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Eglintine McShoogle

Today's Herald

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Iain MacWhirter has a bit of a following on HPC - he's excellent - ta for the link!

...we are simply preparing the ground for the next bubble and the next bust. We desperately need to create a savings culture in this country, not another round of mega debt - which is what high house prices inevitably lead to. The government appears to believe that a return to house price inflation will please the voters, but a large number of them are young families who can't afford to buy a house. The average age of the first-time buyer is approaching 40.

The government also hopes the high streets will start booming again as people borrow against the rising values of their homes, just as they did in the years until 2007. But housing wealth is an illusion, borne of scarcity. It distorts the economy by diverting investment into speculation instead of into making things and adding value. Worse, high house prices actually depress consumer demand because families are forced to spend their disposable income on rent and mortgages rather than on goods in the shops...

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Excellent article, everything he says is exactly true. So why don't the powers-that-be take notice.

We have a government of self interest who this year have been caught with their fingers in the till.

All our regulation is ineffective and only has the interests at heart of those they are supposed to be regulating, not the end users. How can you expect anything from the FSA when at the height of the boom it had as 2nd in command the ex-CEO of the Halifax? Now the FSA is borrowing £200m from the high street banks can we expect anything other than "carry on lads"?

It was an excellent article.

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The Herald contained a very good article a few months or so back --- it is the near-lone sane voice out there........

Up here it's the ONLY sane voice. The Hootsmon seems to joined at the hip with the ESPC cartel. They only ever seem to break off their anti-SNP tirades (they're a government of sorts, so fair game I suppose) to trumpet the HOUSE PRICE RECOVERY - a bunch of fully paid up Richard Craniums :angry: Eggy.

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Up here it's the ONLY sane voice. The Hootsmon seems to joined at the hip with the ESPC cartel. They only ever seem to break off their anti-SNP tirades (they're a government of sorts, so fair game I suppose) to trumpet the HOUSE PRICE RECOVERY - a bunch of fully paid up Richard Craniums :angry: Eggy.

The good news is that it looks like the Scotsman may be up for sale soon. The bad news is that the prospective buyers are a group of "high-powered Scottish businessmen" comprising two financiers and a property developer (see this Guardian article). I'm sure thing will improve immeasurably if they get hold of it.

Edited by Scunnered

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Excellent article, everything he says is exactly true. So why don't the powers-that-be take notice.

Why?? Because not one of EITHER party (make that all three with Cabels support of toll roads) gives a sh!t about the country, our future and the future of our children and grandchildren. They are political whores, the lot of em. Not one has rhe b@lls of an amoeba (if an ameoba has any-does it?). Judas's the lot of em-dig up Cromwell, see if we can revive him and put the lot of the ******er$ heads on pikes.

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Why?? Because not one of EITHER party (make that all three with Cabels support of toll roads) gives a sh!t about the country, our future and the future of our children and grandchildren. They are political whores, the lot of em. Not one has rhe b@lls of an amoeba (if an ameoba has any-does it?). Judas's the lot of em-dig up Cromwell, see if we can revive him and put the lot of the ******er$ heads on pikes.

:P

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This was the paper with the fantastic article (that Eric alludes to) about MPs expenses and the fact no fecker in Parliament would be inclined to control the HPI for the good of their public because they were all cashing in on it.

THIS IS A MASSIVLY IMPORTANT OBSERVATION THAT SHOULD BE MADE IN THE MAINSTREAM – THIS IS A CRITICAL ISSUE.

Anyways, this is another great article from a paper that obviously has some editorial integrity – they should be applauded for it!

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I tell you, these dum people who are buying this suckers last rally are in for one hell of a shock!

The govt is desperately using all tools at it's disposal to keep things going until they feel they have a chance of winning an election. Then after the election.......BANG! but that is only if they can get that far.

There is a huge distortion in the economy right now thanks to printing of money and zero interest rates. But these must stop soon or inflation will become a serious problem that will f*ck us all!

The only question to me is will the economy rebalance through a massive bust after one last suckers rally,

or will it rebalance through hyperinflation of essential goods.

one way or another it must rebalance!

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