The BOE's discussion about a negative base rate had me thinking.
Their idea is to get the banks lending, however what if the idea was applied to us as normal public as well?
The basics would mean that savings accounts would cost money monthly, whereas your mortgage or credit card debt would pay you monthly.
Yes this is a mad idea but follow me for a moment.....
Would this not drive a massive boost in retail, manufacturing, tourism etc.... As people race to spend as much as they can, borrow all they can, and save as little as possible. Then companies would rather dispose of money, borrow where they can, upgrade kit, expand offices, take on staff, boost pay. Etc etc. Crikey even drop prices.
I'm thinking this could turn society on its head... While crazy it might actually be amazing.
No I'm sure it would never and could never happen... But do wonder your thoughts on the upside down world I've tried to describe above.
What do you think?


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