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Economics

1 lurker | 24 watchers
GlennR
GlennR
Apr 2023
12:13pm, 25 Apr 2023
69,793 posts
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GlennR
Too many variables to say.
lammo
lammo
Apr 2023
2:49pm, 25 Apr 2023
11,957 posts
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lammo
Perhaps the GE will have more of an effect than anything else, perhaps a change into more investment based views and therefore some tax rises
HappyG(rrr)
HappyG(rrr)
Apr 2023
5:36pm, 25 Apr 2023
46,477 posts
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HappyG(rrr)
Exactly - who says a deficit means problems or a reduction in deficit means tax giveaways for the rich?

Borrow, increase the deficit, tax the uber-wealthy, increase spend on infrastructure, education and poverty reduction and reap the revenue benefits in later years with lower health care costs, higher quality employment and smoother running country.

Ooops, sorry, got all Keynesian there. :-) G
GlennR
GlennR
Apr 2023
8:57pm, 25 Apr 2023
69,806 posts
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GlennR
Unfortunately taxing the Uber-wealthy, while arguably equitable, does not raise significant amounts of revenue.
GlennR
GlennR
May 2023
7:08pm, 3 May 2023
69,967 posts
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GlennR
I've just had a news alert that the US has raised interest rates over 5%.
lammo
lammo
May 2023
8:30pm, 3 May 2023
11,982 posts
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lammo
I now see that too

Is there anything happening over there that would make it a different scenario here?

Does their impending spending cap issue have an effect?
lammo
lammo
May 2023
11:13am, 9 May 2023
11,990 posts
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lammo
Following my weekend reading i'm now more sure than i was previously that we'll see another rate rise this week.

Also reading with interest about mortgages with no deposit now becoming a thing, and with no guarantor, surely the negative equity issue awaits, i'm sure it will feature in a blog soon GlennR...
HappyG(rrr)
HappyG(rrr)
May 2023
11:23am, 9 May 2023
46,606 posts
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HappyG(rrr)
I heard that from Skipton in radio this morning 100% mortgages.

1. It's with highish interest rate so hopefully there is low risk of repayments going up too much.
2. The affordability checks are much more sophisticated and comprehensive now than in the past, so again hopefully low risk of payments becoming unaffordable.

Do we think base rates will top out at 5% or higher? :-) G
GlennR
GlennR
May 2023
11:39am, 9 May 2023
70,098 posts
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GlennR
Negative equity is only really an issue for people who want to sell. I’m not going to worry about that until we get back to 125% mortgages.

As a comedian once put it “with a 125% mortgage you own less of the house when you move in than when you viewed it”.
lammo
lammo
May 2023
10:50am, 10 May 2023
11,993 posts
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lammo
I don't think we'll see 5%, maybe 4.75, but not 5.

A rise this week seems inevitable.

About This Thread

Maintained by lammo
Interest rates are bound to go up, aren't they?

bbc.co.uk
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