Politics is dead, bunch of non-technical people trying to fix technical problems! we need TVP.
A little example
According to his wiki George Osborne, our current chancellor, has a 2:1 degree in modern history!! Eh... wot about maybe economics. So the guy in charge of our public finances has a history degree, and a 2:1 at that!
However this would not help existing borrowers - but would make people's money go further in the shops...but no government would do this as they would not be voted in. But to conclude - I do not think writing off/inflating debts away is the correct solution also...
however if you are a borrow, a bit of advice, never give up your personal freedoms so easily...personally I dislike politics as they always seem to talk about "being in power", rather then "being in office" to serve the people.
in essence due to historically base rates, the banks can reduce the interest paid on savings, which in turn reduces the interest rates paid to borrowers...now I do agree that this is correct to give borrowers a chance to pay the money back...for example, if base rates were 4% (in line with CPI at 3.7% (June 2010) - borrowers would end up paying even more interest on their debts. The country is in a mess and we all need to accept the pain - just like me on my savings...
Why should David Cameron do anything? at the end of the day nobody held a gun to these people's heads to borrow money. I know for my own personal experience...
I am deb free, and dont come from a rich family but was always tought the value of money...during the boom years, I was offered loans - but never took them and have always saved my money.
Today due to record low BOE base rates I get near nothing for my savings and hard work. However borrowers are currently getting a bailout..
Politics is dead, bunch of non-technical people trying to fix technical problems! we need TVP.
A little example
According to his wiki George Osborne, our current chancellor, has a 2:1 degree in modern history!! Eh... wot about maybe economics. So the guy in charge of our public finances has a history degree, and a 2:1 at that!
maxpoweruk2008 4 months ago
its about time we all took responsibility for our own actions and ourselves where possible, instead of living in a "nanny state"
m0o0n0i0r 1 year ago
However this would not help existing borrowers - but would make people's money go further in the shops...but no government would do this as they would not be voted in. But to conclude - I do not think writing off/inflating debts away is the correct solution also...
m0o0n0i0r 1 year ago
BTW thought I should add - frugal decisions I have made:
1) I live in a rented room in a shared house - did not want to buy my own place as I think house prices are too expensive.
2) Always saved during the good times.
3) Paid for things like income protection insurance - thank god I did as I was made redundant 2 months ago, but keep your chin up...
Anyways - I believe a solution to the problem about personal debt would be to make the costs of good cheaper i.e. target inflation
m0o0n0i0r 1 year ago
however if you are a borrow, a bit of advice, never give up your personal freedoms so easily...personally I dislike politics as they always seem to talk about "being in power", rather then "being in office" to serve the people.
m0o0n0i0r 1 year ago
in essence due to historically base rates, the banks can reduce the interest paid on savings, which in turn reduces the interest rates paid to borrowers...now I do agree that this is correct to give borrowers a chance to pay the money back...for example, if base rates were 4% (in line with CPI at 3.7% (June 2010) - borrowers would end up paying even more interest on their debts. The country is in a mess and we all need to accept the pain - just like me on my savings...
m0o0n0i0r 1 year ago
Hi,
Why should David Cameron do anything? at the end of the day nobody held a gun to these people's heads to borrow money. I know for my own personal experience...
I am deb free, and dont come from a rich family but was always tought the value of money...during the boom years, I was offered loans - but never took them and have always saved my money.
Today due to record low BOE base rates I get near nothing for my savings and hard work. However borrowers are currently getting a bailout..
m0o0n0i0r 1 year ago