Oh dear

Cash savers to suffer bigger squeeze than in the Seventies as inflation outstrips interest rates

The Sage of Ely’s advice that we should all be saving in bonds is looking a little painful right now. And as Snippa has told us, he’s entirely in cash…..

9 thoughts on “Oh dear”

  1. Bloke in North Dorset

    “And as Snippa has told us, he’s entirely in cash…..”

    There are two reasons to be entirely in cash, you’re either living in the black economy or a bankrupt.

    Or you just don’t trust the State.

  2. Inflation in the 1970s touched 25% pa. The value of cash worse than halved in 5 years. Only a moron (or a semi-retired tax accountant) would claim that cash savers are worse-off now than in the 70s.

  3. > reasons to be entirely in cash … you just don’t trust the State

    What kind of person doesn’t trust the state, but implicitly trusts them enough to not worry about inflation?

  4. “john77

    a semi-retired tax accountant”

    Please!

    In no way shape or form is or ever was Murphy a tax accountant. That would imply an accountant who specialised in tax. And Murphy most definitely has never specialised in tax.

    Having opinions about tax is not the same as having knowledge of tax.

  5. @ AndrewC
    Murphy’s CV says that he specialised in tax before setting up Murphy Deeks Nolan which specialised in minimising tax paid by “luvvies”.
    Murphy’s knowledge of tax may be limited but then his knowledge of accounting, economics and most other matters is also limited.

  6. What Murphy’s CV confirms that he has no expertise or experience in the areas of large corporate and international/multinational taxation. Same goes for IFRS. Same goes for auditing. Unfortunately, that’s exactly what he spends his time bloviating about.

    At best he was, at one time, a marginally qualified generalist who did accounting and tax returns for small businesses and the self-employed.

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