[Priced Out Of Housing?] Blame Labour.

[PopGun]

The 2008 Q4 employment increase reflects the classification of the Royal Bank of Scotland Group and Lloyds Banking Group to the public sector (with effect from 13 October 2008).

Ha ha nice one.

[Alan B'Stard MP]

But they steered the ship onto the rocks - how can you not blame them?

Who created the regulatory framework which allowed the bubble to form?

Zeitgeist created the framework. Oodles of potential foreign capital and a desire to make use of it.

The changes to any framework would have been a symptom.

Edited October 12, 2010 by Alan B'Stard MP

[Wahoo]

Those knuts expanded their voting base at our expense.

RESULT.........A degraded country.

There is no such thing as democracy....Just a sham to keep the thickies quiet.

[Rain'ard]

The reason I disliked New Labour is that they tried to beat the Tories at their own game and everyone lost out. They didn't have any opposition to the Tory Buy To Let Scheme. They did nothing to stop the Tory deregulation of the Banks and Buliding Societies. Did nothing to stop thhe Tory idea of people getting mortgages for more than one property. Theye never halted the Tory cheap sell off of public housing. Not a word from them about the unfairly ballanced renting laws of this country brout in by the last Tory Government . All these Tory introductions and factors that has made this country the worst in the world in it's provision for accomodation for it's hard working citizens and New Labour went along with it all.

[Renny]

Good question, who was it? (i'll give you a clue, it wasn't the mad sociopathic scot!)

http://en.wikipedia.org/wiki/Financial_Services_and_Markets_Act_2000

http://en.wikipedia.org/wiki/Bank_of_England_Act_1998

He had something to do with these no?

[tinker]

Good OP.

It really astonishes me that anyone can actually try to blame the last decade on previous governments when those in power had every opportunity to undo the 'harm' done by the Tories. Brown had the reigns of the economy for all those years, bigging up the city, doing magic with money (making it disappear off balance - e.g. Brown's use of PFI), confusing all things fiscal and financial. Crowing about an artificial boom, whilst many of us wondering about the maths were scratching our heads.

After the crash of the 90s, and the ridicule given, I could not believe that Brown would encourage and bath in an even bigger more damaging and crippling bubble.

It's funny that for a good few years we were fooled into believing that Brown was some sort of economic genius.

If in power, we simply don't know what the Tories would have done, having suffered politically for the 90s property crash (their fault), scarred by it, I doubt that they would have allowed a similar thing to happen.

[theonlywayisdown]

In his 1997 Budget speech, Gordon Brown said, “I will not allow house prices to get out of control and put at risk the sustainability of the future”.

Edited October 12, 2010 by theonlywayisdown

[Dorkins]

If in power, we simply don't know what the Tories would have done, having suffered politically for the 90s property crash (their fault), scarred by it, I doubt that they would have allowed a similar thing to happen.

I don't believe for a moment that the Tories would have tried to stop the housing bubble or regulated the City more heavily. I don't remember any of them calling for interest rate hikes while in opposition or warning of the perils ahead. They, like everybody else, forgot the lesson of the early 90s.

[tinker]

I don't believe for a moment that the Tories would have tried to stop the housing bubble or regulated the City more heavily. I don't remember any of them calling for interest rate hikes while in opposition or warning of the perils ahead. They, like everybody else, forgot the lesson of the early 90s.

Don't get me wrong, The Tories were absolutely useless in opposition. However, the backdrop to that is that everybody save a few voices in the wilderness, was lauding Brown as some sort of economic genius who had abolished 'boom and bust' - that is how it looked... The economy was growing, house prices were rocketing, we were buying more stuff, there were plenty of jobs... yet we all know now (as did some then) that the numbers didn't add up, debt was being used to give the impression of us becoming more wealthy and prosperous.

Nobody was asking the simple question: where is the money coming from?

[pablopatito]

If in power, we simply don't know what the Tories would have done, having suffered politically for the 90s property crash (their fault), scarred by it, I doubt that they would have allowed a similar thing to happen.

