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300 Years Of World History Was Just A Blip


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Now they are going to print money without causing inflation

And the more money they print the more bright and prosperous our future will be.

Anyone else really, really angry about this?

Because I am, that's why I can't stop F*cking swearing

All you Nu Labour drones out their can vote for this if you like

But you will condemn yourself and your children to at least a decade of hardship.

The next 10 years are currently being p*ssed up the wall in a vain attempt by Gordon Brown to save his own neck - but which the rest of his party see as a scorched earth policy designed to ensure the worst recession since the 1930's during the next Conservative term in office.

This would give the Tories one term in government, then a generation in opposition

Which, if anyone is wondering is why Cameron and Osborne are absolutely desperate to spell out to the electorate just what a massive hole we are going to be in.

:angry:

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When Brown said "No more boom and bust" What he meant to say was "Nu Labour and its chief cohorts will have everlasting boom, because we are filling our pockets."

Blairs, Hoon, Brown, Darling, Mandelson - all now have multi million pound property empires.

Quango chiefs on 400K a year and no sign of cut in pay in terms of hard times.

Kinnocks and other Labour supports on the Euro gravy train.

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The political parties understand that boom and bust is an integral part of Capitalism.

The best they can do is time the cycles to their benefit. So New Labour has precided over the boom, stoking it up keeping it going to wring every last drip

of benefit out of it and will hand it over to the Tories for the fallout of the bust. And I think it actually suits the Tories because they are a party of recessions and it gives them the opportunity to do the sort of things they like to do. That is cut back big government and privatize public services.

The Tories and Labour are like a double act, good cop and bad cop. The rich benefited the most from the boom and under the Tories will make sure they keep hold of the wealth they accumulated. Its win/win for the politicians and the rich and lose/lose for the majority of working people.

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I agree with the OP but you are slightly ignoring the international dimension.

Why did pretty much the same things happen in Europe, America and even China (note increasing money supply faster than US now)?

All this credit creation was a mask to hide the imbalances of Globalization as China held its interest rates too low and exported to the world they distorted international inflation. If the US really was the "leader of the free world" they would have placed trade embargoes on China in protest, but they didn't.

Why?

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Marvellous, except it isn't.

it's part of fractional reserve banking.

Yes it is an inevitable consequence of the system.

Only an idiot or a liar could claim to have abolished boom and bust.

However, if we are honest about the limits of the system, it is the only one that can ever hope to give the majority of people a reasonable standard of living.

The alternative is going back to living in caves.

:)

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I disagree

The booms n busts are caused by an unacknowledged freebie built into our system of property

Nope, can't be.

Why?

because the freebie existed in the states when they didn't have FRB, but boom and bust didn't happen. Once the banks were let rip, they went into boom bust cycles.

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Nope, can't be.

Why?

because the freebie existed in the states when they didn't have FRB, but boom and bust didn't happen. Once the banks were let rip, they went into boom bust cycles.

You are talking about prior to the 1800's, when rents for a large part of the us were still zero (or near to it). The freebie for most of the us was zero.

Edited by Stars
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I agree with the OP but you are slightly ignoring the international dimension.

Why did pretty much the same things happen in Europe, America and even China (note increasing money supply faster than US now)?

All this credit creation was a mask to hide the imbalances of Globalization as China held its interest rates too low and exported to the world they distorted international inflation. If the US really was the "leader of the free world" they would have placed trade embargoes on China in protest, but they didn't.

Why?

The credit boom in the US was allowed to rip after 9/11 to counter negative effects of the act itself and to pay for the wars that followed.

In Europe the credit boom was allowed to rip to pay for rapid expansion of the EU in a desperate attempt to fill the power vacuum created in Eastern Europe by the collapse of the Soviet Union.

IMO the unhappy coincidence of these two events will cause the worst depression the World has ever seen.

As far as I can see we are only just at the beginning of this process.

We have had the original crash and we are now in the second phase - a mini boom created by the unprecedented rescue package.

This second bubble will also inevitably burst and we will then move into the third phase.

All this has happened before and it will happen again.

Unless of course we accept that the last 300 were a 'blip' and that we are the first generation that can defy history.

Personally I doubt it.

:blink:

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Nope, can't be.

Why?

because the freebie existed in the states when they didn't have FRB, but boom and bust didn't happen. Once the banks were let rip, they went into boom bust cycles.

