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Archive for December 2008
Massive Interest Rate Cuts - Good or Bad?
07/12/2008 by admin.
Ok! So the interest rate has been cut even further. Is this now a good thing? Somehow I don’t think so. What is this going to do to all the pensioners with savings, they have lost their income almost entirely? And, what about the young people trying to save for a deposit to buy their first house? This actually could be very damaging to millions of individuals and to the economy as a whole.
It seems as though the government is grabbing at straws and borrowing huge amounts of money to throw at the many problems. How is it all going to be paid back? The process of paying the money back could be extremely painful. Are we in danger of becoming a bankrupt country? Will we be able to pay back all the money that the government is borrowing? Interesting times ahead…..I guess we will all come through this as better people, but does the government really know what it is doing?
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