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Paul Mason Is As Mad As Hell

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Perhaps he could have some anger for those who've utterly overborrowed and overpaid for houses. Always the bankers for this element of VI.

Radical? Repossessions. Not forbearance.

HPC, not locked-in hyperinflated home-owners wanting wage inflation (and often wanting their homes to go up in value with it).

Paul Mason

Sunday 9 November 2014

The solution is easy to envisage – but distasteful to mainstream politics. It means generous welfare benefits, strong unions with institutional bargaining arrangements and less globalisation: less offshoring, less outsourcing, less temporary work.

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I don't know if you will understand what I am saying here but....

It is really goood to see Paul Mason get worked up about a thing like this. Because I get worked up about a lot of things that go on and sometime I feel like a freak. Nice to know I am not the only one in the freak club.

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I just can't fathom the point of us fining ourselves?

Yep rack up the funding for lending scam so the banks can afford to pay there fines.

osama bin laden is that why he did what he did

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I don't know if you will understand what I am saying here but....

It is really goood to see Paul Mason get worked up about a thing like this. Because I get worked up about a lot of things that go on and sometime I feel like a freak. Nice to know I am not the only one in the freak club.

I am angrier about policy to 'save the victims' on the margin (and lock in house prices, then reflate values even higher) with you and many more on such low rate mortgage trackers.

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Steady on Paul, if the Citeh of London stops being the centre for global criminality what on earth is Britain going to export?!

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I wonder how much his South London home is worth. He would probably found it much more difficult to get where he is today, if the London house prices were as hyperinflated as today, when he moved to London in 88.

paul-mason-interview-007.jpg

Paul Mason at his home in south London

He was getting itchy feet, though. “When they cut the funds to the theatre and we couldn’t do what we wanted to do and I knew it was time to go,” he says. “I was looking to go to London.”

He left Leicester in 1988 and settled in the capital, writing music and travelling up the M1 in a dodgy VW Beetle (bought from some wide boys in Leicester) to see his wife, Jane, who was still nursing at Glenfield Hospital. His ambition was to work in musical theatre. That was the plan, he says. It failed. “It just didn’t happen. It was harder than I thought. So I turned to journalism.”

http://www.leicestermercury.co.uk/Agit-pop-TV-journalist-Paul-Mason-Leicester-years/story-22962326-detail/story.html

Just watched Paxton doubt some of his Greece report . Austerity measures.. [..]public sector cuts, 'are we witnessing some threat to democracy'.

I will take note when this guy begins calling for markets to normalise - like forever house price hyperinflation isn't a threat to democracy either, forbearance blocking good money and opportunity for others / younger entrants. Instead of wage inflation, more generous benefits, narrowing competition and so on.

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But Boris says we shouldn't be bashng the bankers, they are hardworking folk with enormous talent.

If we threaten to punish them for breaking laws, we would drive them out - and no-one would be left to run the banks.

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Perhaps he could have some anger for those who've utterly overborrowed and overpaid for houses. Always the bankers for this element of VI.

Radical? Repossessions. Not forbearance.

HPC, not locked-in hyperinflated home-owners wanting wage inflation (and often wanting their homes to go up in value with it).

the onus is completely on the lender to do due diligence on the loan. But when the central bank has their backs, the banks have no risk. The risk is offloaded to the people who get their savings and pensions stolen to pay for the bad loans.

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I wonder how much his South London home is worth. He would probably found it much more difficult to get where he is today, if the London house prices were as hyperinflated as today, when he moved to London in 88.

Just watched Paxton doubt some of his Greece report . Austerity measures.. [..]public sector cuts, 'are we witnessing some threat to democracy'.

I will take note when this guy begins calling for markets to normalise - like forever house price hyperinflation isn't a threat to democracy either, forbearance blocking good money and opportunity for others / younger entrants. Instead of wage inflation, more generous benefits, narrowing competition and so on.

Paxman is by contrast well aware of the threat that rising house prices pose, I can see why he would clash with someone like Mason.

Have to say I agree with Mason on the lack of prosecutions though, if bankers break the law then they should pay the consequences just like if you or I broke the law we would have to. Personal responsibility should extend throughout the system, from borrowers who should do their own due diligence, to bankers who should not feel they can flout the law at will and with impunity.

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I wonder how much his South London home is worth. He would probably found it much more difficult to get where he is today, if the London house prices were as hyperinflated as today, when he moved to London in 88.

Just watched Paxton doubt some of his Greece report . Austerity measures.. [..]public sector cuts, 'are we witnessing some threat to democracy'.

