John Bull Can Stand 4%

The Credit Strategist Blog

Walter Bagehot, the 19th century editor of The Economist, wrote in an article in the Inquirer on July 31, 1852 that “John Bull can stand a great deal, but he cannot stand two per cent.” He continued:

“People won’t take 2 per cent; they won’t bear a loss of income. Instead of that dreadful event, they invest their careful savings in something impossibl…