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Last global pandemic of most compare - the Spanish Flu, we had a society that was savings conscious. Past few decades have seen a turn towards interest rates s
by Zenst 7y ago
Last global pandemic of most compare - the Spanish Flu, we had a society that was savings conscious.
Past few decades have seen a turn towards interest rates so low that borrowing over saving has prevailed.
So whilst this may help a little and more so for some, it will do nothing for many who are debt rolling from one payday until another. That without intervention upon loans and debt repayments over this period will cause more chaos and impact.
Though most will need fuel, food and essentials in this time, might be better if you had those delivered to those who are stuck and in direct need.
Otherwise, I wouldn't be supprised if ration books become norm for a period soon. Certainly for toilet roll.
- pbourke 7y ago> Last global pandemic of most compare - the Spanish Flu, we had a society that was savings conscious. Also a society that was emerging from WWI. The mindset was different.
- dhosek 7y agoSavings rates have been going up over the last decade. Some data is available here: https://www.motherjones.com/kevin-drum/2020/03/can-personal-savings-rescue-us-from-an-upcoming-recession/ https://www.motherjones.com/kevin-drum/2020/03/can-personal-...
- Zenst 7y agoWOW, how the interest rate can be higher than the base rate is somewhat interesting. Meanwhile in the UK and many other places the saving interest rate is way closer to the base rate and usually less than that. It's almost as if you could borrow cheap and get interest higher than the interest on the loan, alas an avenue that for many is not as easily accessible, but if you have money, you can make money.