Low interest rates do not benefit everyone. If you are a young person saving to buy a home or a pensioner with a small nest egg then low interest rates mean that the real value of your savings are cut in real terms every year. In addition low interest rates have produced rampant inflation in the housing market that has resulted in a modest house in London is completely unaffordable for people with even quite large salaries. And while we are told that the country "cannot afford" for a nurses salary to keep it's value in real terms, our top 100 bosses awarded themselves an Average 33 percent pay rise last year. The editor of the Guardian, a newspaper that complains about high executive pay, gave herself an obscene 42 percent pay rise. An while the "country cannot afford" to give ordinary workers a real pay rise, there seems to be no limit at all on the amount we able to spend on sending armaments to Ukraine.
The economic models are floored which this highlights, these floors are not accidental but rather deliberately shaped this way to the benefit of an obscenely wealthy few.
The governor of the Bank of England needs reminding, we do not live in Feudal Britain after the Great Plague!
Low interest rates do not benefit everyone.
If you are a young person saving to buy a home or a pensioner with a small nest egg then low interest rates mean that the real value of your savings are cut in real terms every year.
In addition low interest rates have produced rampant inflation in the housing market that has resulted in a modest house in London is completely unaffordable for people with even quite large salaries.
And while we are told that the country "cannot afford" for a nurses salary to keep it's value in real terms, our top 100 bosses awarded themselves an Average 33 percent pay rise last year. The editor of the Guardian, a newspaper that complains about high executive pay, gave herself an obscene 42 percent pay rise.
An while the "country cannot afford" to give ordinary workers a real pay rise, there seems to be no limit at all on the amount we able to spend on sending armaments to Ukraine.
The economic models are floored which this highlights, these floors are not accidental but rather deliberately shaped this way to the benefit of an obscenely wealthy few.