Making the news today....

[Johnsond]

10 hours ago, Steve Bullman said:

Scheme after scheme being used over the years to prop up our economy and stave off probably the worst recession/depression in history..with each scheme giving short term relief but on the long run probably exasperating the end result. 
 

this latest news will he a godsend to some no doubt but can’t help feeling it’s just putting off the inevitable just like every other scheme 

 

Mortgage holders to get 12-month grace period before repossessions amid interest rate hike

APPLE.NEWS

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Mortgage lenders and Chancellor Jeremy Hunt have agreed that people should be given a 12-month break before...

 

The depressing thing is Steve I’ve not heard any viable alternative suggestions or ideas from any other political party at all . My own view of the idea that interest rate rises will sort inflation is that it’s akin to using a hammer to sort a headache. I think you’d get more effect with a series of tv ads telling people to be cautious with money, save and plan for the future etc etc rather than constant ads encouraging us to buy shit we don’t need or eat utter muck. 

[difflock]

We have always been very cautious with borrowing, but that aside, I am totally perplexed or bemused that anyone, young or old, having functioned well enough to be in a position to purchase a house, could NOT see that interest rates were stupidly stupidly artifically low and could and would only go one way, and therefore "game" the numbers to understand the possible additional monthly costs. As I seem to recall we did any time we considered borrowing money. Or lock in to fixed rates for 3 to 5 years, even if it meant paying a fraction more each month. 

Also, re increasing material prosperity, the number, or percentage  of Range Rovers, and other such luxury vehicles on the roads is as staggering as the prices I see displayed on the windscreens at a local dealership.

Ditto the growth in the number of coffee shops, and people using them.

etc

etc

etc

Edited June 24, 2023 by difflock

[Johnsond]

2 hours ago, difflock said:

We have always been very cautious with borrowing, but that aside, I am totally perplexed or bemused that anyone, young or old, having functioned well enough to be in a position to purchase a house, could NOT see that interest rates were stupidly stupidly artifically low and could and would only go one way, and therefore "game" the numbers to understand the possible additional monthly costs. As I seem to recall we did any time we considered borrowing money. Or lock in to fixed rates for 3 to 5 years, even if it meant paying a fraction more each month. 

Also, re increasing material prosperity, the number, or percentage  of Range Rovers, and other such luxury vehicles on the roads is as staggering as the prices I see displayed on the windscreens at a local dealership.

Ditto the growth in the number of coffee shops, and people using them.

etc

etc

etc

I’d agree wholeheartedly with the latter points, being frugal and sensible is not seen as a virtue nowadays. my youngest son came  in asking about a stone island jumper a while back 😳over £200 it was, needless to say he regretted the request very very quickly after getting both barrels. But I guess when you rely on consumerism so much to keep the economy going then what we see now was pretty much inevitable at some point. 

[sime42]

We were told by my parents and grandparents to only buy something if we could afford it, and preferably only things that were needed, not just wanted. Very sound advice, that I still abide by now. Similar for my Mrs. The only debt we have is a mortgage, and it's a fairly affordable one at that, we didn't get stupid with the income multiple. Wouldn't dream of borrowing for anything else; no loans for exotic holidays, no store cards, no fancy cars paid for with HP, non of that sillyness.

 

I'm sure most people had the same message about financial prudence when they were growing up, so I don't know how it's all gone so wrong.

 

 

 

 

[devon TWiG]

On 22/06/2023 at 13:07, trigger_andy said:

1 hour ago, sime42 said:

We were told by my parents and grandparents to only buy something if we could afford it, and preferably only things that were needed, not just wanted. Very sound advice, that I still abide by now. Similar for my Mrs. The only debt we have is a mortgage, and it's a fairly affordable one at that, we didn't get stupid with the income multiple. Wouldn't dream of borrowing for anything else; no loans for exotic holidays, no store cards, no fancy cars paid for with HP, non of that sillyness.

 

I'm sure most people had the same message about financial prudence when they were growing up, so I don't know how it's all gone so wrong.

 

 

 

but if we only spent on essentials then there would be mass unemployment and no nice things to enjoy , dining out , sports / hobbies , events , holidays etc etc ...look at poor countries , we could do that but I doubt many would adopt such policies .

 

 

[Treewolf]

Strange how the media never seem to ask the people with savings and no mortgage about the interest rate increases! I guess good news isn't news...

[Stubby]

I have been following the war in Ukraine  daily since it started . And what is happening now has been building for some months . Prigozhin and his Vargner mercenary army have suffered heavy losses in their attempt to take the ruin that is Bahkmot ( spelling ) and " hand " it over to regular Russian forces only to see it being taken back by Ukraine . He has been super critical of Putins generals without actually criticizing Putin directly . After accusing the Russian artillery of shelling his men and mining their withdrawal it is not surprising that he is now marching on to Moscow . I think Putins days are numbered and Russia will end up divided into many smaller states , each ruled over by assorted " gangsters .  Just my take .  

 

Ah , just seen this has all been covered in the other recent thread specifically about the war . Ignore this old duffer !

Edited June 24, 2023 by Stubby

[Johnsond]

5 minutes ago, Stubby said:

I have been following the war in Ukraine  daily since it started . And what is happening now has been building for some months . Prigozhin and his Vargner mercenary army have suffered heavy losses in their attempt to take the ruin that is Bahkmot ( spelling ) and " hand " it over to regular Russian forces only to see it being taken back by Ukraine . He has been super critical of Putins generals without actually criticizing Putin directly . After accusing the Russian artillery of shelling his men and mining their withdrawal it is not surprising that he is now marching on to Moscow . I think Putins days are numbered and Russia will end up divided into many smaller states , each ruled over by assorted " gangsters .  Just my take .  

Or alternatively he can see the writing on the wall and maybe just maybe the Yankee dollar 💵 still has some appeal. 

[Whoppa Choppa]

Ukrainians running out of popcorn 

[doobin]

14 hours ago, Whoppa Choppa said:

Ukrainians running out of popcorn 

Or not... What a rollercoaster 24 hours.