://www.bbc.co.uk/news/business-62240730

    Eurozone raises interest rates for first time in 11 years

    You can't shut the World down for two years and expect everything to be hunky dory!
    True, but why is it that the UK is predicted to have the lowest growth rate out of the G20 apart from Russia?

    https://www.newstatesman.com/chart-o...ery-g20-russia

  12. #12

    Re: Interest rates up 0.5%!

    Quote Originally Posted by jon1959 View Post
    Are Torries the same as 'bogg trotters'?
    I might create some 3D game creatures for a survival horror RPG and call them Torries!

  13. #13

    Re: Interest rates up 0.5%!

    Quote Originally Posted by the other bob wilson View Post
    True, but why is it that the UK is predicted to have the lowest growth rate out of the G20 apart from Russia?

    https://www.newstatesman.com/chart-o...ery-g20-russia
    There is no good news around for anyone, but you needs to look at ACTUAL data, rather than predictions.

    Usual real data, The UK currently has the second highest growth in the G20.
    https://tradingeconomics.com/country...al-growth-rate

    This of course is linked to the previous anaemic growth, but so too must future growth (or lack thereof) be compared to the more rapid growth mentioned above. All economies are on slightly different cycles following Covid.

    The reality is, there is very little good news around for anyone

  14. #14

    Re: Interest rates up 0.5%!

    Quote Originally Posted by JamesWales View Post
    Usual (mis)interpetation of the situation from Doucus, and usual insult aimed at anyone who thinks differently.


    If only the economy was as predictable.
    Absolutley the economy is unpredictable but I gave up on politics of any colour years ago because of the vacuous empty promises that they would trot out in manifestos and subsequent speeches that must have been signed off by Walt Disney

    The reality is politicians in the main are in it for themselves and no one else and a % are getting extremely rich off the majorities misery and they are only concerned with self preservation

    There is no integrity transparency or legitimacy in politics anymore

  15. #15

    Re: Interest rates up 0.5%!

    Quote Originally Posted by North Cardiff Blue View Post
    Have you ever heard of Covid?

    Are there Torries in America?

    https://www.bbc.co.uk/news/business-61804877

    US makes biggest interest rate rise in almost 30 years

    Are the Torries in Europe ?

    https://www.bbc.co.uk/news/business-62240730

    Eurozone raises interest rates for first time in 11 years

    You can't shut the World down for two years and expect everything to be hunky dory!
    The common theme is right wing economics.

  16. #16

    Re: Interest rates up 0.5%!

    Quote Originally Posted by Doucas View Post
    I'm 33 now, since I've been an adult I've never known a good economy. Is this really the best we can do? The tories are economically illiterate, you're a fool if you believe otherwise.
    I think you are incorrect. Interest rates and inflation have been consistently low for most of your adult life compared to say the 1970's when interest and mortgage rates were in excess of 20%.

    In answer to Eric's comment - labour did not ruin the economy. It was World factors including a virtual collapse in the Banking system internationally. Labour got the blame for the financial crisis in 2008 but later detailed analyses showed that the problems experienced were due to factors completely outside their control. Again the country is in a growing financial mess due to factors outside governmental control such as COVID fallout and the war in Ukraine (which alone adds around 13% to inflation). It's going to be rough for the next few years.

  17. #17

    Re: Interest rates up 0.5%!

    Quote Originally Posted by Vindec View Post
    I think you are incorrect. Interest rates have been consistently low for most of your adult life compared t say the 1970's when interest rates were in excess of 20%.

    In answer to Eric's comment - labour did not ruin the economy. It was World factors including a virtual collapse in the Banking system internationally due mainly to investment institutions purchasing financial instruments they didn't understand. Labour got the blame for the financial mess in 2008 but later detailed analyses showed that the problems experienced were due to factors completely outside their control.
    I don't know why people keep bringing up this interest rate nonsense. House prices were a fraction of what they are today so it's irrelevant.

    Boomers when they were the same age as millenials had about 30% of the countries wealth, millenials have about 4%..

  18. #18

    Re: Interest rates up 0.5%!

    Quote Originally Posted by Doucas View Post
    I don't know why people keep bringing up this interest rate nonsense. House prices were a fraction of what they are today so it's irrelevant.

    Boomers when they were the same age as millenials had about 30% of the countries wealth, millenials have about 4%..
    With interest rates 20 times higher than they are today it is not irrelevant. Where I agree with you is that house prices now are probably 10x higher than they were in the 1970's. Perhaps a better yardstick is to look at mortgage repayments in relation to house prices and salaries.

  19. #19

    Re: Interest rates up 0.5%!

    Quote Originally Posted by Vindec View Post
    I think you are incorrect. Interest rates and inflation have been consistently low for most of your adult life compared to say the 1970's when interest and mortgage rates were in excess of 20%.

    In answer to Eric's comment - labour did not ruin the economy. It was World factors including a virtual collapse in the Banking system internationally. Labour got the blame for the financial crisis in 2008 but later detailed analyses showed that the problems experienced were due to factors completely outside their control. Again the country is in a growing financial mess due to factors outside governmental control such as COVID fallout and the war in Ukraine (which alone adds around 13% to inflation). It's going to be rough for the next few years.
    Labour were cringingly apologetic too. They sucked up way too much Tory propaganda and didn't fight it properly. They were weak then when it came to opposing Tory austerity.

  20. #20

    Re: Interest rates up 0.5%!

    Quote Originally Posted by Citizen's Nephew View Post
    Labour were cringingly apologetic too. They sucked up way too much Tory propaganda and didn't fight it properly. They were weak then when it came to opposing Tory austerity.
    Eh! The Tories didn't gain power until 2 years after the 2008 crisis; austerity came much later. I agree that was a very poor policy. We should have been expanding the economy and not reducing it. The argument that there was no money was clearly incorrect as £405bn was found to pay for COVID.

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