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othello

Interview On Radio 4 Today Programme - No Crash

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Did anybody hear Ed Balls (Labout MP and former advisor to the Chancellor) on the radio 4 Today programme this morning? He said (I'm quoting from memory) that everybody predicted a house price crash but the Government (specifically the Bank of England) had sucessfully managed the best slowdown the housing market had ever seen.

Two points: 1) does the Government really think it can conteroll the housing maket and 2) why does he think a managed slowdown (even if it were true) is preferable to a crash?

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Did anybody hear Ed Balls (Labout MP and former advisor to the Chancellor) on the radio 4 Today programme this morning? He said (I'm quoting from memory) that everybody predicted a house price crash but the Government (specifically the Bank of England) had sucessfully managed the best slowdown the housing market had ever seen.

Two points: 1) does the Government really think it can conteroll the housing maket and 2) why does he think a managed slowdown (even if it were true) is preferable to a crash?

He used the word crash, and 'maxed out consumer' or such like, in the dismissing sense of course. Me thinks he was a little thrown today, he took a couple of minutes to get into the usual unthinking tirade of "low interest rates, low inflation, 'locked in' gains, stable economy". I do notice of late that he and Brown no longer use the words "boom and bust" for some reason, not to mention "bad old days" nor do they use the words "falling unemployment" anymore but rather "high levels of employment".

Oh, and the ONS is independent apparently, I always thought it was a HM Treasury deptartment... oh, it is!

Edited by BuyingBear

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He used the word crash, and 'maxed out consumer' or such like, in the dismissing sense of course. Me thinks he was a little thrown today, he took a couple of minutes to get into the usual unthinking tirade of "low interest rates, low inflation, 'locked in' gains, stable economy". I do notice of late that he and Brown no longer use the words "boom and bust" for some reason, not to mention "bad old days" nor do they use the words "falling unemployment" anymore but rather "high levels of employment".

Oh, and the ONS is independent apparently, I always thought it was a HM Treasury deptartment... oh, it is!

Thought the Bank of England was too.

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The BOE have helped create a shed load of debt and an ever increasing costly place for business to function.

This is not stabilisiing one bit, merely a continuation of the problem.

Expect more job losses and more offshoring, much more.

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He used the word crash, and 'maxed out consumer' or such like, in the dismissing sense of course. Me thinks he was a little thrown today, he took a couple of minutes to get into the usual unthinking tirade of "low interest rates, low inflation, 'locked in' gains, stable economy". I do notice of late that he and Brown no longer use the words "boom and bust" for some reason, not to mention "bad old days" nor do they use the words "falling unemployment" anymore but rather "high levels of employment".

Oh, and the ONS is independent apparently, I always thought it was a HM Treasury deptartment... oh, it is!

I liked the way he kept repeating "tough year" while trying to argue we'd avoided the worst aspects of economic difficulty. It just left the listener thinking "tough year".

Ed Balls really doesn't cut it as a politician. He is really too much of a wonk to really believe in his rhetoric, and it shows.

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I am noticing a sudden increase in the numbers of non-EA VI types, on the TV, Radio and in Print, saying that a housing crash has been avoided.

To quote the noble bard: They (The lady doth) protest too much, methinks

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I liked the way he kept repeating "tough year" while trying to argue we'd avoided the worst aspects of economic difficulty. It just left the listener thinking "tough year".

Ed Balls really doesn't cut it as a politician. He is really too much of a wonk to really believe in his rhetoric, and it shows.

I'd like to smug look wiped off his face in a few years when he realises his career is shot because all his political rhetoric is on record and he has been exposed as the sick caricature of a politician that he is.

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I am noticing a sudden increase in the numbers of non-EA VI types, on the TV, Radio and in Print, saying that a housing crash has been avoided.

To quote the noble bard: They (The lady doth) protest too much, methinks

70% of the population are said to own their own home. Might have something to do with the majority view? Only FTBs, STRs want to see a crash the rest are happy to see their assets inflate forever.

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Ed Balls is a prat and an arch spinner. He was given a full page in the Investors Chronicle to tell us all that the UK economy is infact in fantastic shape and that Gordon Brown is the best chancellor ever and not to listen to the gloom mongers.

The result? I cancelled my sub to the IC and sent a letter to the editor explaining that I need impartial investment advice not pages devoted to political spin. :angry:

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I liked the way he kept repeating "tough year" while trying to argue we'd avoided the worst aspects of economic difficulty. It just left the listener thinking "tough year".

