Interest rates no where near the 15% they were when Lamont was in charge
actually interest rates will fall again soon and are well managed
Interest rates were at 15 % when Lamont was Treasurer because inflation was spiralling out of control.
The reason they are not at 15% now is because the current Government would have us believe that inflation is under control. They have done this by systematically removing everything that happens to push inflation up. House prices, ooops better remove that, Oil prices, ooops better remove that. True inflation is probably running at around 20 % due to increasing energy, oil, food and peaked house prices. Unfortunately Joe Public has proved to be rather stupid over the last few years and borrowed excessively due to the perceived boom and easy credit. Current result, shed loads of debt, increasing food, oil, energy prices and mortage interest rates much higher then a few years ago. The possible interest rate cuts over the next few months are unlikely to be passed onto Joe Public's mortgage. We haven't even mentioned all the carbon offsetting bollox and the environmentalists who are campaigning that flying is evil. I think we can expect a very heavy landing in 2008.
Bugger really as I start my CPL in July and am studying my ATPLs at the mo. Oh well, ****e happens, nothing ventured nothing gained. Doubt has been ripping me apart for months now and I have finally made my mind up. Despite the backdrop. Mad? Possibly, don't care anymore, sometimes you just have to go with the gut feeling and see where the dice land. Fortunately I have been saving for 3 years and can do it all and remain debt free. Worse case sceanario = Qualified and unemployed but debt free.
