Monday, Dec 08, 2008
More crticism of Brown's desperate attempts to buy votes from homeowners
MSN Money: Can the government save the housing market?
Only just noticed this article from Friday, but I don't think anyone's posted it yet (apologies if they have). Usually ardent property rampers, I was surprised to see this article posted on MSN.
Posted by eyeoftheweasel @ 12:46 AM (454 views) Add Comment
4 Comments
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1. bystander said...
"We won't get out of this recession until consumers have saved a much larger financial cushion and so feel comfortable about spending again. But rate cuts, a shrinking pound and bail-outs funded by higher taxes make the job of building that cushion a lot harder."
......this seems to fly in the face of the popular indebted, HMG view that savers are the reason the economy is tanking. I don't always agree with Mr. Stepek but he seems to understand this problem. hMG want the savers to feel they have to spend and therefore will devalue everything that makes saving worthwhile and then hit them with massive inflation just to inflate their own debt and that of the profligate (Nulabour voters) away. IMHO.
2. str 2007 said...
This makes me bl**dy furious.
You qualify if you have savings of less than £13k.
So if you've been really irresponsible and taken out a £400k mortgage to fund BTL purchases (pricing out FTB's) and then not even saved enough to cover 3 or 4 months interst payments you qualify for a hand out.
Is this health and safety gone truly mad.
Will anybody in this country have to face up to any of their actions apart from people who haven't over extended themselves.
I can truly see no reason in this country to be remotely sensible about anything to do with money as it appears a great big feather lined hand comes out from central government to help out anybody who's been reckless.
I wish no misery on anyone (except BTL Landlords maybe) but this is all getting beyond a joke.
And I mean this seriously - Is there anything to stop the government saying they won't tax anyone for a year if they get into power as a vote bribe.
Who actually oversees rediculous decisions about the economy.
I thought alot of laws etc had to go through the House of Lords to be approved.
Is there not something similar for all these huge spending policies.
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