Free Money

[Scoobos]

Paying off debt doesn't mean borrowing more.

With interest rates so low you're better off clearing debt that's costing you money than keeping it in the bank earning nothing.

Obviously don't deplete savings to a level where you'd be in trouble if out of work.

Ah, ok, thanks for explaining. To be perfectly honest, I dont even consider 'saving' in a bank account a viable option - it hasnt been for many years now, there's not much difference to make it worthwhile for my time to manage an account that offers 1-1.5% and 0% on savings.

[d000hg]

think all this might lead to universal basic income... helicopter money and hyperinflation.
and the rich, not the ultra rich, the rich will finally hate to start doing productive work or find a new way of sponging on the masses.
Interesting times...

You mean the way QE led to hyperinflation? I heard it hear first from the usual wags. Still haven't heard it anywhere else...

[ladymuck]

I'm being daft here, but can you elaborate? Who's offering loans to the public at these rates ?

Paying off debt doesn't mean borrowing more.

With interest rates so low you're better off clearing debt that's costing you money than keeping it in the bank earning nothing.

Obviously don't deplete savings to a level where you'd be in trouble if out of work.

[DimPrawn]

I'm being daft here, but can you elaborate? Who's offering loans to the public at these rates ?

Central bank lends to bwankers at 0.1%

bwankers lend to the public at 57.7% APR

buy shares in high end luxury brands, a few % of the population are about to become trillionaires..

[scooterscot]

Santander offer me £100K+ at 0.25 above base recently. Insane.

[Scoobos]

^^ This.

Sound advice. Rarely heeded.

I'm being daft here, but can you elaborate? Who's offering loans to the public at these rates ?

[wattaj]

Time to pay off any debts you have. It ain't going to stay low forever.

^^ This.

Sound advice. Rarely heeded.

[scooterscot]

Like how Bitcoin is surging on all this new money creation advertised by the central banks either side of the Atlantic.

[WTFH]

Time to pay off any debts you have. It ain't going to stay low forever.

[Lost It]

think all this might lead to universal basic income... helicopter money and hyperinflation.
and the rich, not the ultra rich, the rich will finally hate to start doing productive work or find a new way of sponging on the masses.
Interesting times...

That's what DWP Universal Credit is supposed to do. Give the bare minimum to exist on, then anything you earn has a sliding scale effect on how much UC support you get. IIRC I think for every squid you earn above what they define as minimum you lose 63p of UC so you are supposedly 37p better off once you earn over the threshold. Supposed to encourage people to get work as they will be better off.

[scooterscot]

If only there was a new currency with no possibility of new unit creation and steady rate of deflation

[GigiBronz]

think all this might lead to universal basic income... helicopter money and hyperinflation.
and the rich, not the ultra rich, the rich will finally hate to start doing productive work or find a new way of sponging on the masses.
Interesting times...

[scooterscot]

Boris will be on the boob-tube soon enough telling us what a strong economy we have.

[Scoobos]

It's going to be even more free when the absolute unqualified numpties start printing it en-mass too.

[DaveB]

Near as dammit

Coronavirus: UK interest rates slashed again in emergency move - BBC News

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