And yet they didn't think to raise a single protest about it during 13 years in opposition. How strange.

[Rain'ard]

And yet they didn't think to raise a single protest about it during 13 years in opposition. How strange.

Yes spot on. This is because they were doing the Tories work for them as I said in my previous post. Noboby cares in British politics about unhoused people and their struggle. If some of the people took the plank out of their eyes when complaining about the spinter in others they may be able to see the truth. a very old saying but still applies today. Remember the days when you first learnt to drive. Nobody who already had their full licence gave a damb about your problems, about lessons taking your test. They had their licence. This is how other think of those who are challenged by the housing market. It wouldn't occur to them to help anyone else, unless you are lucky enough to be from a family that provides for the future of the offspring they claim to love

[Milton]

[i know a bloke who sells Email Marketing Lists. Also priced out for a decade]

Already have tens of thousands of emails lined up. Including all the UK Student Unions. [And the thousands upon thousands of associated associations, executives, committees, etc etc to the uni's.]

[im sure the younger generations would like to know how Labour have implemented fascist policies, designed to keep them in debt slavery etc etc.]

I estimate, I can easily get over two hundred thousand people to read this in that timeframe. Hopefully each recipient will send it on to others.........And it will not be too time consuming to do this.

I intend to add a number of other issues to this post, ref Labour, and for the next 5 years, I will slowly but surely and methodically chip away at Labour.

I have no political affiliations. Just a bloke who cant get a house, and is sick of having his money stolen. Sick of working for nothing. No capital. Unable to get anywhere, who holds the Labour party responsible. They are beyond disgusting.

Labour have destroyed our dreams and aspirations. I'm not gonna sit back while they rob and rape me.

Edited October 13, 2010 by Dan1

[goldbug9999]

There some very strange leaps of logic going on on this thread ... "it would probably also have happened under the tories, so therefore its not labours fault" - eh ???

I'm sorry but the mere fact that another government might have done the same thing does not absolve them of guilt. The tories were not in power, labour were, therefore its labours fault. End of.

[tomandlu]

There some very strange leaps of logic going on on this thread ... "it would probably also have happened under the tories, so therefore its not labours fault" - eh ???

I'm sorry but the mere fact that another government might have done the same thing does not absolve them of guilt. The tories were not in power, labour were, therefore its labours fault. End of.

Has anyone said that? People have expressed doubt as to whether things would have been any different under the tories, but I don't think anyone's suggesting that that absolves labour of blame.

[Maggot_with_halitosis]

I think it would be very constructive at this juncture to point out that Gordon Brown is considerably more wealthy than you. His pension provision is outstanding. Tony Blair, too. And Peter Mandelson. And John Prescott. To name but a few.

They're all really really rich now - and they're sorted for life with very generous state-backed pensions. Consequently, your opinions don't matter because they don't change anything. Yes, you are an impotent peon and would be best advised to make the best of it.

So let's not argue over "who did what". Let's not continue the blame culture. Let's just draw a line under the past and get back to work. We might not be able to pay off the massive government debt - but we can inflate it away, just as long as MPs annual payrises comfortably exceed RPI levels. .

VOTE LABOUR. Or you're definitely a Nazi sympathiser who would let Margaret Thatcher finger your parts.

Edited October 13, 2010 by THEBIGMAN

[Dorkins]

Has anyone said that? People have expressed doubt as to whether things would have been any different under the tories, but I don't think anyone's suggesting that that absolves labour of blame.

Quite. Labour could have raised interest rates, regulated the banks, and been more fiscally prudent. They didn't do that, and in that sense they are to blame for this mess. However, I am 99% sure the Tories or Lib Dems would have done pretty much the same. In that sense the ultimate blame lies with democratic politics and fiat currency. Like I say, there is no point in firing more arrows into the corpse of New Labour when the Tories also support low interest rates forever. They are in a position to deflate the credit bubble Labour inflated, and they seem completely uninterested in doing it. At the moment it looks like we have replaced an extremely irresponsible government with a merely irresponsible one.

