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Uncontrollable Boom In Housing - David Cameron P M Qs


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Have noticed a trickle of media coverage starting to question the wisdom of HPI in recent months. Expect this to grow in coming months, as media hacks pretend that they knew it was a bubble all along...

:lol: Very good point RR. I think you are absolutely right there.

It is OK. I won't mind. As long as they talk prices down, I am fine with it.

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I watched 10 minutes of PMQs and had to switch off. Why are the Tories being so "gentlemanly" about criticising the previous government? They really don't seem to want to nail them. Why didn't Cameron say "housing bubble" rather than "housing boom"? Why didn't he mention fraud and liar loans? Why didn't he specifically say the Labour government encouraged people to take on massive debts to buy overpriced houses and the banks boomed accordingly? Why doesn't he just say that Labour ran the economy into the ground and that you can't carry on borrowing and pissing money up the wall to pretend to create real sustainable jobs?" Why put the pain and bad news off? Why maintain the delusion? (sorry for so many questions!)

Because if they let rip with the truth about how badly Labour have shagged the economy, investor confidence would collapse.

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I watched 10 minutes of PMQs and had to switch off. Why are the Tories being so "gentlemanly" about criticising the previous government? They really don't seem to want to nail them. Why didn't Cameron say "housing bubble" rather than "housing boom"? Why didn't he mention fraud and liar loans? Why didn't he specifically say the Labour government encouraged people to take on massive debts to buy overpriced houses and the banks boomed accordingly? Why doesn't he just say that Labour ran the economy into the ground and that you can't carry on borrowing and pissing money up the wall to pretend to create real sustainable jobs?" Why put the pain and bad news off? Why maintain the delusion? (sorry for so many questions!)

Because they were pushing the same policies and accusing Labour of not going far enough at the time?

I don't know where this image of fiscal responsibility you project onto the Conservatives actually comes from as it is neither reflected in their words or actions.

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I watched 10 minutes of PMQs and had to switch off. Why are the Tories being so "gentlemanly" about criticising the previous government? They really don't seem to want to nail them. Why didn't Cameron say "housing bubble" rather than "housing boom"? Why didn't he mention fraud and liar loans? Why didn't he specifically say the Labour government encouraged people to take on massive debts to buy overpriced houses and the banks boomed accordingly? Why doesn't he just say that Labour ran the economy into the ground and that you can't carry on borrowing and pissing money up the wall to pretend to create real sustainable jobs?" Why put the pain and bad news off? Why maintain the delusion? (sorry for so many questions!)

It must be for fear of scaring the horses - "PM says houses are too expensive", "PM says people should have less debt"...followed a few months later by "housing market crashed due to Cameron". But what it means is that Labour are getting away with it and the Tories will be getting the blame for the recession. I thought Cameron made it far too easy for Miliband today. If he carries on like that it'll be a Labour government at the next election and all bets will be off with the IMF booking their tickets to Heathrow.

Because the Tories failed to oppose all that at the time.

Only Vince cable was warning against the personal credit bubble and house prices bubble.

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If Davlie Cameron thinks Labour created an uncontrollable housing boom why was he trying to prop it up in opposition and what has he done to deflate it since he came to power?

Referring to a stamp duty cut on homes under £250,000 for first-time buyers - which is similar to Tory plans - Mr Cameron asked: "Where on earth did they get that one from?

"He came in as chancellor copying our inheritance tax cut, he leaves as chancellor copying our stamp duty cut."

http://news.bbc.co.uk/1/hi/uk_politics/8585385.stm

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Yes but what will they do about it? Correction over the next 10 or 20 years ... need to protect the banks.

I think it will be faster than Shapps 2%/year.

...Just five years too late.

Where was he when it was going on?

Oh yes - in opposition - he should have been shouting it from the rooftops then. Now, it's too late.

I fully agree with you there. They were utterly incompetent.

Osborne bought a £1.85m house in 2006!!!

Edited by Tired of Waiting
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Have noticed a trickle of media coverage starting to question the wisdom of HPI in recent months. Expect this to grow in coming months, as media hacks pretend that they knew it was a bubble all along...

Exactly and the more they do it - the more we dig up their previous 'vi HPI mode' buiishlte to discredit them!

Edited by erranta
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I wonder how many of the pundits will pick up on Cameron's referral to the "uncontrollable boom in housing".

Here we go:

http://www.independe...ts-2194912.html

Mr Cameron mocked Mr Miliband's claim that the Government had been left a "golden inheritance" by the Labour administration.

"This is one of the most laughable propositions I have ever heard put in the House of Commons," he said.

"We won't forget the fact that we had the biggest budget deficit in the whole of Europe.

"We were spending £120 million every day just on the interest on that deficit."

Referring to Mr Miliband and his new shadow chancellor, Ed Balls, who both worked for Gordon Brown in the Treasury, the Prime Minister said: "We inherited a situation where, because of the regulation carried out by those two gentlemen when they were in the Treasury, we had the biggest boom and the biggest bust in our banking system.

"We had a growth model that was based on uncontrollable boom in housing, uncontrollable boom in financial services, uncontrolled public spending and uncontrolled immigration.

"A completely bust system we inherited from the two people who worked in the Treasury throughout the last Labour government."

