Mervyn King warns against 'premature' interest rate rises

[shaunbhoy]

Some of us manage to save money, rather than being up to our eyeballs in debt.

Hurry up inflation, force an interest rate rise, let a load of people lose their shirts from borrowing money they couldn't afford (again...) so I can pick up some cheap deals on their car / house.

Stingey koont. You probably still live at home sponging off your parents and blaming your woes on the nasty baby-boomers.



And you drive a vintage Pug and are too tight to get laid Alexei, so nuff said there.

[bobspud]

Some of us manage to save money, rather than being up to our eyeballs in debt.

Hurry up inflation, force an interest rate rise, let a load of people lose their shirts from borrowing money they couldn't afford (again...) so I can pick up some cheap deals on their car / house.

Hope you get picked up for an IR35 investigation and lose the lots fighting hector...

[scooterscot]

It's all very well saying that, they're probably just too afraid to push the button.

What's that saying, be first, be smarter, or cheat.

[AtW]

Stingey koont. You probably still live at home sponging off your parents and blaming your woes on the nasty baby-boomers.

Sponging off parents is not as bad as sponging off taxpayers - low rates give more disposable income to those who are in debt at the expense of those who have made the right choice not to get into debt.

What's worse - people who are overextending themsevles now to buy house do so when rates are 0.5%, how will they manage increase to 3-4%?!?!?

[scooterscot]

What's worse - people who are overextending themsevles now to buy house do so when rates are 0.5%, how will they manage increase to 3-4%?!?!?

3D glasses on standby for that show...

[doodab]

at the expense of sensible people who were careful to live within their means who are currently being punished despite having done the right thing.

But was it the right thing? From an individual perspective you could argue that if those people have actually lost out it was the wrong thing for them to do. From a collective perspective you could argue that without the borrowing and spending much if not all of the economic growth of the last 15-20 years might not have happened at all and we'd all be worse off.

[Jeff Maginty]

..

[AtW]

But was it the right thing?

Not for the economy it wasn't - for politicians in power it certainly was though.

Residential real estate market remained a bubble that is even worse now because it relies on very low rates and money printing.

[Jeff Maginty]

..

[shaunbhoy]

Sponging off parents is not as bad as sponging off taxpayers - low rates give more disposable income to those who are in debt at the expense of those who are too chicken to take risks on the property market and invest in bricks and mortar.
Many of those who are so reluctant to get on the property ladder drone on endlessly about the high cost of properties whilst all the time living in hope that they will somehow pick up a bargain through someone else's misfortune. You got to be in it to win it.

ftfy