They could do that here, if they stopped spending it on MP's expenses, second homes, £164 per roll of wallpaper.
All they have to do is divert money, to those that neede it.
I looked at the interest rates yesterday :shock:
even isas are producing nothing long term :shock:
what I would do with it str8 out of the bank and under my bed like all the rest of my savings :shock:
steve ( better to duck and dive buy and sell rather than a bank have your money)
Didn't realise the US did one too Fabio - cheers. This Oz's second one in the last 6 months. First one was directed at families with children.
I agree with you on the infrastructure package - it would be great to see some areas that really need a boost to get some help. Long as it doesn't go in the MP's pockets as Sarah said.
What's the state of play with Bank Charges? Anyone know?
Nola - I watched a TV report (watchdog I think) about the VAT thing - seems a lot of shops have already done away with it. They say they have given it to the customer in other ways....
What's the state of play with Bank Charges? Anyone know?
The latest is as far as i know at the moment is the following
1st April 09. House of Lords allows banks appeal
Banks have been given permission by the House of Lords to appeal the Court of Appeal's decision that bank charges can be subject to fairness rules.
At the momemt the following is happening
It is now a case of waiting for the House of Lords hearing to take place. This could be by the end of July, but because the Lords closes for summer, if there are any delays, it may not be heard until October. Its also a case of waiting for a decision from the OFT on whether it thinks bank charges are actually unfair. It has announced it is going to look at the terms of HSBC, Lloyds TSB and Clydesdale Bank first to make the process quicker
I think a good idea would be, instead of spending billions on bailing out the greedy banks, that money should have been divided, and split between all the taxpayers.
I would have pumped my share back into the economy by buying a nice new car, a new sofa, a new tv etc..... All the shops will benefit, the economy will benefit.
If there is any left over, and am sure there would be.... I would then go on a nice family holiday and help their economy too.
Problem sorted.
As it stands though the billions already given have had no marked improvements that the average person can see. The economy is still shite, people still have no money to spend, or do not want to spend any.
I would have gratefully given them my bank account details.
sticking with anais and not being diverted by other responses, the japanese did the same thing in the early nineties and the japs saved the money. whats the point of buying something this week that will be cheaper next week ? (deflation). unfortunately the general public are not educated in finance and banking. gordy decides nothing and it makes no difference what colour skirts politicians wear in a "parliamentary democracy" they all wear blue knickers. banking, or otherwise known as lending, is the lending of fictitous value (paper) at interest. mortgages are interest on interest (compound). to understand this concept (con) e mail me and i will explain but basically, the central bank, (the bank of england here) issues paper notes of credit out of thin air, the fact that the mint prints them is irelevant, and lends them to the govt, at interest to spend on whatever. the greater the money supply,(read quantatative easing) the less the value of the paper credit notes (inflation). biggest con for 300 years. the bank of england is a private bank, owned by private shareholders! read your notes ! top left hand side :- london for the govenor and company of the bank of england ! company meaning shareholders !
I don't think it would work, my daughter is at uni doing an economics degree and part of the course is to study the American stimulus and although she's not finished it yet her early findings were that people were either keeping it or paying of existing debt. For it to work they need to be spending it on "new product"..........
See sometimes I do pay attention....... :shock:
Never heard of the concept mentioned earlier of giving tax payers money to the tax payer to use instead of paying the money to those hyenas or sharks in the banking system. I think the banks that were grossly negligant in their management of risk should be decommissioned. The tax payers money should be invested in other good banks who take on the customers from the old bad banks. A big proportion of the money should go to tax payers to spend to kick start the economy - but you may not like this bit, for it to be effective it has to be spent in Britain and not on holidays abroad for economic reasons.
It is a complete pisstake that the govern't gives our hard earned cash to reckless bankers (many weaving between the restictions to get bonuses and are laughing at us) for the same people who made mistakes to do good. This world i live in i am not happy with and think it is shocking to see people get away with near murder, probably cos many politicians have some consultancy stake in the banking system and the banking lobbying campaign is bigger than you think.
When i studied economics i was told that there comes a time of natural selection. In this instance, any banks making mistakes should become extinct and a new bank with different culture, morales and diversity takes over. Nature would wipe out those bad banks but guess what, just like in the Mexico world cup 1986 hand of god incident - the government has stepped in 'hand of god' to create a false economy by bailing out bad performers. Bad performers should be replace by good performers otherwise how do we move forward. The baddies will toe the line with gov't investment for a while and then they will take advantage again and kill our economy. I think many of the bankers should go to prison. i have many friends and family out of work and the culprits move onto their next reckless project.
Sorry bout the rant but i just needed to get it out. Ta.
These initiatives are basically tax payers lending themselves money to be repaid in the future.
If you think about it like that its bonkers.
I don't envy anyone in charge right now.
