Economically the UK need to raise interest rates.
Politically New Labour needs to lower them if they even want a chance to win the next election.
These positions are opposed. It's going to be interesting. :-)
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FuManChu
- 2008-06-23 @ 10:49:21
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jenray
Pro - http://www.jenniferhunter.co.uk
- 2008-06-23 @ 12:49:23
Raising interest rates will be good for savers...every reduction reduces savings so should be pro an increase....just don't know which is the right thing to do at the moment...
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- 2008-06-25 @ 10:46:30
catch 22 eh?
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- 2008-06-29 @ 13:41:13
The bank should do as it feels with the forsight of conciousness for us mere little people who have no control over of finances and the economy as a whole, Economies are governed by banks. The banks as a business should be kept separte from polictics at all costs and a far as possible. and should be made accountable for there mistakes just like businesses are and have enough money in the slush fund to bail themselves out, hence not affecting the ecomony.
Just like we are asked every day whan we make a credit application waht do we have or wown as secruity.
Norhern Rock are still trading !!!, my business would have been forced to close.
Were stuck now too far along the line to sort this mess out and in the end it will bite us on the arse.
there is no answer to this question accept, emigrate to ........-
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semafu
- 2008-06-29 @ 15:13:30
Norhern Rock are still trading !!!, my business would have been forced to close.
I agree totally. We are supposed to live in a CAPITALIST economy, where businesses which make bad decisions, bad investments, bad products etc are weeded out BY ALLOWING THEM TO FAIL.
and indeed any small business would have been.
Yet the largest businesses are not allowed to fail. This is not capitalism - it is socialism for the rich!
Unforunatley banks are not like any other business at all, notice that they don't actually make anything, they just shift money around. Most people do not understand how they make money - it may shock you. Lending Banks-
- 2008-06-30 @ 09:13:01
Maybe socialism for the rich might be a phrase a bit too far for me to agree with.
There has to be hieracrhy in society, as there is with animals and that includes with businesses.
We do all need direction and looking after in a sense and one does have to keep some sort of status quo.
I started my business with a loan, secrued mite i add and
Just imagine if the rich did nt look out for each other
Rich\Well off people do actually give alot of money to the poor and unfortunate.
I do myself give alot to charity to poeple that are born with diasbilities and of course theres the sponsorship side.
Most of our past inventors were rich. Ther maybe the next modern day einstein out there and without funding etc he will woun t have a cat in hells chase of studing let alone inventing etc...
So each level in society does have its part to play for one reason or another or we would nt be sat here emailing each other
I'm aware of what the banks do and how they lend money to each other, but large establisehed names such as Lloyds etc and Barclays have assets, Northern Rock does nt and therefore another reason why they should be held accountable and why they can t borrow any money off other banks, only the government.
Maybe small businesses should write a letters to Mr Brown and request money as Northern Rock have to survive.
Then they ved have to listen ....and take stock on what banks do.
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Economically, the UK needs to start making or doing things the world wants to buy. The costs of financing that is very important, but still it is secondary.
There is nothing interesting about politicians trying to bribe people with their own money in order to stay in power.