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Excellent!

Once more (just because :) )

Cameron, at PMQ today:

"We inherited a situation where, because of the regulation carried out by those two gentlemen when they were in the Treasury, we had the biggest boom and the biggest bust in our banking system.

"We had a growth model that was based on uncontrollable boom in housing, uncontrollable boom in financial services, uncontrolled public spending and uncontrolled immigration.

"A completely bust system we inherited from the two people who worked in the Treasury throughout the last Labour government."

Edit to add:

:D:D:D:D:D

Edited by Tired of Waiting
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All very well but the opposition (in support of labour policy) said booger all!

Ditto to the hundreds of laws introduced which have left UK citizens with less rights than a C13th village idiot (who had to be given a trial and judged by his peers to determine wrongdoing before incarceration)

Conservatives have hushed this up and left all these fascistic laws in place - so watch yourselves in the near future when they 'turn' on you!

Edited by erranta
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Comparing Cameron's and Cable's quotes:

Cameron:

"We inherited a situation where, because of the regulation carried out by those two gentlemen when they were in the Treasury, we had the biggest boom and the biggest bust in our banking system.

"We had a growth model that was based on uncontrollable boom in housing, uncontrollable boom in financial services, uncontrolled public spending and uncontrolled immigration.

"A completely bust system we inherited from the two people who worked in the Treasury throughout the last Labour government."

Cable (from another thread) :

Vince Cable has told the BBC that last decade's (Brown's) economy was "based completely on the wrong basis, we had property bubble, vast increase in personal debt, we had an economy that was over-dependent on the City of London"

In an interview to radio 4 Today Programme Cable said:

QUOTE: " In terms of the growth process, what we are doing at the moment, the Chancellor and I are leading a process in government, looking at all the key sectors of the UK economy, looking at key policy areas, like regulation, competition, trade, planning, trying to make sure that these support recovery and growth. And this isn't a simple process, I mean we had economic growth in the last decade that tuned out to be based completely on the wrong basis, we had property bubble, vast increase in personal debt, we had an economy that was over-dependent on the City of London and the south east, we got to rebalance the economy as well as grow it (...) "

LINK ( 8 minutes into the audio): http://news.bbc.co.uk/today/hi/today/newsid_9372000/9372712.stm

Vince Cable gets it.

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But at least when Labour was in power house prices increased and people could get jobs in the public sector. New hospitals were being built and interest rates were kept low as was inflation. Things were so much better under Labour.

This is why Labour will win the next election, it's no use blaming Gordon Brown, Cameron is in charge now and it is all going to pot.

but they'll change the electoral boundaries before then and give the tories a 10% boost

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but they'll change the electoral boundaries before then and give the tories a 10% boost

And if the polls are bad they will form an Con-LibDem electoral coalition, supporting each other in all current seats. And in the seats they lost, supporting each other too - whichever party was stronger in each seat. Easy. They must. For just 1 parliament more. In 10 years the economy will be booming again (I mean it), and they/we will be fine, whatever happens.

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And if the polls are bad they will form an Con-LibDem electoral coalition, supporting each other in all current seats. And in the seats they lost, supporting each other too - whichever party was stronger in each seat. Easy. They must. For just 1 parliament more. In 10 years the economy will be booming again (I mean it), and they/we will be fine, whatever happens.

yes

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Great, it's time the majority got to know what HPC have been saying for years now.

Why has it been discussed here, but never by the so-called 'experts' ?

Krustey and Phil (and similar property porn, ie. HUTH) also have some responsibility.

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But at least when Labour was in power house prices increased and people could get jobs in the public sector. New hospitals were being built and interest rates were kept low as was inflation. Things were so much better under Labour.

This is why Labour will win the next election, it's no use blaming Gordon Brown, Cameron is in charge now and it is all going to pot.

Without a doubt the most economically naive statement I have ever read on here.

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And if the polls are bad they will form an Con-LibDem electoral coalition, supporting each other in all current seats. And in the seats they lost, supporting each other too - whichever party was stronger in each seat. Easy. They must. For just 1 parliament more. In 10 years the economy will be booming again (I mean it), and they/we will be fine, whatever happens.

Or ensure BOTH parties support electoral reform so you number your candidates 1, 2, 3 on the voting paper ensuring Labour can't swing a majority of seats with a minority of votes like it usually does.

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26 January 2011 - 01:58 PM, said:

But at least when Labour was in power house prices increased and people could get jobs in the public sector. New hospitals were being built and interest rates were kept low as was inflation. Things were so much better under Labour.

This is why Labour will win the next election, it's no use blaming Gordon Brown, Cameron is in charge now and it is all going to pot.

Without a doubt the most economically naive statement I have ever read on here.

I assumed it was somewhat tongue in cheek, but pointing out that there are a lot of people in the UK who think exactly that. Unfortunately. Then there are those who think that the current government is hell bent on doing as much damage to public services without even managing to save any money in the process. I've heard words, but haven't seen all that much evidence that they are better than Labour. It's deeply, deeply depressing. If they are admitting HPI was a problem perhaps there's still a glimmer of hope (or they've simply seen sentiment starting to move that way and are sending out feelers to see if it's a bandwaggon worth jumping on).

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