Pay it back

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Fred Bloggs replied

7 July 2009, 07:11
Originally posted by BrilloPad View Post

But rates wont need to go that high if people are so indebted? I wonder how the debt is split between fixed and floating?

Majority of mortgages are now fixed (remember reading that in the Telegraph a couple of weeks back). Government expenditure and debt will drive inflation/interst rates rather than a consumer side boom this time. A gilt stike and a big downgrade in UK credit worthy-ness from AAA to A- or B+ in the market will see the UK's interest rates rise considerably, IMO.
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BrilloPad replied

7 July 2009, 07:07
Originally posted by Fred Bloggs View Post

As they surely as night follows day. 6 or 7% base rate within 2 to 3 years I reckon. Fix your mortgage rate now if you have one.

But rates wont need to go that high if people are so indebted? I wonder how the debt is split between fixed and floating?
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Fred Bloggs replied

7 July 2009, 07:04
Originally posted by BrilloPad View Post

So in theory interest rate rises should hit people very hard when they come?

As they surely as night follows day. 6 or 7% base rate within 2 to 3 years I reckon. Fix your mortgage rate now if you have one.
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BrilloPad replied

7 July 2009, 06:30
So in theory interest rate rises should hit people very hard when they come?
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Cyberman replied

6 July 2009, 21:10
Originally posted by minestrone View Post

As I was saying the other day Major used the budget in 1990 to try and stop the increase in consumer debt, bringing in TESSAS. He realised at the time that too much debt is dangerous and looking at that graph it obviously worked.

It just goes to show what an arse Labour have made of the country.

... and then in 1997 Labour abolished PEPS that allowed people to save 9K annually tax free and brought in the ISAs that reduced this amount considerably. On top of this they abolished tax credits on dividends that destroyed pension saving and we all know where that leaves us. A Labour government means tax, tax and more tax. People will learn one day.
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minestrone replied

6 July 2009, 20:44
As I was saying the other day Major used the budget in 1990 to try and stop the increase in consumer debt, bringing in TESSAS. He realised at the time that too much debt is dangerous and looking at that graph it obviously worked.

It just goes to show what an arse Labour have made of the country.
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xoggoth replied

6 July 2009, 20:34
Excellent graph that needs more publicity.
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ace00 started a topic Pay it back

6 July 2009, 13:49
Pay it back

Scary graph:

http://ftalphaville.ft.com/blog/2009...ntral-bankers/

It really is all new Lie-Bore's fault.
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