Banks are ruined

Story link: Banks are ruined

I actually know a property investor who has around five large properties on a discounted tracker rate, meaning he pays around 0.4% below the current BOE base rate, will be an interesting concept to be paid for renting out five properties!

Banks are ruined

New year is a time for new beginnings; for resolutions; for sweeping out the old and making a fresh start. But never before has the turning of the year brought such a transformation for the economic landscape. When the sun rises on January 1, it will do so on a world which has changed beyond recognition, a world in which interest rates are no longer the chief tool for economic policy-making and helicopter drops of money are the modus operandi; in which the banking system – that once-great foundation for the global economy – is on the brink of nationalisation; and in which the big question is not how much wealth the economy is capable of generating in the coming 12 months, but whether it faces a year or a decade of recession.