It is Obvious

Chris Rick has got altogether too much to say

Never a borrower nor lender be (bah!)

Posted by chrisrick13 on July 1, 2013

It is obvious: I’m interested

Four and a bit years of 0.5% bank rate.  More years of inflation above the level that the BoE is supposed to keep it at.  Even more years of ‘official’ inflation a long way below the real rate.

I thought of shuffling money into ISAs on April 5th.  Research revealed I could get an improvement on my investments of 0.5% by switching.  £50 on two cash ISAs?  I could not stir myself for the complications which included having to watch for a bonus end date.

What do I want to see?  I want interest rates back up to the 12% I was paying on my mortgage in the early years of taking it on.  I am told there will be carnage if that happens.  House prices will crash, milk will curdle in milk pails, there will be a plague of frogs, temperatures on the West coast of America will move into the 120s.

I don’t have any debts and I drink my coffee black.  I’ll take the risk.

It is obvious: I’m interested – are you?

One Response to “Never a borrower nor lender be (bah!)”

  1. Bill said

    Yep, real wages are falling – I guess until a point where the government feels we are competative again.

    Personally I’d be happy if my interest allowed me to beat inflation, which it really should do. I can’t see banks lending to businesses if they get less back at the end of the period than they put in (its called capitalism) or perhaps thats the reason that bank lending has fallen?

    The problems aren’t going away despite the can being kicked down the road. The thing is that politicians can see that they can play this game for years (look how long Greece has been hanging in there) and all they need is to get through their next election {and stuff the country}…

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