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UK: Millions 'Forced Into Gambles' By Low Rates

Wednesday, September 4, 2013 - 7:00 PM
Britain’s “blinkered” policy on interest rates is forcing savers and borrowers to take dangerous gambles, a former government adviser warned today.

Dr Ros Altmann, a former Downing Street consultant, said the Bank of England is driving savers and borrowers to take "too much risk” by keeping Base Rate at 0.5pc.

Many who rely on the income from their nest eggs are pulling the money out of cash accounts and putting it into more volatile shares, bond and other investments, figures indicate.

Millions 'forced into gambles' by low rates - Telegraph
ShorebreakShorebreak2,686 posts since
Apr 6, 2010
Rep Points: 14,567
1. Wednesday, September 4, 2013 - 8:30 PM
I would eat oatmeal, french toast, toasted cheese sandwiches and boiled eggs before I would gamble with money needed for income. This is 1998-2000 all over again when they told retirees with a pension to take a cashout put it in the market you can take 6% to 8%  out every year and live like a king. Remember Dow 30,000 by James Glassman, Remember Lou Dobbs and Larry Kudlow? 
Ally6770Ally6770937 posts since
Jan 16, 2010
Rep Points: 2,727