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House Price Crash Forum


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About nothernsoul

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  1. I agree totally, it isn't even a thesis, it is almost empirical fact. Heard someone describe financial repression as taking money by stealth from those that have it and giving it to debtors. The problem governments have found this year with such high inflation is the stealth bit.
  2. Don't forget public sector buildings. Budgets for schools and the like will need to be increased, otherwise staff will need to be let go. Think of all the classrooms in a secondary school that need to be heated all day.
  3. The purpose of the poll tax was radical. More so than anything the Labour party has ever done. Two fold. First, in a practical sense, it was intended to remove taxation from wealth( as far as I know there has always been tax on property wealth in some form or another going back to the Norman conquest).Thatcher had already reduced taxation on income already and this was the next step. Secondly, it was to attack the more left wing view of graduated, progressive taxation, and replace it with a flat charge. Poll tax was officially called " community charge", even though a charge is something paid for things you specifically use( eg utilities), while council services are too numerous to fulfil this definition.
  4. This is the problem with suggestions of tax cuts, besides inflationary issues. The current levels of taxation don't cover expenditure in a "normal year". But we aren't having "normal years", we have record peacetime borrowing due to covid, then another 9 billion handed out due to cost of living and so on.
  5. I don't like Liz Truss at all. She sells herself as a conviction politician but if you look at her history, her beliefs consistently seem to serve Liz Truss. I don't think she is thick, but if I was a Conservative party member and I wanted to choose a candidate with most chance of winning next election, there are at least three of the other candidates I would have easily picked over her.
  6. Lots of advantages Thatcher had in dealing with inflation that the present conservative government doesn't. Thatcher had a dual agenda, to bring down inflation and destroy the power of the organised working class. She had support in this, from business who were tired of their profits being eaten up by inflation and wages, and the middle class who would tolerate the discomfort of higher interest rates to quell industrial unrest. The destruction that these policies wrought mainly fell on Northern industrial towns that didn't vote Tory. Today it would fall largely on the property values of the Conservatives core vote in southern England. Overall debt levels were also much lower in the early 80s, demographics were more favourable( a lot less pensioners due to low inter war birth rate compared to the age the baby boomers are at now) plus money from North Sea oil and privatisation revenues. Finally, Thatcher had fresh ideological energy, built up over the 70s in think tanks and within the Conservative party. She was there at the start of neo liberalism, while we are at the fag end of it.
  7. I don't know enough about those other countries to put forward a theory based on anything except conjecture. What all those countries have in common with the UK is years of ultra low rates, now facing rises. However, I doubt all those other countries have as many props and every other factor designed to keep prices up; help to buy, stamp duty removal, restrictive planning and low levels of building, very light taxation of property( most US states is a lot more). We also have a ruling party that stays in government by appeasing the elderly and home owners.
  8. Charging for missed appointments would be thin end of the wedge with charges for a doctor's appointment next. I imagine those on benefits and pensioners would be exempt, making it just a tax on working people. In general, I would imagine those who are working full time, paying tax, are those least likely to visit the doctors anyway. If you are busy, the last thing you want to be doing is making appointments and sitting in a waiting room unless it is totally necessary.
  9. Politicians and BOE to blame for this. Not cooling off property market way before this happened, in fact any time the market looked to be cooling throwing something else on to the fire.
  10. To be fair to Sunak, he is promising tax cuts in a few years not now. He has obviously realised that his attempts to appeal to the fiscally responsible side of the Conservative members was naive(suffering is for other people), and this comes a distant second to self interest.
  11. Two factors will have prompted this. The major housebuilders don't want to start loads of major developments in foreseeable future due to the obvious uncertain economic outlook will have on their profits. Second is libdems recently winning seats in Tories southern heartlands over nimby issues. Regarding grammar schools, all the years the Conservatives have been in power, including under Thatcher, they could have brought grammar schools back but didn't. If it was such a wonderful vote winner they surely would have done.
  12. Remember furlough was tens of billions spent to maintain the status quo, as were the bail outs during the financial crisis alongside ultra low rates. Trying to use all that money to improve society wasnt a priority. To me, this suggests something is wrong with the status quo.
  13. I have no inside knowledge, but clearly 99p was an important price point for them and raising it above £1 would have been done reluctantly. It is very possible that the profit on the cheeseburger was minimal, or break even, with intention of drawing in customers( maybe parents who want something cheap for kids) and profit is made when they purchase other more expensive items
  14. I can't imagine why anyone would choose to vote for Liz Truss in a contest. But people will. By the same token there must be people who have watched the film Election and think that Tracy Flick is the heroine.
  15. I read some quotes from anonymous Tory MPs regarding nastiness of the contest. One mp said that Sunak and his allies were motivated by desperation at being behind in the polls, while such tactics are simply what Liz Truss does.
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