[crash2006]

Sorry but the pensions wasnt the cause of house prices, it was the restriction of socail house building, centralgovernment not allowing council to reinvest from thesale of social homes, which pushed theprivatedemand up. All the other bits werejust the process to help it advance.

[Stars]

The British public's deep, apparently intractable and non-negotiable belief that the owners of real estate should be enriched without effort was an economic disaster waiting to happen. In the last 30 years, parties who didn't heavily reinforce this belief system became unelectable. The British public royally screwed themselves.

[Milton]

Quite. Labour could have raised interest rates, regulated the banks, and been more fiscally prudent. They didn't do that, and in that sense they are to blame for this mess. However, I am 99% sure the Tories or Lib Dems would have done pretty much the same. In that sense the ultimate blame lies with democratic politics and fiat currency. Like I say, there is no point in firing more arrows into the corpse of New Labour when the Tories also support low interest rates forever. They are in a position to deflate the credit bubble Labour inflated, and they seem completely uninterested in doing it. At the moment it looks like we have replaced an extremely irresponsible government with a merely irresponsible one.

Like I say, there is no point in firing more arrows into the corpse of New Labour:

If the coalition ruin the economy over the next five years. And then are replaced by Labour.

Within the first few months of Labour taking office again, would your first response be

'The coalition destroyed us, but there is not point in firing arrows in their dead corpse?!'

And would this continue, On and on in an endless loop of the complete removal of accountability, acquitting all politicians of any party, at any time, of any wrongdoing, regarding the the ruination of our economy, etc, ad infinitum?!!

What a strange way of looking at things. That would not wash in any other area of our society.

Personally I don't believe there should be one rule for them, and another for us. Which is what you seem to be suggesting If you take your logic to its extreme.

That [grubby] lack of personal accountability, was another distinguishing mark of how Labour operated whilst in office.

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However, I am 99% sure the Tories or Lib Dems would have done pretty much the same.

Infuriating [non] argument.

The tripartite system put in place by New Labour to regulate the economy was a direct cause for the financial crisis.

The tripartite system was created when Mr Brown - as chancellor - made the Bank of England independent as soon as Labour came to power in 1997.

It included the Bank of England, the FSA and the Treasury

How can you say that any other government would have created a tripartite system?

[When it seems clear, that entirely the opposite is true? It was the last thing the Tories and the Lib Dems would have done]

Under the Tripartite System, nobody knew who was in charge.

* Lord Vallance, chairman of the House of Lords economics affairs committee. [Tasked to look into the causes of the Crisis]

* "It is clear that in the UK the tripartite authorities of the Bank of England, FSA, and the Treasury failed to maintain financial stability, in part because it was not clear who was in charge in a crisis and because not enough attention was paid to macro-prudential supervision - oversight of the aggregate effect of the actions of individual banks - in the period when 'boom and bust'

* "We need to acknowledge that the regulations and their application contributed to the crisis, and made it worse when it came, because among other things, they had a pro-cyclical bias, did not pay enough attention to liquidity, and were wide open to regulatory arbitrage,"

The decision to make the Bank of England independent handed most regulatory supervision to the FSA, but the committee found there was an inadequate definition of roles and responsibilities at all three constituent parts of the system

It is to be hoped that the government will accept that the tripartite arrangement was a mistake, and that responsibility for the stability of the financial system must be entrusted to an agency with no other role, an agency within the Bank of England which can use its powers to discharge the duty effectively and efficiently. Only then can we be confident that the financial system will be better able to withstand the next financial crisis.

Sir Martin Jacomb. Economics Affairs Commitee.

The failure can be laid directly at the door of the Labour Government.

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I see a fair amount of smoke and mirrors beginning to develop, reference to Labour's 13 year reign of Evil.

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Edited October 13, 2010 by Dan1

[Dorkins]

Like I say, there is no point in firing more arrows into the corpse of New Labour:

If the coalition ruin the economy over the next five years. And then are replaced by Labour.

