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eric pebble

A Deluded And Chronically Sick Nation Determined To Learn Nothing And Forget Everything From The Crisis

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Larry Elliot of Guardian - he has been consistently good. He ranks high up along with Jeff Randall of The Telegraph - they both hit the nail on the head.

If we're back to business as usual it's curtains for Labour

The crisis was the perfect opportunity to correct postwar economic policy and face down the City's swinging dicks culture.

"The return of property inflation, asset bubbles, private equity deals and the whole big swinging dick culture that pervaded Britain back then does not signify real economic recovery: it is evidence of a deluded and chronically sick nation determined to learn nothing and forget everything from the crisis."

Read all here - http://www.guardian.co.uk/commentisfree/20...-bailout-labour

Excellent stuff.

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Guest The Relaxation Suite
Larry Elliot of Guardian - he has been consistently good. He ranks high up along with Jeff Randall of The Telegraph - they both hit the nail on the head.

If we're back to business as usual it's curtains for Labour

The crisis was the perfect opportunity to correct postwar economic policy and face down the City's swinging dicks culture.

"The return of property inflation, asset bubbles, private equity deals and the whole big swinging dick culture that pervaded Britain back then does not signify real economic recovery: it is evidence of a deluded and chronically sick nation determined to learn nothing and forget everything from the crisis."

Read all here - http://www.guardian.co.uk/commentisfree/20...-bailout-labour

Excellent stuff.

"apart from a million more people unemployed and a further decimation of an already shrivelled industrial base" and a completely ******ed currency, of course.

Good piece. Well before Christmas there will be a different debate in the media involving a lot of use of the words "collapse", "failed stimulus", "great depression", and "total housing market wipeout".

Edited by D-503

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Chronically sick because each of the recessions of the last 30 years has ripped a bit more out of the UK's industrial base and hence aggravated a problem ever-present since the second world war: we consume too much and produce too little.

Says it all really. If you've got anything going for you get out of the UK while you can!

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"apart from a million more people unemployed and a further decimation of an already shrivelled industrial base" and a completely ******ed currency, of course.

Good piece. Well before Christmas there will be a different debate in the media involving a lot of use of the words "collapse", "failed stimulus", "great depression", and "total housing market wipeout".

I think you may be right...if not before Christmas it will be just after the next election at the latest.

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"Labour's pusillanimous approach to the crisis means it will be punished by the voters even if there is a feeble recovery between now and polling day, and it will be left to the Conservatives to pick up the pieces. Needless to say, they are just as clueless."

This is the most depressing but true comment I have seen in the main stream press. Our Big-Brother-watching, MEW-to-shop, ignorant, chavved-up, would-be-property-baron population are so stupid they will never do anything about it.

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According to a Human Geography Professor on R4 this morning, the average wage in the UK has risen this year.

he went on to qualify the remark.

CITY BONUSES accounted for ALL of the rise.

without CITY BONUSES, the average wage will have fallen.

so, 99.9% of the population suffer wage falls, and bail out the remainder, who earn probably 10times the average of the rest.

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Deluded because the over-reliance on debt-driven consumption, speculation and financial engineering was what got us into this mess in the first place. Chronically sick because each of the recessions of the last 30 years has ripped a bit more out of the UK's industrial base and hence aggravated a problem ever-present since the second world war: we consume too much and produce too little.

The above is so true, it's good to see someone in the mainsteam media telling it how it actually is for once. We as a nation are overindebted and need to save more. Both public and private.

We need to purge the debt from the system by having much lower house prices and then rebuild our economy based on sound fundamentals.

MESSAGE TO ALL ESTATE AGENTS, SURVEYORS, ETC.

WE AS A COUNTRY DO NOT NEED HIGHER HOUSE PRICES WE NEED AN ECONOMY BASED ON SAVINGS AND EXPORTS NOT HOUSING BUBBLES AND DEBT.

HOUSE PRICES NEED TO RISE WITH INCOMES NO MORE SO IF THE AVERAGE WAGE GOES UP BY 3% A YEAR THAT IS WHAT HOUSES SHOULD BE DOING. IF WE HAVE NO GROWTH IN WAGES THEN THERE SHOULD BE NO GROWTH IN HOUSE PRICES.

Where we are at the moment is still overvalued by about 20% overall and more in some regions of the country. We need stability not booms and busts.

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......./

Where we are at the moment is still overvalued by about 20% overall and more in some regions of the country. We need stability not booms and busts.

20%?!?

More like 60% mate..... :rolleyes:

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Quite a few people are doing just that, I believe....

I have been granted my Canadian PR subject to medical exams

According to a Human Geography Professor on R4 this morning, the average wage in the UK has risen this year.

he went on to qualify the remark.

