[collyw]

The UK is pretty much copying the US with low interest rates. It was recently reported that since 2007, the richest thousand people in the UK have doubled their net worth, while normal people are suffering austerity.

My assumption is that they haven't worked twice as hard. And as the UK economy isn't really picking up, they clearly haven't added double the value to it.

[gutnor]

Low interest rate are good thing for normal people. Normal people do not make significant amount of money from the interest of their savings, at least not enough to offset the cost of the money they need to borrow for their mortgage, car/student/credit car loans, ...

The only problem that may have caused in the UK is making the ISA account look less attractive, which could impact the rate people save. (the money you put on your ISA is 'locked away', which mean you are less likely to spend it)

[runamok]

> It was recently reported that since 2007, the richest thousand people in the UK have doubled their net worth.

Based on the rule of 72 (https://en.wikipedia.org/wiki/Rule_of_72) that sounds about right for that time frame. 72 divided by 8 years is 9% per year.

Keep in mind that wealth is probably mostly on paper and could disappear just as easily.