We have always had boom and bust and asset price bubbles - they are part of the system because they are driven by greed and self-delusion which will exist as long as we are human.

As I said in another thread Isaac Newton arguably the finest mind that ever lived lost a fortune in the South Sea Bubble in 1720.

Ironically he sold and took a handsome profit at the start of the bubble - but as it continued he bought back in and lost everything.

Basically greed renders most people idiots and that is why history will keep repeating itself.

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You are talking about prior to the 1800's, when rents for a large part of the us were still zero (or near to it). The freebie for most of the us was zero.

it still is.

For large tracts of the US the cost of buying a house has always been the cost of building a house. Vast tracts of empty land are everywhere.

They still bubbled, because of FRB.

Edited by Injin
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When Brown said "No more boom and bust" What he meant to say was "Nu Labour and its chief cohorts will have everlasting boom, because we are filling our pockets."

Blairs, Hoon, Brown, Darling, Mandelson - all now have multi million pound property empires.

Quango chiefs on 400K a year and no sign of cut in pay in terms of hard times.

Kinnocks and other Labour supports on the Euro gravy train.

So true!

The ZaNu drones have the front to still talk about a few corrupt Tories with cash for questions and the odd orange in their mouths, while the inescapable truth is that they have overseen more corruption and debasement of our political and economic system than at any other time in modern history.

Middle and upper class socialists with pathetic guilt complexes wanting to make themselves rich while kidding themsleves they are doing it for the people...........hypocritical scumbags.

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So true!

The ZaNu drones have the front to still talk about a few corrupt Tories with cash for questions and the odd orange in their mouths, while the inescapable truth is that they have overseen more corruption and debasement of our political and economic system than at any other time in modern history.

Middle and upper class socialists with pathetic guilt complexes wanting to make themselves rich while kidding themsleves they are doing it for the people...........hypocritical scumbags.

This brings to mind Alf Garnett's preference for having a "proper Tory toff" in charge of the country on the grounds that such a PM would be rich enough already and so "wouldn't have to fiddle the books."

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This brings to mind Alf Garnett's preference for having a "proper Tory toff" in charge of the country on the grounds that such a PM would be rich enough already and so "wouldn't have to fiddle the books."

Does it? Well if you like stereotypes perhaps ;)

Try it this way; the Tories in office were IMO fairly sordid and corrupt at the end, Liebour on the had have been extremely sordid and corrupt from the start (as well as miserably incompetent), but insist on patronsing us with their crap about being the party of the working man while doing it.

Maybe it's just me but I find that about 100 times as offensive.

Seeing Mandelslime sing the Red Flag dirge with his solid gold watch on was utterly nauseating.

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Does it? Well if you like stereotypes perhaps ;)

Try it this way; the Tories in office were IMO fairly sordid and corrupt at the end, Liebour on the had have been extremely sordid and corrupt from the start (as well as miserably incompetent), but insist on patronsing us with their crap about being the party of the working man while doing it.

Maybe it's just me but I find that about 100 times as offensive.

Seeing Mandelslime sing the Red Flag dirge with his solid gold watch on was utterly nauseating.

It's always been like that.

The difference now is you have the internet.

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The political parties understand that boom and bust is an integral part of Capitalism.

The best they can do is time the cycles to their benefit. So New Labour has precided over the boom, stoking it up keeping it going to wring every last drip

of benefit out of it and will hand it over to the Tories for the fallout of the bust. And I think it actually suits the Tories because they are a party of recessions and it gives them the opportunity to do the sort of things they like to do. That is cut back big government and privatize public services.

The Tories and Labour are like a double act, good cop and bad cop. The rich benefited the most from the boom and under the Tories will make sure they keep hold of the wealth they accumulated. Its win/win for the politicians and the rich and lose/lose for the majority of working people.

The "rich" who accumulated their wealth during the property boom are of all social classes. It's not about class anymore, it's just about when you were born. The nice part of my area is full of 40s + working class people with nice houses. Younger professional types, including the middle class, are the ones living in the dog box flats.

It's when you were born now, not what class you were born into.

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What's the boom and bust like in the muslim world?

Plenty of rent seeking, religious fundies and massive states there. They aren't so hot on FRB though......

http://www.propertywire.com/news/middle-east/real-estate-rules-saudi-arabia-200903112768.html

"The ban is part of a series of measures aimed at curbing rampant speculation in the real estate sector and the start of putting in place measures to protect buyers from being exploited."

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