CITY BONUSES accounted for ALL of the rise.

without CITY BONUSES, the average wage will have fallen.

so, 99.9% of the population suffer wage falls, and bail out the remainder, who earn probably 10times the average of the rest.

Absolutely unbelieveable...when will the tipping point come, how will it manifest itself...people won't put up with this forever.

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MESSAGE TO ALL ESTATE AGENTS, SURVEYORS, ETC.

WE AS A COUNTRY DO NOT NEED HIGHER HOUSE PRICES WE NEED AN ECONOMY BASED ON SAVINGS AND EXPORTS NOT HOUSING BUBBLES AND DEBT.

HOUSE PRICES NEED TO RISE WITH INCOMES NO MORE SO IF THE AVERAGE WAGE GOES UP BY 3% A YEAR THAT IS WHAT HOUSES SHOULD BE DOING. IF WE HAVE NO GROWTH IN WAGES THEN THERE SHOULD BE NO GROWTH IN HOUSE PRICES.

Maybe then all estate agents should use a flat fee system to stop the incentive to inflate house prices?

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20%?!?

More like 60% mate..... :rolleyes:

Certain parts of the country are probably still overvalued by 60% still but overall my guess is about another 20% down on a national level.

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Excellent article but he didn't go far enough.

I would have also liked to have seen some actual figures on how executive pay has increased over recent years and that a CEO is now paid over 100 times their average worker. This has fuelled house prices rising from top down.

He could have also mentioned about the farce that is compnay directors voting in their own pay and bonuses that amount to "unbridled greed" backed by other institutions who want the favour returning, against the will of private shareholders.

He could have also painted a more detailed picture of what the future will hold if we are back to normal, "ghettos" would be a good starting point.

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Probably because - trying to think of them is so depressing.....

Larry Elliot saw all this coming in his book Fantasy Island

Not a bad book......particularly from someone who writes for the Grauniad.

Loved this bit about David Cameron too

David Cameron prepared for the task of repositioning the Conservative party by acting as PR for Carlton TV in the 1990s. He was described by one business editor, the Sun's Ian King, as a "poisonous, slippery individual" and a "smarmy bully who regularly threatened journalists who dared to write anything negative about Carlton". When you get down to it, this is a country that tries to make its living from talk, talk and more talk.

:lol:

Can't wait for a Cameron government! ;)

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Larry Elliot of Guardian - he has been consistently good. He ranks high up along with Jeff Randall of The Telegraph - they both hit the nail on the head.

If we're back to business as usual it's curtains for Labour

The crisis was the perfect opportunity to correct postwar economic policy and face down the City's swinging dicks culture.

"The return of property inflation, asset bubbles, private equity deals and the whole big swinging dick culture that pervaded Britain back then does not signify real economic recovery: it is evidence of a deluded and chronically sick nation determined to learn nothing and forget everything from the crisis."

Read all here - http://www.guardian.co.uk/commentisfree/20...-bailout-labour

Excellent stuff.

It's all down to morals.

Either the current population pays for the mess to be cleared up or we ignore it and let the next unborn generation pay for it.

What's it to be folks ?

Should WE grasp the 'moral' metal and and be heralded as the Britain's that sacrificed their wealth for the good of our unborn children ?

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It's all down to morals.

Either the current population pays for the mess to be cleared up or we ignore it and let the next unborn generation pay for it.

What's it to be folks ?

Should WE grasp the 'moral' metal and and be heralded as the Britain's that sacrificed their wealth for the good of our unborn children ?

Let the beneficiaries of the bubble pay the costs it has inflicted on others

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Let the beneficiaries of the bubble pay the costs it has inflicted on others

Quite so, but there's no easy mechanism to do that. And the beneficiaries have converted their ill-gotten gains into property portfolios, or p1ssed it up against the wall buying private education and consumables. And if Eric has his way on property prices (though I think he's dreaming there), there won't even be big HPI profits that could conceivably be taxed to retrieve the 'money' they've gained.

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Well before Christmas there will be a different debate in the media involving a lot of use of the words "collapse", "failed stimulus", "great depression", and "total housing market wipeout".

God D-503.....i love it when you talk dirty!

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Larry Elliot of Guardian - he has been consistently good. He ranks high up along with Jeff Randall of The Telegraph - they both hit the nail on the head.

If we're back to business as usual it's curtains for Labour

The crisis was the perfect opportunity to correct postwar economic policy and face down the City's swinging dicks culture.

"The return of property inflation, asset bubbles, private equity deals and the whole big swinging dick culture that pervaded Britain back then does not signify real economic recovery: it is evidence of a deluded and chronically sick nation determined to learn nothing and forget everything from the crisis."

Read all here - http://www.guardian.co.uk/commentisfree/20...-bailout-labour

Excellent stuff.

That guy is consistantly communist.

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