Thursday, Apr 24, 2008
Why the housing crash will topple Gordon Brown
MoneyWeek: Why the housing crash will topple Gordon Brown
Gordon Brown knows his political survival depends on house prices not falling. It shows that if you hitch a ride on a bubble when it’s on the way up, you should be prepared for when it inevitably pops...
Posted by damien @ 04:10 PM (1107 views) Add Comment
13 Comments
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1. Rental John said...
Topple Brown or topple Labour?
If topple Brown - then who replaces him - the list does not give much hope www.guardian.co.uk/politics/page/2007/dec/10/1
If topple Labour - who ever wins will constantly refer to the failures of the last Labour government....like the Labour mantra ' Since '97.....'....while doing nothing constructive.
As is the case in the USA - whoever wins the presidential race....will inherit a real mess...poison and chalice sounds the easy way out!
God help us all....
2. renting2 said...
TB rode the bubble up, and is getting free train rides down the other side. Don't think our Gordy will be so lucky.
3. greytornado said...
One should never laugh at the misfortunes of others, but Brown really is a pompous ass, full of his own piss and importance. I don't think I will be the only one laughing as we watch him crash and burn.
4. Axxo said...
@@@@ every investment banker that sold shite mortgage securities at AAA standard and got us into this credit crunch when they were worth naff all!!
@@@@ all Labour & government officials for spending all our hard earned cash in the good years leaving nothing for the hard times, and pushing inflation to over 15% and reporting it at 2.5%...
@@@@ the bank of England staff for not enforcing their powers over the banks lending money Willy nilly and committing every single on of us to £150billion worth of bad debt!
INSERT ANY WORD YOU LIKE INPLACE @@@@
5. Unbeliever said...
greytornado - He won't crash and burn. There are probably a number of grateful banks already lining up the job offer with its six figure salary. Its the UK tax payer and desperate who have been encouraged to borrow excessively during the last 5 years who will crash and burn
6. enuii said...
Trouble is his efforts at bucking the market to save his skin will drag us all down one way or another.
7. plato said...
Why ?...........................Governed by headless chickens advised by gutless wonders,protected by legal liars.
8. hpwatcher said...
GB has shown nothing short of criminal negligence in his mismanagement of the economy.
To declare ''no more boom and bust'' and then preside over the biggest housing boom - and bust - in living memory, is beyond any kind of intelligent comprehension.
Is there anything going on in his stupid head at all?
9. plato said...
hpwatcher said...
"To declare ''no more boom and bust'' and then preside over the biggest housing boom - and bust - in living memory, is beyond any kind of intelligent comprehension."
Classic--------- (copyright it hp -- someone is bound to make it a news headline)
10. Gbain said...
Well written article and to the point.
11. planning4acrash said...
Like Blair, he'l get a pension from j p morgan. Coz that's who he works for!
12. mark wadsworth said...
Funny isn't it?
On the one hand, we always knew that Labour's tax and spend would grind to a halt in the end.
On the other hand, we knew that the house-price bubble and credit bubble would go *pop*
It never actually occurred to me that the latter would happen first, and far more savagely at that.
Hey, we live and learn.
13. A Saver said...
Well said, All (especially Axxo)!
But how have they (the people mentioned by Axxo) been getting away with all this?
I'm recently back from working abroad for over 10 years and just cannot believe the crap that we British put up with - being fed blatantly obvious lies from the government, propaganda from various VIs through the BBC news and other media, property porn programmes etc. Why aren't people complaining to the Broadcasting Standards, polititicians etc, demonstrating against housing market bailouts etc? You really do start to wonder about something in the water...