Jasbar wrote:
Dusty Bin wrote:
Jasbar wrote:
This is BoLLOX.
Problem is that your bollox completely misses the point of my bollox
Well my point was about monetary policy for one country being inappropriate for another country at a different point in the economic cycle - higher interest rates necessitated by a high growth rate in Germany would only worsen things in a recession hit Ireland, for example.
Your point is essentially about unfairness in the different cost of money as between different classes of borrower. I don't necessarily disagree with this, but it's essentially a different point to the one I was making.
And offsetting the point you make about interest on credit cards, many mortgage borrowers have gained significantly in the low interest environment of the last couple of years, hence helping to keep the economy afloat.
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