To raise a point I didn’t make this morning responding to Ros:
The rate of total individual insolvencies per 10,000 adults in England and Wales followed an increasing trend from 7.2 in 2000 to a peak of 30.9 in 2009; since then the rate has fallen each year to 24.5 in 2012.
She floated the idea that a low interest rate environment is good for borrowers, but harms creditors. That isn’t the case at all.
A zero interest rate environment today means a depression and that isn’t good for debtors or creditors. Or workers. Or bosses. And yet it pootles on.