Comments by "jjeffery worboys" (@jjefferyworboys8138) on "Nigel Farage reacts to the Bank of England raising interest rates" video.

  1. In 1979 base rate peaked at 17%, as an ex banker I remember this very well. Prudence as they say is a virtue, which for some will be painful experience.
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  2. How refreshing to read an intelligent comment from someone who actually understands the situation.
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  3. Unlikely on both counts. I have lived through base rate at 17% and house prices may have reduced slightly but it was very short lived. If you know anything about economics just apply the law of supply and demand and that will give you the answer.
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  4. I suspect Im a lot older than you and in the 40 years I have owned property there have been very few times when house prices actually reduced. If you are waiting for it to happen again, you will have a very long wait.
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  5. After a decade of almost non existent interest rates, a small amount of normality is returning. Any business that can't cope with base rate at @ 2% must be so poorly managed that it will have failed anyway.
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  6. Work hard and become one yourself, it's not difficult but it does require effort and commitment. A big ask I know.
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  7.  @80PercentScottish  It was not easier and yes I'm now very comfortable and enjoying the fruits of my hard work.
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  8. Very little The Bank of England or Government can do about external to the UK shocks. Base rate at @5% whilst welcomed by savers, would only add to the misery.
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  9. You are either very young or have a very short memory. In 1979 base rate peaked at 17%.
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  10. Money is simply a tool for wealth creation.
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  11. I will still own plenty, have more income from savings and be even happier. Bring it on !
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  12. They do very regularly, but you need to chase rates by putting in the effort to find out.
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  13. So are savings rates, so higher interest rates are very welcome and long overdue.
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  14. Whats wrong with that ? Why should economic growth be based on never ending increases in consumption ? All it does is encourages you to buy more things you really don't need, probably produced in a sweat shop in China. Do you need 20 shirts in your wardrobe ?
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  15. Only an idiot wouldn't have a fixed rate mortgage. Even with base rate @ 2% mortgage rates will remain very low.
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  16.  @Anonymous56657  Agreed and just like pass the "parcel the music has stopped". Prudence is a quality of the wise.
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  17. In 1979 base rate peaked at 17%, ultra low rates are a relatively recent thing. If you use money as a tool there are always ways to make more.
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  18. There are lots of working class people who are financially very comfortable, they are simply plan better.
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  19. Nothing new, the longer you wait the harder it will become.
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  20. Absolutely right and I'm old enough to remember base rate peaking at 17% in 1979. I'm pleased that the MPC decides interest rates not the government.
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  21. A fixed rate mortgage is a no brainer, everyone should have one.
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  22. He won't and Nigel has no more ideas than anyone else with a banking background sitting on the sidelines.
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  23. Did you ever study economics ? That's a rhetorical question as its clear you didn't.
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  24. The Bank of England and the MPC cannot control external shocks which is what we are experiencing.
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  25. To achieve that you need either of 2 things to occur, both of which are highly unlikely. 1. A mass building programme, so that the housing stock is far greater than the number of buyers for them. 2. Interest rates so high that no one can afford to borrow to buy a house.
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  26. Yes, but it usually takes a few weeks. Use a comparison site to look for the best deals, it's so simple.
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  27. Fawkes and his fellow plotters were religious extremists. The sole aim of the gunpowder plot was replace a protestant King with a catholic one.
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  28. If you rate chase rates as I do, it's not difficult to get above base rate on savings. On other more interesting investments I aim for 100% return.
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  29. Rates have been far too low for far too long, it encourages people to buy now and pay later. I welcome higher interest rates.
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  30. When growth is measured based on consumption, recession, that is less consumption is considered a bad thing. Does this really make sense ? How many things do you buy that you could happily live without ?
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  31. If you think its so easy, become one.
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  32. During my banking career base rate peaked at 17% in 1979. We now have a generation, perhaps even 2 generations of younger people who have never experienced anything other than ultra low interest rates and the slightest increase makes them wet themselves.
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  33.  @Stand663  You have just learned the most basic and important lesson in economics. The law of supply and demand dictates the price of everything. Media driven hysteria only exacerbates the situation.
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  34. The post pandemic world is different to the one before.
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  35. Why not just read the MPC reports ? May's should be out now. They will tell you everything you need.
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