Within the first few months of Labour taking office again, would your first response be

'The coalition destroyed us, but there is not point in firing arrows in their dead corpse?!'

I would much rather see the Coalition do a good job than watch them fail. That means they have to do things differently to the way Labour did them. As far as I can see, they are not doing that. Where are the plans for re-regulation of the banks? Where is the plan to deflate the credit bubble? How are they going to prevent the bill for the entire thing landing at the taxpayer's door? They are happy to cut benefits to chavs and nurses' pensions, what about the real welfare queens in the City of London?

Did Labour price me out of housing? Yes. Are the Coalition trying to price me back in? No.

[Milton]

I would much rather see the Coalition do a good job than watch them fail. That means they have to do things differently to the way Labour did them. As far as I can see, they are not doing that. Where are the plans for re-regulation of the banks? Where is the plan to deflate the credit bubble? How are they going to prevent the bill for the entire thing landing at the taxpayer's door? They are happy to cut benefits to chavs and nurses' pensions, what about the real welfare queens in the City of London?

Did Labour price me out of housing? Yes. Are the Coalition trying to price me back in? No.

Fair Point Dorkins.

I voted Lib Dem for the first time at the last GE. And I also do not see any specific Tory or Lib Dem policies, which suggest to me they are going to bring house prices within my reach.

But I have not given up on the coalition just yet. I completely agree with your points.

Can anyone put an up to date figure, a close approximation of how many are now priced out of housing?

We must be a very powerful lobby by now.

And growing daily.

Edit: Just do me a favour and stop letting the b@5tards in Labour off the hook so lightly....

Edited October 13, 2010 by Dan1

[Riedquat]

Like I say, there is no point in firing more arrows into the corpse of New Labour:

If the coalition ruin the economy over the next five years. And then are replaced by Labour.

Within the first few months of Labour taking office again, would your first response be

'The coalition destroyed us, but there is not point in firing arrows in their dead corpse?!'

And would this continue, On and on in an endless loop of the complete removal of accountability, acquitting all politicians of any party, at any time, of any wrongdoing, regarding the the ruination of our economy, etc, ad infinitum?!!

There's still plenty of time for riddling the corpse of Labour, for as long as we have to continue with sorting out the mess they've made. The time will come for stopping that when the Coalition will have had a chance to do something about it but didn't. Only then can the blame fairly shift, and if you carry on past that it just makes you look ridiculous (which it did for Labour, who continued to blame the Tories for things they'd had plenty of time to sort out).

[Milton]

Only then can the blame fairly shift, and if you carry on past that it just makes you look ridiculous (which it did for Labour, who continued to blame the Tories for things they'd had plenty of time to sort out).

Just so long as Labour understand, there will never be any forgiveness on the part of the people they have robbed and raped.

[Dorkins]

Edit: Just do me a favour and stop letting the b@5tards in Labour off the hook so lightly....

I can assure you, my contempt for Labour 1997-2010 knows no bounds. They did almost everything important wrong. Quite an incredible performance really.

[eric pebble]

+1 Broon's economic policy served only to rig votes. Nu Labour ruined the country in so many ways, I don't even want to live here any more.

Brown was THE WORST Chancellor EVER - and THE VERY WORST PM EVER. He was UTTERLY, UTTERLY incompetent to say the least - and I am trying to see why I cannot say that he was the MOST EVIL SH1T that EVER ran this country's finances. He either deliberately kept the fire stoked JUST SO that he could become and stay as PM --- or he was TOTALLY DUPED by the banksters. OR both. :angry:

All in all - he was ABSOLUTELY DIABOLICAL for this country -- and I shall NEVER, EVER, EVER forgive Niue Labbia for what they have done to this country. They have DESTROYED us.

THEY ALLOWED THE ROCKET-FUEL TO MASSIVELY STOKE THE FIRE: THIS ROCKET-FUEL WAS LIAR LOANS. THEY DID NOTHING TO STOP THEM. THIS WAS A CRIMINAL ACT.

:angry: :angry: :angry:

Edited October 13, 2010 by eric pebble