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The Clubhouse Bar
A Political Thread pt. 2
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<blockquote data-quote="Vieux Talonneur" data-source="post: 1071354" data-attributes="member: 73144"><p>Inflation is a real problem. There's been a really unfortunate confluence of events including Brexit and the pandemic, so I hope we're seeing a shortish term spike rather than the new norm. </p><p></p><p>Rising inflation is often dampened by raising interest rates. Without wanting to sound old fartish about it, there's a whole generation of house buyers that only know incredibly cheap, and hardly fluctuating, mortgages of many times salaries. I suspect even limited interest rate rises would spell misery / repossession for many of those.</p><p></p><p>I remember sitting in an asset manager's office 2 or 3 years pre pandemic and hearing that interest rates of 4 - 5% were about right for Britain. Even allowing for what's happened since 2008, interest rates from 1971 to 2021 still averaged over 7%. We have been in an exceptional era for many years now and while low interest rates are great for borrowers they're rubbish for savers.</p><p></p><p>Those in authority have some really tough issues to face.</p></blockquote><p></p>
[QUOTE="Vieux Talonneur, post: 1071354, member: 73144"] Inflation is a real problem. There’s been a really unfortunate confluence of events including Brexit and the pandemic, so I hope we’re seeing a shortish term spike rather than the new norm. Rising inflation is often dampened by raising interest rates. Without wanting to sound old fartish about it, there’s a whole generation of house buyers that only know incredibly cheap, and hardly fluctuating, mortgages of many times salaries. I suspect even limited interest rate rises would spell misery / repossession for many of those. I remember sitting in an asset manager’s office 2 or 3 years pre pandemic and hearing that interest rates of 4 - 5% were about right for Britain. Even allowing for what’s happened since 2008, interest rates from 1971 to 2021 still averaged over 7%. We have been in an exceptional era for many years now and while low interest rates are great for borrowers they’re rubbish for savers. Those in authority have some really tough issues to face. [/QUOTE]
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