Is it me or are the press TRYING to create a recession?
Headlines suggesting that
o Home owners are going to be worse off becaue the BOE lower interest rates? How is that supposed to work?
o Borrowers are worse off because banks are withdrawing 100% mortgages (given house prices are falling its responsible to remove them!).
o Banks adjusting their fixed rate mortgage rates out of step with current rates (IE base rate drops but fixed rates rise).
There is a huge problem in banking atm in that the money has stopped flowing. This should not directly affect home owners unless the papers big up the problems! Interest rates are low employment is high, if we dont scare ourselves into a recession then all will be fine. The problem is that the scare stories in the press are forcing people to make rash (and illogical) decisions.
Freedom is something worth taking a bit of pain for but it should be used responsbily. Losing a few newspapers is a price I would pay!
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