Ed Balls really doesn't cut it as a politician. He is really too much of a wonk to really believe in his rhetoric, and it shows.

I agree. He is a lightweight. He has benefitted by being Gordon Brown's faithful mouthpiece.

I am not sure I have ever heard a word from him that was not calibrated spin.

Edited by Starcrossed

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Guest Time 2 raise Interest Rates

No suprise there, the P R machine is in over drive just keep telling them

what they want to hear and all's well. :ph34r:

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70% of the population are said to own their own home. Might have something to do with the majority view? Only FTBs, STRs want to see a crash the rest are happy to see their assets inflate forever.

This is the key point. It was intersting to hear Balls highlight negative equity as the first point in his list of things his Government has managed to steer us away from. I believe that maintaining HPI is one of the top, if not the top, political objective at the moment. Shrot term political gain resulting in long term economic pain.

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I agree. He is a lightweight. He has benefitted by being Gordon Brown's faithful mouthpiece.

I am not sure I have ever heard a word from him that was not calibrated spin.

Agree with this. I have seen him a few times talking absolute sh%ite - SO obviously VI cr@p -- I just couldn't believe that he couldn't see himself for what he is - A total TW@T - incredibly stupid and SMUG.

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Agree with this. I have seen him a few times talking absolute sh%ite - SO obviously VI cr@p -- I just couldn't believe that he couldn't see himself for what he is - A total TW@T - incredibly stupid and SMUG.

Balls talks balls ! :D

Edited by penbat1

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Did anybody hear Ed Balls (Labout MP and former advisor to the Chancellor) on the radio 4 Today programme this morning? He said (I'm quoting from memory) that everybody predicted a house price crash but the Government (specifically the Bank of England) had sucessfully managed the best slowdown the housing market had ever seen.

"everybody predicted a house price crash" - so the government believe that our arguments are pretty mainstream?

I thought it was just mad HPCers that predicted house price crashes! :P

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othello

It looks like you cannot spell - stupid new labour fool

GOVERNMENT

BELIEVE

Shold get yourself a copy of the scum it will be giving away

GCSEs.

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I liked the way he kept repeating "tough year" while trying to argue we'd avoided the worst aspects of economic difficulty. It just left the listener thinking "tough year".

Ed Balls really doesn't cut it as a politician. He is really too much of a wonk to really believe in his rhetoric, and it shows.

"Tough year" eh?

So how come virtually EVERY other large country in Europe had a good to excellent year?

Why are we, in the UK, different Mr Balls?

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70% of the population are said to own their own home. Might have something to do with the majority view? Only FTBs, STRs want to see a crash the rest are happy to see their assets inflate forever.

I don't agree that all homeowners would not want a price correction. Many homeowners are not that short sighted. I have 3 children and was a homeowner until August when I STR'd. Even before I sold I would genuinely like to have seen a reduction for the benefit of my children who will be old enough to own their own homes in just a few years time.

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I don't agree that all homeowners would not want a price correction. Many homeowners are not that short sighted.

Agreed, I'm a homeowner & would be very glad to see a crash. I bought my house 5 years ago as somewhere to live, not as an investment or to fund spending on consumer goods. People don't seem to realise that a house price boom makes it much harder to move up the 'ladder'.

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Agreed, I'm a homeowner & would be very glad to see a crash. I bought my house 5 years ago as somewhere to live, not as an investment or to fund spending on consumer goods. People don't seem to realise that a house price boom makes it much harder to move up the 'ladder'.

Totally agree.

And add, can make it harder for job relocation or change.

It does not help to provide a flexible workforce.

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Agreed, I'm a homeowner & would be very glad to see a crash. I bought my house 5 years ago as somewhere to live, not as an investment or to fund spending on consumer goods. People don't seem to realise that a house price boom makes it much harder to move up the 'ladder'.

Indeed, and I very much doubt every home owner is 'happy' with their current home, no doubt nearly all of them would like to upgrade to a larger home or a nicer area (or both) if possible, in which case their own gains on their current home will be useless as the price differential on their dream home will be larger than ever, a crash will help close that gap.

Edited by BuyingBear

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the Bank of England) had sucessfully managed the best slowdown the housing market had ever seen.

-so they admit to controlling housing then.

Indeed, they'll admit to anything when it suits them, even if it's wrong.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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