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Thread: Interest rates up 0.5%!

  1. #21

    Re: Interest rates up 0.5%!

    Quote Originally Posted by JamesWales View Post
    There is no good news around for anyone, but you needs to look at ACTUAL data, rather than predictions.



    The reality is, there is very little good news around for anyone
    Apart from Shell, BP, Exxon Mobil, Centrica and all the other Oil companies.

  2. #22

    Re: Interest rates up 0.5%!

    Quote Originally Posted by EastbourneBlue View Post
    The rich get richer and the poor get poorer. Beautiful capitalism
    Unfortunately a lot of truth in that.

  3. #23

    Re: Interest rates up 0.5%!

    If you keep printing money, eventually inflation will come. Capitalism and not so much corporatism is the way forward out this mess.

  4. #24

    Re: Interest rates up 0.5%!

    Quote Originally Posted by Doucas View Post
    The common theme is right wing economics.
    It's a Worldwide problem of high inflation caused by locking the World down for two years, global supply issues, and of couse the war in Ukraine and the high energy costs, it's a tough time but we've been through a lot worse.

  5. #25

  6. #26

    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.
    About 50% of the population of the UK are fools then. You also seemed to think anyone who doubted man-made climate change was a fool, the same with anyone who supported brexit. There's a theme running here..

  7. #27

    Re: Interest rates up 0.5%!

    You forgot to put Trump on that list. Anyway I don't think Brexit has happened due to the amount of times I keep hearing ECHR on the news.

  8. #28
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    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%..
    That's a silly remark
    Houses were cheaper but so were wages lower and then you could only borrow 2.5 x salary for a mortage, plus interest rates were a lot higher. Interest rates of 11% were not unusual.
    As an example when I got married in 1972 I had the opportunity to buy a 4 bedroom house for just over £10,000.00 but although I was on a good wages I couldn't afford the repayments. That same house today is worth over £1/4 million.
    So people then were using a much larger percentage of their disposable income to buy a house than you have ever experienced. But as you have never known any difference you expect it to last for ever. It doesn't sadly. We all wish it would.

  9. #29

    Re: Interest rates up 0.5%!

    Quote Originally Posted by xsnaggle View Post
    That's a silly remark
    Houses were cheaper but so were wages lower and then you could only borrow 2.5 x salary for a mortage, plus interest rates were a lot higher. Interest rates of 11% were not unusual.
    As an example when I got married in 1972 I had the opportunity to buy a 4 bedroom house for just over £10,000.00 but although I was on a good wages I couldn't afford the repayments. That same house today is worth over £1/4 million.
    So people then were using a much larger percentage of their disposable income to buy a house than you have ever experienced. But as you have never known any difference you expect it to last for ever. It doesn't sadly. We all wish it would.
    In 1990 Interest rates were 15%. We were paying near 17% - plus an endowment[remember those], which was taking up over half our combined salaries - something like £1000 per month.

  10. #30
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    Re: Interest rates up 0.5%!

    Quote Originally Posted by A Quiet Monkfish View Post
    In 1990 Interest rates were 15%. We were paying near 17% - plus an endowment[remember those], which was taking up over half our combined salaries - something like £1000 per month.
    In addition to this income tax basic rate was 33% in 1978 reducing to 30% in '79 and allowances were a couple of grand a year depending on how many kids you had.

  11. #31

    Re: Interest rates up 0.5%!

    Quote Originally Posted by A Quiet Monkfish View Post
    About 50% of the population of the UK are fools then. You also seemed to think anyone who doubted man-made climate change was a fool, the same with anyone who supported brexit. There's a theme running here..
    You're so so close to getting it.

  12. #32

    Re: Interest rates up 0.5%!

    Quote Originally Posted by xsnaggle View Post
    That's a silly remark
    Houses were cheaper but so were wages lower and then you could only borrow 2.5 x salary for a mortage, plus interest rates were a lot higher. Interest rates of 11% were not unusual.
    As an example when I got married in 1972 I had the opportunity to buy a 4 bedroom house for just over £10,000.00 but although I was on a good wages I couldn't afford the repayments. That same house today is worth over £1/4 million.
    So people then were using a much larger percentage of their disposable income to buy a house than you have ever experienced. But as you have never known any difference you expect it to last for ever. It doesn't sadly. We all wish it would.
    It was far easier to buy a house in the 1970s than it is now, I don't know how this can be denied? I'm still waiting for someone to address the glaring white elephant in the room that boomers at the same age owned 7x more wealth than millenials at the same age. I don't know why people are ignoring this fact and just denying that financially selfish older generations have ****ed younger ones over big time.

    source- https://www.marketwatch.com/story/th...ers-2019-12-04

  13. #33
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    Re: Interest rates up 0.5%!

