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The Masked Tulip

Andrew Neil Just Had A Go At Some Mps About A Housing Bubble

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Alas, trying to get a sensible view out of them - when he repeatedly asked them whether they think there is a housing bubble or not - was impossible.

A Liberal MP seemed content that the BOE is keeping everything under control. A Labour MP just refused to give an opinion and, when pushed, waffled something about building houses.

I would post a facepalm but I have lost the will now.

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Alas, trying to get a sensible view out of them - when he repeatedly asked them whether they think there is a housing bubble or not - was impossible.

A Liberal MP seemed content that the BOE is keeping everything under control. A Labour MP just refused to give an opinion and, when pushed, waffled something about building houses.

I would post a facepalm but I have lost the will now.

underlines why voting for ANY of the established parties is a waste of five hundred years struggle for the vote

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Don't really blame the politicians here. Answering "is this a bubble" is just allowing yourself to be hostage to fortune.

Neil asked the wrong question. It should have been:

"Is the current rocketing house prices a good thing"

If no

"Then why is government policy adding petrol to the fire?"

If yes

"What is good about condemning the young to a lifetime of penury in order to afford a roof over their heads?"

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Don't really blame the politicians here. Answering "is this a bubble" is just allowing yourself to be hostage to fortune.

Neil asked the wrong question. It should have been:

"Is the current rocketing house prices a good thing"

If no

"Then why is government policy adding petrol to the fire?"

If yes

"What is good about condemning the young to a lifetime of penury in order to afford a roof over their heads?"

And also...

How can British people compete for employment in the global jobs market, when we cost so much to house ourselves?

Expensive houses = expensive workers = jobs forced abroad = fewer productive UK jobs = no ability for UK to pay down it's debt.

Edited by SleepyDog

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And also...

How can British people compete for employment in the global jobs market, when we cost so much to house ourselves?

Expensive houses = expensive workers = forcin jobs abroad = no productive jobs = no ability for UK to pay down it's debt.

Precisely. Well said that man. 11/10.

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How can British people compete for employment in the global jobs market, when we cost so much to house ourselves?

Good question- maybe the CBI have an answer? Here's what the director general John Cridland has to say about the latest effort to keep house prices up;

John Cridland: Scrapping Help to Buy would be like taking a patient off life support before he's out of intensive care

Right- so 'the patient' in this case being the housing market- and 'life support' being state subsidised mortgage borrowing.

But what- we ask ourselves- is the pathology towards which all this intervention is being directed?

That would be the free market that threatens to bring down the cost of housing via market driven constraints on the banks ability to lend silly amounts of money to people who will not be able to pay it back.

So there we have it- in the veiw of the CBI the free market is now a disease to which state intervention is the cure.

The CBI are closet socialists!!! :o

But to be fair they do have a clearly worked out position on the British workforce- it goes something like this;

The british workforce must be flexible enough in terms of their wages and working conditions to compete with the cheapest labor on the planet- while at the same time servicing vast mortgages in order to keep a roof over their heads.

:lol:

Edited by wonderpup

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The CBI are closet socialists!!! :o

But to be fair they do have a clearly worked out position on the British workforce- it goes something like this;

The british workforce must be flexible enough in terms of their wages and working conditions to compete with the cheapest labor on the planet- while at the same time servicing vast mortgages in order to keep a roof over their heads.

:lol:

Quite. Once the bloodsucking elite discovered they could control government enough to embark on a programme of corporate welfare benefiting the very rich. any notions of being for free-market economics went out the window. Free money works, for them.

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It is an act of conspiratorial supreme arrogance by the politicians and the too big too fail elite to expect to rig the markets with their current smoke and mirrors forever . A financial convulsion / tsunami must at some point sweep through the old economies of Europe and North America .It is not a question of if but when ..I was no great fan of Thatcher , but I do remember her saying 'you cant buck the markets'.

Energy prices are only heading in one direction . Food prices are only heading in one direction . Wages are not going up any time soon .

I guess when the financial convulsion comes and the Wests capital finally disappears in a large puff of smoke , a fire of fiat currencies and an explosion of the derivatives on Deutsche Banks Balance Sheet ...equity markets will fall through the floor . Banks will bail in to a large chunk of our cash deposits , pension funds will fall through the floor and we will finally get the fabled house price crash we have been waiting for on this site for many years now ..middle England will be a little bit pi***d off no doubt .

I guess the million dollar question is , what will trigger it and when ?

I guess Max Keiser will be offered Osbornes job then and gold , silver , raw materials food etc will be somewhat in demand as the emporers new clothes of fiat are finally violently revealed .

Or can they taper QE gently and dish out manageable pain over a long period of time and avoid the convulsion?

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