RE: Michael Oliver on Gold22 Oct 2023 14:44
Quady... 'interest rates hurt everyone'?? Not true I'm afraid as it hurts disproportionately those with mortgages and businesses that need credit to cover interim costs or expansion. I'm guessing not too many of you have a young family like myself and a good chunk of my piers. Young families where both parents run fill tilt Monday to Friday to better themselves and its us who have mortgages as we need larger dwellings ideally near good schools to provide the best for our kids, like lm sure many of you guys did for yours. If you want to tackle inflation fairly, do it through VAT or taxation which is more wide-reaching in it's blast zone and therefore less targeted on those who are at a time in life where ideally they need more disposal income, like when their kids are young where they might be able to make life long memories with their families.
I've been lucky and although I've seen our family mortgage rise significantly its had limited impact, but I don't lose sight of how lucky l am and acknowledged the impact I've seen it have on others.
Short election cycles mean no politician is going to wack up vat or tax to tackle inflation and its better to let monetary policy do the heavy lifting and rise interest rates, where in reality a hybrid monetary and fiscal policy is what's needed, but that ain't going to happen.
So for me Q, I poliitly beg to differ.
Anyway, let's hope for a better week in SOLG next week as this SP is pi55 tak3 and one which the management need to start addressing or they're in for a tough time in December. C