howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
#1
Guest 683- Registered: 11 Feb 2009
- Posts: 1,052
#2
Funny how, now that the ConDems are not managing the economy, the crisis has become due to an "international situation" - those bloody foreigners, don't you know!
I had been led to believe that it was all down to Gordon Brown.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
#3
He is quite right.
We need to move away from an economy based of debt to one based on savings and investment. Far, far healthier.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
#4
Mark - you distort the situation. We are struggling to get out of an economic hole that was made a lot deeper by Brown's mismanagement than it need be. The difficulties we are facing are made harder by the major European economies having made many of the same mistakes of Brown, building up appalling levels of deficit and debt compounded by the ill-conceived Euro. I at least have always given Brown the credit for resisting Blair's urging to join the Euro. That is the only thing Brown did right, if he had given in to Blair we would be in an even worse situation now.
I have been very specific in the past in identifying exactly where Brown went wrong.
Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,948
#5
wonder if our dave will change his mind over europe?
or be forced to?
ALL POSTS ARE MY OWN PERSONAL VIEWS
Guest 640- Registered: 21 Apr 2007
- Posts: 7,819
#6
It is a poor deal these days for savers and investers BarryW. The interest rates on saving accounts are paying less than inflation.If say one has several thousand in a small High St savings account, it is actually losing money keeping it there. You have to search about for the best deal that enables you to loose that bit less. Its very odd, a very odd situation.
Likewise with investments, the stock market is riddled with chaotic manouverings every day, up and down it goes like a small boat in a rough sea. Nobody can be sure they can get any kind of return.
In real life and in happier days some credit and some savings are ideal...but at the moment..whooosh! we are between a rock and a hard place!
Im not sure where David Cameron thinks people will get the money to pay off their credit card debts. The people havent got any money. They are not sitting on cash nest eggs. There was talk at the Conference yesterday as to whether or not he was out of touch with real people. This thing backs up that concern.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
#7
have to agree with paul there, we keep reading that people are dipping into their savings to pay household bills.
dave seems to live in a cloistered world, none of his advisers are telling him what is happening to ordinary people.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
#8
On the contrary PaulB - investors can get a reasonable return and the current extreme volatility will not last forever. As always good investment stems from proper asset allocation associated with appropriate timescales and good funds. I have portfolios providing a net income of 4% to 5.5% pa depending on risk and objectives plus the potential for capital growth. These investment conditions can work in your favour if you know what you are doing.
People need to be careful though - there are sharks out there and some very dodgy schemes. Do not invest without suitable qualified advice.
Howard - then people should seek to cut back on their spending if their income does not match their spending. But, at least those you refer to have savings, under the last government the savings ratio fell through the floor, so far too many people relied too much on borrowing to fund their spending - much like Brown's government! That is a huge source of today's problems, its not just government debt that is the problem holding back the economy.
Jan Higgins
- Location: Dover
- Registered: 5 Jul 2010
- Posts: 13,931
#9
I wonder how many of those that are not reducing their credit card debt or spending their savings are still having expensive holidays and other buying sprees.
One of the best things I ever did was paying my credit card off, I still use it but only buy what I can pay for when the bill comes in.
-----------------------------------------------------------------------
I try to be neutral and polite but it is hard and getting even more difficult at times.
-------------------------------------------------------------------
Guest 683- Registered: 11 Feb 2009
- Posts: 1,052
#10
Apparently we have all misunderstood!
This Conference is proving to be very entertaining.
I suspect they decided to portray themselves as Fred Karno's Army to take our minds of the economic crisis.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
#11
It has been a long establish and stated aim to move from an economy based on debt to one based on savings. Very sensible indeed. DC will be speaking now and people will hear what he actually has to say rather than the emphasis placed by the media on what was leaked.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
#12
they said earlier on the news that the credit card thing was being removed from the speech.
i believe he will hum a sea shanty instead to fill in the time.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
#13
They were concerned at the very silly spin put on it by a BBC journalist I believe.
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
#14
oh well thats about as funny as the german version of dads army.
DT1- Location: Dover
- Registered: 15 Apr 2008
- Posts: 1,116
#15
Let's hope 'all of us' can pay off our credit cards to help.
I am personally worried if Mr Cameron can keep up with his minimum payment on his American Express card. Raking up enough air miles to make it to Ibiza on Easyjet, he must have quite a debt to clear.
Growth is small because no one has any money. The speech seemed to promote holding spirit and getting through with the same sort of reductionist mentality that got us through the likes of WWII (of which makes this country the one I love).
I have to admit I agree, sustainability is the message...so perhaps Capitalism will run it's course after all.
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,948
#16
blimey roll on 2015
ALL POSTS ARE MY OWN PERSONAL VIEWS
