In message , Mark
writes
On Thu, 21 Feb 2013 09:40:47 +0000, Broadback
wrote:

On 20/02/2013 23:48, Dave Plowman (News) wrote:
In article ,
bert ] wrote:
Just to come vaguely back onto group topic, pensioners have to hire
people to do more jobs for them which younger people can DIY

That may be the case at some point, but you don't automatically become
decrepit the second you get an OAP.

As an OAP I find it odd that as, on average, high savings accounts,we
are penalised by inflation eating the value away

Inflation affects everyone. Many working people have had little or no
pay rises (and some have had pay cuts) over the last few years.

while interest rates
are kept low so that the provenders can have it relatively easy. Who is
subsidising whom?

The poor subsidise the rich. Borrowers always pay higher interest
rates than savers get.

Anyway low interest rates are essential in preventing the financial
crisis being much worse.
But the law of diminishing returns applies. Businesses always moan about
interest rates just as farmers always complain about the weather.

The one financial institution which isn't restricting its lending hand
has been unaffected by any crisis has very high interest rates - the
credit card companies.
--
bert