INTEREST RATES DROPPED AGAIN

[RTKangaMummy]

What about savers and pensioners???????

Governments penalize savers all the time

For every ONE person in debt there are SIX or SEVEN who are savers!!!!!!!!!!!!!

I am having a mega rant

What are we supposed to teach our children?

The goverment want everyone in debt?

There is no reason for saving for a rainy day?

I know RTK

the economic argument is that you wont bother saving and spend instead, but ironically this is what got us into this mess already!

Kanga, I guess the rate cut was already on the cards. There is a right investment for the right time. Sometimes it is cash, others it is equities or properties, if you take the medium to long term view. The trick is which and when!

I am amazed at the statistic that for every person in debt there are 6-7 savers. Where did that one come from?

The rate cut is also to cut borrowing costs and boost businesses that are struggling under current conditions. Not to mention mortgageholders.

Whichever way the rate goes, there will be winners and there will be losers.

We have told DS that he should save some of his money "for a rainy day"

But the gov just seem to want everyone to be in debt

And pensioners like my parents are actually penalized for saving their money while they worked as teachers

And now because my dad is disabled they are expected to pay over £600 per month for carers as they have savings but if they had spent all their money rather than save it then the gov would help to pay for the carers

It makes me soooooo angry

And they are using up all their savings to pay for it and they are not getting any help from the banks dropping the interest rates

I think the best thing to teach DS is to spend all his money on SKY TV and smoking and drinking and be on the dole and the Gov will give you everything

Don't bother with a career or going to Uni

Jus tgo on the dole and then let them pay for everything!!!!!!!!!!!

WHY is it fair to work hard and save your money when you are penalized by the Gov all the time?????????

sorry about the long rant

Blueshoes I have heard it quoted on the news several times in last few weeks

If you think of all the pensioners who have paid off mortages and don't have credit cards

We don't have a mortage either ~ and yes I know you will say we are lucky which yes I know we are

BUT my main concern is for people like my parents and other carers who the GOV are penalizing for saving their money that they worked hard for

And also what are we teaching the children in this country????

I do think the way in which old age care is funded is scandalous. Exactly the way you described - that pensioners are expected to practically nil out their savings before the state will foot the bill. Many people will lose their hardearned homes and savings as a result - even in good times.

There is a case for financial planning in later years. I just hope I leave this earth in a flash (with my dh) when my time is up.

'tis utter bollocks, isn't it? I can't see the argument for being financially responsible coming from the government or anyone connected with them, inc. the BoE.

Gordy: Well, the country is in financial trouble. I know, we'll give lots of money to the banks, and they will lend it to people, and we'll kick-start the debt merry-go-round again that way.

Advisors: Um, Gordy, it's not working.

Gordy: Oh, well, I am a financial genius, so I suggest we.. give some more money to the banks, to get them to start lending to people to kick start the debt-merry-go-round again.

Advisors: well, it didn't work last time, Gordy.

Gordy: Rubbish, just look at the Bank of England, they're financial geniuses, and they keep pressing the big red interest-rate-cut button.

Advisors: Yeees, and that's not working either...

God - my money is going down in value sitting in the bank.

Just closed down an ISA paying 1% and moved it to an ISA paying 3% but guess that will go down now. I'm sure that the real value of inflation is more than 3% so my money is worth less every year, might as well go and blow it now!

great - just about to change to a tracker

stop saving - start spending, revilalise business, save jobs and the economy

...nah fuckit - keep saving - maybe the tracker will last longer

Tell you something, though, the minute it hits 0%, I'm taking our savings out and keeping them under the mattress, before they start charging me for the privelege.