ollie989898
Member
Well done, no idea what to do but slag someone else's point of view, nice. The can is being kicked down the road for too long already, low interest rates encourage unsustainable spending and reduced savings, the present policy of low interest rates has to be reversed at some time, not all at once but in small stages to get to grips with the present chaos. The Sh!t will hit the fan big time soon and your suggestion is what? Bury your head in the sand and hope things will get better when you know damn well it won't, once again well done .
Slagged down someone's point of view? Hardly. I have disagreed. In a nicely executed way.
If you think the sh!t is hitting the fan now, then pray tell us how magic life will be in 2018 when your 8% interest rates have put families on the street because their houses have been repossessed?
This sh!t is real. You might think a few percent are neither here nor there, but for the average Joe who has a big mortgage (IE 90% of the public) a few percent will increase their monthly repayments drastically, and I don't mean £10 a month.
Joe public cannot go to the AMC and fix his mortgage at 2% for 20 years. He uses a high street bank, who are absolutely fing merciless, I assure you.
A friend of mine used to work for Nationwide, his role was repossessing people's houses. They are utterly without humour or mercy. Like the terminator, they feel neither pity nor remorse. They will have your assets if you do not keep up the repayments. He has personally ripped the guts out of hundreds of people's lives from first time buyers with 2 kids to millionaires who just lost their holiday homes.
I am not keen to see socialism by proxy in the UK or see millions of people on the street because someone thinks low interest rates are a bad idea. They are not ideal in the present situation but they are FAR better than the alrternative.