I will take note when this guy begins calling for markets to normalise - like forever house price hyperinflation isn't a threat to democracy either, forbearance blocking good money and opportunity for others / younger entrants. Instead of wage inflation, more generous benefits, narrowing competition and so on.

Mason, as far as i know, committed no crime. Unlike the banksters.

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the onus is completeBut when the central bank has their backs, the banks have no risk. The risk is offloaded to the people who get their savings and pensions stolen to pay for the bad loans.

The taxpayer guarantees the first £85,000 of each commercial banking group's liability to each of its customers.

Under HTB the taxpayer now also guarantees up to 20% of some of the banks' assets.

Using the IOUs of a poorly regulated cartel as our medium of exchange is a really, really bad and expensive way to organize our money system.

We could do much better:

http://www.positivemoney.org.uk

Don't forget to watch the forthcoming Parliamentary debate on money creation on Thursday 20th November.

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I was a bit disappointed that Fasial Islam left CH4 but I do like Paul Mason's reports. Channel 4 seem to have a really strong presenting team.

Well, as strong as the rules allow.

You're never going to get quality from TV news, so long as 'impartiality' rules exist...guess who decide's whats impartial: Hint, they arent impartial!

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Paxman is by contrast well aware of the threat that rising house prices pose, I can see why he would clash with someone like Mason.

Have to say I agree with Mason on the lack of prosecutions though, if bankers break the law then they should pay the consequences just like if you or I broke the law we would have to. Personal responsibility should extend throughout the system, from borrowers who should do their own due diligence, to bankers who should not feel they can flout the law at will and with impunity.

a link to a matt taibi story in rolling stone

http://www.rollingstone.com/politics/news/the-9-billion-witness-20141106

which shows in america just how much the justice system is controlled by the banks .

Given the similar lack of action here , can only assume similar corruption here .

Given the USA shenanigans with the crash and its response (in the usa) .. someone was able to

buy up bad debt using the $700B allocated but no oversight by congress , I wasnt surprised

by this ... read and weep for democracy .

.

rockhopper

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Paxman is by contrast well aware of the threat that rising house prices pose, I can see why he would clash with someone like Mason.

Have to say I agree with Mason on the lack of prosecutions though, if bankers break the law then they should pay the consequences just like if you or I broke the law we would have to. Personal responsibility should extend throughout the system, from borrowers who should do their own due diligence, to bankers who should not feel they can flout the law at will and with impunity.

Thanks for the reminder re Paxman article; yes I too agree with Mason's frustration over unethical behaviour inside banks and lack of prosecutions.

It's just when a report comes out - such as a book some journalist was trying to launch a few months ago how ALL of the blame has been put onto the bankers for problems , with so many people in denial that we are where we are because people over-borrowed, over-expanded, were complacent and entitled - and too many people who have gained multiple times over unwilling to accept that view - unwilling to even process it.

Would like to see more older owners push for lower house prices, and less solutions which involve a quest for wage-growth / higher benefits / limiting competition - whilst almost every day we still have a broken culture that champions rising house prices, already extreme in many parts, as a 'good thing'.

Paxman: The soaring cost of putting a roof over your head is surely one of the most unattractive — and pernicious — characteristics of the past 40 years. And yet for decades the media have reported a rise in house prices as being somehow a cause for celebration and a fall as a bad thing.

But the consequence of this obsession — and the borrowing that made it possible — was to destroy the relationship between property prices and wages: housing is now so far beyond the reach of many young people that significant numbers doubt whether they will ever be able to buy decent accommodation.

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Mason's rage seems pretty synthetic to me. He's not likely to be personally affected by what's happening with the economy. He's old enough to have bought property when it was cheap and he has a well-paid and fairly secure job. The impact on his life of a few bankers messing about with LIBOR or exchange rates? Close to zero.

I'm sure there are journalists out there who are full of genuine rage, but they are probably 20-25 years younger than 1960-born Mason.

Edited by Dorkins

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Maybe Mr Mason is sensing more than the usual disenchantment with things as they are and despite his relatively cushy position he feels it necessary to set out an anti-banking position now compared to some of the more complacent commentators.

Maybe he's also being used indirectly as a vent for feelings. TPTB are very adept at the pretence of things being fixed tomorrow /

jam tomorrow.

Edited by billybong

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I know I'll be decried for saying this, but...

look, we do have the tools to rid ourselves of the banking cancer.

If we as a society moved to disintermediate the banks by using Bitcoin for transferring value, and gold/silver for savings we can do it.

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