Re: Economy picking up steam :)
 

or do some serious internet shopping from the US ;)

Re: Economy picking up steam :)
 

yes or even go for an expensive shopping trip for a birthday :naughty: :D

Re: Economy picking up steam :)
 

the way I see it is this:

now that everyone has been duped into getting a massive mortgage

they will slowly turn the screws onto the interest rates


they always do it - the labour prats


15% interest when they were last ousted (it was 19% for a short while)

Re: Economy picking up steam :)
 

No one forces people into borrowing stupidly, thats like saying that because they haven't increased the tax on Scotch that they make you drink irresponsibly :confused:

From my understanding of the situation Labour aren't in control of the interest rates now anyway, its the bank of England!!! :rolleyes:

Re: Economy picking up steam :)
 

you have a point to air your thoughts and I do not
deny you that

however:

4 people in the bank of england decide on intesrest rates
and 2 are directly appointed by the government
(make of that what you will)

as for 'borrowing sensibly'

hmm - it's only a matter of time before someone brings
a test case against the banks for lending them too much in the first place

Re: Economy picking up steam :)
 

Interest rates are still lower then they were 3 years ago, and at the end of the day they will always fluctuate, that how they work. Interest rates are there as a financial leaver to enable governments to direct the economy. They were put up this week to try and curtail the amount people are spending on credit, that I believe is in the publics interest.

When you take out a mortgage you should always budget for interest rates to go up, after all thats your responsibility as a borrower, to ensure you can always meet the repayments. Borrowing up to your monthly limit is never a good idea and any good financial adviser will advise against it, if after that advice you do then thats you problem, you decided to do it no one else (I don't mean you personally :) )

Probably, but they will loose after all they always warn you that interest rates can go up as well as down.

People are very quick to **** the government off at the moment, I admit they have made a few boo boos of recent but at the end of the day they are trying to do the best with what they have after all if they don't they won;t get voted in again.

Can you not remember when the Tory's were last in, how many were on the dole? Surely its better the way it is at the moment. :angel: