The housing market : howitends.co.uk
Low interest rates, that do not reflect the real level of inflation, will encourage some people to borrow but the consequence is that saving is pointless for the rest. This is why the level of saving by individuals is now at a record low.
and from another page...
Feel better now?It is the middle classes who are the savers and they are the ones who suffer during an inflation bubble. At the end of this current crisis it will be the middle classes who will be significantly worst off. Saving is a State sponsored swindle that takes as much as it can from those who are too innocent to evade it. By the continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily so it is a ubiquitous hidden tax.
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