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rossjamesparker

Listed below are comments made by rossjamesparker between Thursday, 4th December 2008 and Wednesday, 14th January 2009.

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But is it art? 09:22am on 14 Jan 2009 I love this artwork. Controversial, funny, well executed. Hats off to Cemy.
Why punish savers? 12:16pm on 04 Dec 2008 I'm a saver and I don't feel punished. Why not?

Well, instead of spending every penny I had when credit was loose, I saved up for things. As the interest rate climbed, because the the Bank of England was trying to fight inflation, saved more and earnt higher interest rates.

Now the interest rate is dropping to deal with (possible) deflation and (current) recession. This makes savings less attractive. However - and here's the important point - the things that I was saving for are now cheaper.

In the past month, I have got 20% off a new wardrobe of suits (saving me about £300) and new oak bedroom furniture at half price. And the discounts are getting better.

So savers, stop whinging. You may not be making as much interest in the bank, but you won't need as much to buy the things you are saving for - unless you're planning to go abroad and need foreign currency, that is.

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