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TheCountOfNowhere

Imf Upgrades Uk Growth Forecast Above Rivals

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"The IMF itself has voiced concern that, having failed to rebalance the economy, the government is now reliant, through policies such as Help to Buy, on boosting the housing market and encouraging consumers to take out more debt."

"Nonetheless, the IMF upgrade represents the latest evidence that Britain's recovery is starting to take real hold, pushing the country towards robust growth this year."

Nonetheless, the IMF upgrade represents the latest evidence that Britain's recovery is a ****ing sick joke.

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IMF upgrades level of UK meddling in the debt bubble.

When will the downgrade happen ?

Like George Osborne, Leatherface is only interested in the headline numbers not their sustainability.

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Like George Osborne, Leatherface is only interested in the headline numbers not their sustainability.

I know we are biased on this site but it does seem obvious to anyone that the government has engineered a rise in house prices to increase GDP in the near term to secure election victory. Buying and Selling houses increases our GDP through debt and ancillary purchases (plumbers, decorators, furniture) also probably purchased with debt. This increases bank assets but ultimately leads to failure as people cannot afford to keep up repayments. GDP is not reflective of real value it is simply an indicator of economic activity which can easily be gamed by stupid short term policies.

In 2005 people were discussing how house prices were unsustainable and yet it continued for years afterward. I have no doubt the same will occur this time. The reason why is simple. Short term political interest. Politicians are not linked democratically to the people through anything meaningful. They are not part of society they float above it, having access to all the fruits of champagne socialism - a retreat in the country, chauffeur driven cars, security, mortgage and pension payments paid for them etc...The rise and fall of the median wage has nothing to do with their salaries so why would they care? If their pay was linked to real economic factors that affected the masses they would think twice. Short term elections have been milked by the politicians and media to provide easy highs and lows for the "people" to discuss symptoms but never the causes of any of our issues.

People tend to their rewards. Politicians will do anything in a political cycle to fein economic competence. After 8 years as prime minister or an MP you will then get thrown out for stupidity, you in turn, will blame "unforeseen issues" that led a situation you had no control over. Then you can get a job at a large corporate using your government connections to get meetings and carry favour or a think tank where you can work 9-3 and enjoy "thinking" for a living on a fat salary. Its a tried and tested path. There may be do-gooding politicians, but they are weeded out by the large number of vested interest MPs that have already been corrupted through exposure to the system. We need to stop believing that we are the only people who "know everything" and can see a crash coming a mile away. The politicians can see it too...they just don't care. They are using the one chance of approx 75 years on this planet to further their own family and give them better access to everything. If you look at it like that, we look a bit silly just pointing out the obvious and actually just accepting it.

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In 2005 people were discussing how house prices were unsustainable and yet it continued for years afterward.

2005 in the shires was the peak...nothing increased afterwards, bar the odd loony purchase.

in 2008 prices collapsed 20% and have only recovered 10% due to 0% interest rates, HTB/HTB2 and FLS.

You must live in London where House price only ever go up and everyone will be millionaires this time next year.

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2005 in the shires was the peak...nothing increased afterwards, bar the odd loony purchase.

in 2008 prices collapsed 20% and have only recovered 10% due to 0% interest rates, HTB/HTB2 and FLS.

You must live in London where House price only ever go up and everyone will be millionaires this time next year.

And Osborne's out of control borrowing and spending. That more than anything else.

public-debt-1974-2014.jpg

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