http://www.guardian.co.uk/politics/2010/nov/19/lord-young-grovelling-apology (http://www.guardian.co.uk/politics/2010/nov/19/lord-young-grovelling-apology)
Just shows you how we are thought of by the Government and their cronies.
Lord Young speaks a lot of sense
Lord Young speaks a lot of sense Not to those of us who can't afford a mortgage, who are facing redundancy and reliance on benefits if we can't find another job. >:( Not to the sick who will be forced to work or have their benefits cut, or the elderly who will be forced to move out of their homes or die of hypothermia because housing benefit no longer covers their rent. Not to all the people who are going to be made homeless by this evil government's policies, or those who will lose recourse to the law when faced with illegal evictions, unfair dismissals, medical malpractice or abusive partners. Personally I think Lord Young and his ilk should be divested of their wealth and sent down the nearest coal mine.
While I agree with you Lewic on all those points, I'm out of work and get no "benefits" at all the reality is that if you had a major mortgage three years ago you may actually be £100's a month better off because of the low interest rates. In all situations there are winners and losers. That's what he was saying and I don't see why he's being pilloried for telling the truth. During the depression of the 30's unemployment peaked @25% which was hellish if you were out of work but the other 3/4's in work had a decade of falling costs and rising real incomes... :-X
Well he resigned! But it does not alter the fact that this government are using more of this ilk as 'unpaid' advisers. I wonder how much he was 'unpaid' to hold this position.
It only goes to show what a moron he is (and his ilk) in thinking very low interest rates will boost the economy. As he says, folks with property are enjoying the windfall of a loan to buy it which costs them almost nothing. Meanwhile, banks wont lend on anything else at these rates because it is all risk and no return.
:'(
Haha, now Lord Young has never had it so good!
what he actually said was "You never had it - So Good!"
Quote from: DenbyVisitor on November 19, 2010, 15:30:25
It only goes to show what a moron he is (and his ilk) in thinking very low interest rates will boost the economy. As he says, folks with property are enjoying the windfall of a loan to buy it which costs them almost nothing. Meanwhile, banks wont lend on anything else at these rates because it is all risk and no return.
:'(
SOME folks will be enjoying lower interest rates; but what you gain on mortgages you lose on savings.
SOME folks will of course have fixed rate mortgages - and will be no better of as they spent their savings on a deposit and are still paying higher rates on the mortgage - making them worse off either way.
Good riddance. I can't understand why he was even considered to be brought back as an adviser.
As someone born and raised in Burton upon Trent, I shall never forgive him for totally ruining the British brewing industry, when he was 'minded' to introduce the brewing orders. At the time I worked for Bass. Anybody heard of the company recently, or even managed to drink any of their products? It was a wonderful company to work for, and he ruined it.
valmarg
Quote from: valmarg on November 19, 2010, 19:26:25
Good riddance. I can't understand why he was even considered to be brought back as an adviser.
As someone born and raised in Burton upon Trent, I shall never forgive him for totally ruining the British brewing industry, when he was 'minded' to introduce the brewing orders. At the time I worked for Bass. Anybody heard of the company recently, or even managed to drink any of their products? It was a wonderful company to work for, and he ruined it.
valmarg
Oh half a pint of Burton
won't hurt him
I'm certain
Oh half a pint of Burton
won't hurt him
I'm sure.
Lost count of the times I've been 'Bassed' ;D
Hooray........the mortgage is less
Boooo .......pity your jobs on the line or you may not have one at all so you won't be able to pay the mortgage anyway.
People like him are common place in that Government I am afraid...they have never been much of the caring sharing type.More I'm all right Jack type of people.
Glad Mr Cameron decided to pay for his personal photographer out of Tory party funds instead of our taxes though.....pity it had to be pointed out to him.
I always promise meself I won't join in with these kind of threads again as it puts me blood pressure up ??? ??? ???
Quote from: valmarg on November 19, 2010, 19:26:25
Good riddance. I can't understand why he was even considered to be brought back as an adviser.
As someone born and raised in Burton upon Trent, I shall never forgive him for totally ruining the British brewing industry, when he was 'minded' to introduce the brewing orders. At the time I worked for Bass. Anybody heard of the company recently, or even managed to drink any of their products? It was a wonderful company to work for, and he ruined it.
valmarg
I voted Conservative but not for Lord Young to come back on to the scene so I agree with Valmargs comments, I watched a programme last night about the demise of the North West especially Oldham, remember the wealth of this great country of ours was built on the back of the cotton industry, personally if I was working in computers today I would be worried because I don't think they will catch on, ;D ;D ;D
Quote from: ACE on November 19, 2010, 19:33:54
Quote from: valmarg on November 19, 2010, 19:26:25
valmarg
Oh half a pint of Burton
won't hurt him
I'm certain
Oh half a pint of Burton
won't hurt him
I'm sure.
Lost count of the times I've been 'Bassed' ;D
For Bassed, read Pissed. ;D
Sorry, but I couldn't resist temptation. ;D ;D
valmarg
valmarg
Quote from: valmarg on November 19, 2010, 22:02:48
For Bassed, read Pissed. ;D
Sorry, but I couldn't resist temptation. ;D ;D
valmarg
valmarg
I suggest that you had better go and join Lord Young on the naughty step. NOW!
The point is that low interest rates were supposed to kick start the economy - businesses could borrow money cheaply and consumers would have the £600 a month they were saving on their mortgages to spend on the goods and services that businesses sell.
Ha Ha, I did O level Economics too but I know that in the real world people are pretty scared of the future and only want to stash it all away. Even public sector workers who, up intil now, had jobs for life and fat pensions, are scared.
It only goes to show how out of touch Lord Young et al are. You can't just fiddle with interest rates, you actually have to do stuff duh!
Quote from: ACE on November 20, 2010, 08:09:16
Quote from: valmarg on November 19, 2010, 22:02:48
For Bassed, read Pissed. ;D
Sorry, but I couldn't resist temptation. ;D ;D
valmarg
I suggest that you had better go and join Lord Young on the naughty step. NOW!
Ah ACE, naghty step is my permanent position. ;D ;D
valmarg
If you hadn't noticed it was new liebour that kept the interest rates so low, then they told all the fools "buy as much as you want look how cheap it is to borrow its not worth waiting and saving up to pay cash, buy a bigger house and a bigger tele a bigger car and the personal debt for the country hit a trillion pounds and it all came tumbling down"
I was sure for years that we were all borrowing money which did not exist.
Other wise all the money that has suddenly 'dissapeared' must be some where else but since it isn't and never existed in the first place....... what are we repaying it for?
Quote from: PurpleHeather on November 21, 2010, 14:43:25
I was sure for years that we were all borrowing money which did not exist.
Other wise all the money that has suddenly 'dissapeared' must be some where else but since it isn't and never existed in the first place....... what are we repaying it for?
Oh, I think the money was there all right. Remember it was given away as huge bonuses to the heads of the large banks!! :o :o
Pauline we are talking about hundreds of billions of £ $ and €, certainly some bankers have got millions in bonuses but there is still a lot unaccounted for.
There is also a lot sitting in Directors of Companies bank accounts abroad!! They also have their huge villas in Monaco and other countries where tax is almost non existent.
The money is creamed off by the rich as it always has been for thousands of years. There is still a massive gap between the haves and the have nots.
I suppose the majority of the poor are better off than they used to be prior to the 1940's when there was no social care, but there are far too many people that still struggle to pay their bills and feed themselves. Many of these are in work too.
Although interest rates for mortgages are very low, the amount borrowed has gone up as house prices have gone through the roof since interest rates have fallen.