    Quote Originally Posted by Parti Mellow View Post
    You forgot to put Trump on that list. Anyway I don't think Brexit has happened due to the amount of times I keep hearing ECHR on the news.
    What has the ECHR got to do with Brexit?

  14. #34

    Re: Interest rates up 0.5%!

    Quote Originally Posted by xsnaggle View Post
    That's a silly remark
    Houses were cheaper but so were wages lower and then you could only borrow 2.5 x salary for a mortage, plus interest rates were a lot higher. Interest rates of 11% were not unusual.
    As an example when I got married in 1972 I had the opportunity to buy a 4 bedroom house for just over £10,000.00 but although I was on a good wages I couldn't afford the repayments. That same house today is worth over £1/4 million.
    So people then were using a much larger percentage of their disposable income to buy a house than you have ever experienced. But as you have never known any difference you expect it to last for ever. It doesn't sadly. We all wish it would.
    If that house was £10,000 in 1972-it would be worth £500,000 now. House price inflation has priced young people out of the market. As Doucas infers it was easier getting on the housing ladder 40 years ago than it is now. Thats allowing for much higher interests back then too. If you disagree how do you explain why so many more from our generation were on he housing ladder back then compared to millennials today.

  15. #35
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    Re: Interest rates up 0.5%!

    Quote Originally Posted by Doucas View Post
    It was far easier to buy a house in the 1970s than it is now, I don't know how this can be denied? I'm still waiting for someone to address the glaring white elephant in the room that boomers at the same age owned 7x more wealth than millenials at the same age. I don't know why people are ignoring this fact and just denying that financially selfish older generations have ****ed younger ones over big time.

    source- https://www.marketwatch.com/story/th...ers-2019-12-04
    There is no argument that house/flat prices to salary ratios have grown steadily over the past 40 years. It has doubled for first time buyers. Private sector rents have also risen massively in real terms.

    https://www.economicshelp.org/blog/5...affordability/

  16. #36

    Re: Interest rates up 0.5%!

    Quote Originally Posted by EastbourneBlue View Post
    The rich get richer and the poor get poorer. Beautiful capitalism
    Think they all made hefty losses through covid times but itís madness to put all our bills up so much, we donít even buy gas from the Russians ffsÖ.I know the price is set regardless but itís crazy

  17. #37

    Re: Interest rates up 0.5%!

    Quote Originally Posted by Doucas View Post
    It was far easier to buy a house in the 1970s than it is now, I don't know how this can be denied? I'm still waiting for someone to address the glaring white elephant in the room that boomers at the same age owned 7x more wealth than millenials at the same age. I don't know why people are ignoring this fact and just denying that financially selfish older generations have ****ed younger ones over big time.

    source- https://www.marketwatch.com/story/th...ers-2019-12-04
    For a start thats America?

    The facts look way out too!

    Seriously you want to forget about this sort of jelousy, you can't help when you are born, but you can decide if you want to make the most out of your life, or constaly moan that life would have been better if this or that had happened.

    Spend less time on here moaning about the torries and get on with your career, crying on here is not going to change anything!

  18. #38

    Re: Interest rates up 0.5%!

    Love to way they apply interest to mortgages but not savings accounts? How is that possible? The banks are the lowest form of on the level are they not?

  19. #39

    Re: Interest rates up 0.5%!

    On a phone so correcting some of the typos!

    For a start that’s America?

    The facts look way out too!

    Seriously you want to forget about this sort of jealousy, you can't help when you are born, but you can decide if you want to make the most out of your life, or constantly moan that life would have been better if this or that had happened.

    Spend less time on here moaning about the Tories and get on with your career, crying on here is not going to change anything.

  20. #40

    Re: Interest rates up 0.5%!

    Quote Originally Posted by goats View Post
    Love to way they apply interest to mortgages but not savings accounts? How is that possible? The banks are the lowest form of on the level are they not?
    They can do what they like, but yes they always work it in their favour!

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