Sunday, Jul 05, 2009
Video of John Major on the Andrew Marr Show
BBC News: Video: 'We have never seen anything like this'
Former Chancellor and PM speaks out on the state of the economy in an interview with Andrew Marr. He tells it like it is...no spin...but hard facts. Anyone planning to take out a mortgage now or in the near future take note.
Posted by hotfoot @ 03:07 PM (1330 views) Add Comment
8 Comments
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1. alan said...
"Whoever tells it like it is may be punished by the electorate". John Major thought that was a distinct possibility in the short term.
..so maybe the electorate gets the disaster it deserves? ...so, looking ahead....not much joy moaning about the captain of the Titanic when you are up to your armpits in freezing water!
2. inflation is eating my savings said...
softening us up for a decade of high taxation and high unemployment
Mr. Warm Beer, English Cricket and arms dealer tells it how it is.
3. gone-to-colombia said...
John Major or what ever his name is, shiver.
Hate to say it, he's right.
4. dbc reed said...
Beyond saying the completely obvious,his only concrete proposal is to reduce the number of ministers.Big deal.Up there with Cones Hotline .What a lightweight!
5. george monsoon said...
Try this
http://www.aboutproperty.co.uk/news/house-prices/house-price-crash-very-unlikely-$459310.htm
Slightly off topic for this Blog thread, but relevant in the whole "housepricecrash" move..
I had to laugh.. I even posted a comment..
6. techieman said...
George M - your reference - i like "When thinking about buying a house, potential house buyers do not compare their income to the price of a house. Rather, they compare their income to their annual mortgage payments. With interest rates at or below five per cent in recent years, mortgages remain affordable when compared with the early 1990s," Mr Said explained.
Thanks Mr Said. So in what sense of the word "thinking" do you actually mean - cause guess what they aint!
7. techieman said...
Most sense he's ever made! - Just shows you what the shackels of power being removed does. Not sure about the socks though John!
8. techieman said...
dbc Reed - i think you will find the electorate are in general completely oblivious to the obvious. JM comes across as someone without a political agenda (maybe thats a con but i dont think so). "his only concrete proposal is to reduce the number of ministers" not true - thats a means to an end hes suggesting contracting the public sector based on a sort of trickle down theory.
In practice its unlikely that the manifestos on which the next election will be fought will try to rationalise the repayment of debt via the contraction in public spending and/or in the increase in tax. Thats why we will only address this properly when there is a crisis. Thats not gonna happen next week but - all things being equal - it will happen probably into the next parliament, although it could be sooner.
Since we - as a nation - have spent so long buying "things" beyond our means i.e. most of which on non self liquidating credit, we are used to living this way and have generally not felt the pain associated with debt default, liquidation, etc. We are in for a rude awakening......