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fru-gal

George Osborne Has Made His Own 'dangerous Cocktail' Of Economic Risk -For As Long As The Era Of Cheap Credit Lasts, House Prices Will Remain Sky High

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There was always the option of throwing a general election and blaming the new government within months of entering No10. Even if they tried to throw an election in four years time there is no chance that Labour would win.

The Tories are now in power for just short of 10 years, they will have nobody else to blame once their debt loading policies explode in their face.

True

They've extended the farce far longer than necessary. All apparently to appease the boomer voters of Whitney.

Edited by Si1

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There was always the option of throwing a general election

I think they tried :lol:

The one tory party member I know said they didnt expect to win and osborne or boris were expected to take over as Cameron was going to stand down.....then they won a majority.

#Priceless.

I really do hope it collapses around their overly privileged ears.

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Ordinary people of all ages on the street are wiseing up to the fractious, out of kilter and a manipulated market that is now totally out of reach for thousands of children and grandchildren.... residents and working people of our country.....and the governments don't seem to care one iota.....they are more interested in seeing the countries assets and resources are sold overseas to the highest bidder, and prices rising many times over inflation and wages.... the mountain of debt, private and public to be repaid keeps ever growing.......If we were in a good healthy place doing well, rest assured interest rates would not still be at 0.5%.......just that figure tell us things are not hunky dory, whatever the story. ;)

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I think they tried :lol:

The one tory party member I know said they didnt expect to win and osborne or boris were expected to take over as Cameron was going to stand down.....then they won a majority.

#Priceless.

I really do hope it collapses around their overly privileged ears.

My money's still on Johnson to take over before we get a referendum.

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Ordinary people of all ages on the street are wiseing up to the fractious, out of kilter and a manipulated market that is now totally out of reach for thousands of children and grandchildren.... residents and working people of our country.....and the governments don't seem to care one iota.....they are more interested in seeing the countries assets and resources are sold overseas to the highest bidder, and prices rising many times over inflation and wages.... the mountain of debt, private and public to be repaid keeps ever growing.......If we were in a good healthy place doing well, rest assured interest rates would not still be at 0.5%.......just that figure tell us things are not hunky dory, whatever the story. ;)

I wonder what it would take to cause social unrest whereby people run riot demanding their country back or occupying empty flats.

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Good find.

There was zero chance Osbourne and Cameron would have done anything - ideologically speaking they were further embedded in the bullcrap than Brown was. Obviously ?

But I think blaming politicians is futile - only a healthy national debate that will drive politicians to create change. Problem is unless the metrics of government performance includes a wage/houseprice ratio (in the same way it used to be about raising or lowering taxes), it might be just a bit too complicated for the general population to wrap their head around.

At some point though, the politics runs out and the crash begins.

When George Osborne spoke about a “dangerous cocktail” of risk, he blamed everyone but himself: Korean missiles, spluttering Chinese growth, a choking European recovery. In fact, the biggest risk is that the Chancellor has built his recovery on a mountain of debt. It’s very cheap debt, to be sure, but he has increased the national debt burden more in five years than Labour did over 13 years. Nailing interest rates to the floor pours more vodka into the economic punch bowl: with every pound he borrows, the Chancellor fortifies his own ‘dangerous cocktail’. This creates all kinds of risks in an economy, and all kinds of crazy side effects. One of them is sky high property prices.

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When Carney first arrived in his post at the BOE he set the rise in interest rates as an unemployment rate of 7% - so the Government introduced 'sanctions' and threw everyone off the dole into destitution and said "its a miracle! we don't have unemployed any more!" he wasn't stupid - he saw what was happening and changed the criteria to GDP - so the Government "rigged" the GDP - now he's turned round and said he will NOT raise interest rates again so the BBC and other news sources are now saying he is "flip flopping" and incompetent. Now I'll probably be shot down in flames here but I do rather admire the man. He's very shrewd. But, he's up against some very powerful people so I don't know how long he will last

Edited by kjw

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I wonder what it would take to cause social unrest whereby people run riot demanding their country back or occupying empty flats.

I hope not....squatting laws recently changed to anticipate greater numbers of homeless and no fixed abode, meaning more land assets in fewer hands, greater inequality and less social mobility..... Where you were born, who you were born to and when you were born become an ever more important factor on an individuals life prosperity and growth chances......in the most part the social growth of the next generations will be deminising not improving.imo

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When Carney first arrived in his post at the BOE he set the rise in interest rates as an unemployment rate of 7% - so the Government introduced 'sanctions' and threw everyone off the dole into destitution and said "its a miracle! we don't have unemployed any more!" he wasn't stupid - he saw what was happening and changed the criteria to GDP - so the Government "rigged" the GDP - now he's turned round and said he will NOT raise interest rates again so the BBC and other news sources are now saying he is "flip flopping" and incompetent. Now I'll probably be shot down in flames here but I do rather admire the man. He's very shrewd. But, he's up against some very powerful people so I don't know how long he will last

Then again Carney left Canada with a massive housing bubble. He's left us with a massive housing bubble. What if Osbourne wanted a HPI but didn't have the right man in the BOE?

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