tag:blogger.com,1999:blog-5524682876220396502.post1449437052423045285..comments2024-03-27T06:56:10.255+00:00Comments on Broad Oak Magazine: Fighting the Government for savers and against inflation (4) Unknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5524682876220396502.post-30622374566898037122013-08-16T12:47:48.452+01:002013-08-16T12:47:48.452+01:00I hope that everyone here has joined Save Our Save...I hope that everyone here has joined Save Our Savers http://www.saveoursavers.co.uk/ if you have not please take time to join up and participate in furthering the savers campaign for fair interest rates and rejecting the governments artificial suppression of market interest ratesgaryhttp://www.blogger.com/profile/05898598892632665384noreply@blogger.comtag:blogger.com,1999:blog-5524682876220396502.post-65647820801595574912013-07-14T18:51:25.114+01:002013-07-14T18:51:25.114+01:00Indeed, I sympathise, and if you can build an inte...Indeed, I sympathise, and if you can build an interest in the media, so much the better. Good luck!Salis Granohttp://www.blogger.com/profile/11163824542900298686noreply@blogger.comtag:blogger.com,1999:blog-5524682876220396502.post-38351255145725567402013-07-14T15:00:11.736+01:002013-07-14T15:00:11.736+01:00Hi, SG: I think this is one of those Japanese stor...Hi, SG: I think this is one of those Japanese stories where you fight even though you know you're doomed.<br><br>What is more interesting, perhaps, is the tone of replies from MP and Ministers. Truly they think we are stupid and ignorant. Such arrogance deserves correction. You may wish to look at the update to this piece.Sackersonhttp://www.blogger.com/profile/17284329249862764601noreply@blogger.comtag:blogger.com,1999:blog-5524682876220396502.post-47377723049476412752013-07-14T14:18:36.870+01:002013-07-14T14:18:36.870+01:00As a holder of a fair amount of cash myself, I und...As a holder of a fair amount of cash myself, I understand where you are coming from and, no doubt, you do have a lot of support from savers, but I can't see this campaign succeeding for a while yet.<br><br>There are some blunt facts that make it unlikely:<br><br>1) Cash returned above trend (i.e. >0.5%) real returns from around 1985 to 2005. That must now be corrected by several years of underperformance. <br><br>2) The government is in a financial mess of long genesis and duration and it needs money. Obviously, borrowers don't have it, but savers do. That's why they will be hit. The logic is inevitable.<br><br>3) No political party supports an imminent rise in rates nor a return of ILSCs. No reason for the government to borrow at comparatively high rates from the retail market when it can do better via the DMO.<br><br>4) As far as economic policy is concerned, no government acts "morally"; never has done, never will. The debates of 1975 which you claim justify a moral case were just cynical attempts to pacify a public outcry over 20%+ inflation.<br><br>5) We are not at a similar point yet, and the ongoing policy of further inflating the property market will mean that the needs of borrowers (and the risks they run from rising rates) will loom larger in the public debate for some time.<br><br>Personally, I'd love to see higher rates and the return of ILSCs but, as ever, the government is hemmed in by short term political considerations. Neither Labour nor UKIP offer a credible and sufficient economic alternative to be an electoral concern.Salis Granohttp://www.blogger.com/profile/11163824542900298686noreply@blogger.com