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House Buyers - Wait!

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http://www.timesonline.co.uk/article/0,,542-1995596,00.html

The 111,000 increase in the numbers looking for work, to 1.53 million, not only takes unemployment back over the 5 per cent mark; it is the biggest three-month surge in unemployment for 12 years. Vacancies are down, particularly in manufacturing, which has shed 109,000 jobs this year.
But the bulk of that increase is in the exploding public sector, which has added 637,000 jobs since Gordon Brown’s spending spree began in 1999. In that period, the growth rate for private sector jobs has roughly halved — a fresh demonstration of the truism, evident in the tax-and-spend 1970s, that high (and inefficient) state spending crowds out private investment.
Public sector productivity is deplorably low, so that the larger the public payroll, the worse Britain’s overall economy performs. In every year since Labour came to power, British output per hour, which had previously been showing relative improvement, has fallen further behind that of the United States.
According to the OECD, which is as objective as any institution, British state spending will swallow a bigger slice of national wealth next year than the famously profligate German welfare state.

House buyers: just look at the facts!

House prices at record highs

Personal debt at record highs

Unemployment rising by 400,000 a year (and accelerating)

Taxes higher than 'sclerotic' (copywrite Gordon Brown) Germany and still rising

What more do you need to convince you that this is a terrible time to buy property

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Wow.

A bust following a boom, who on earth would have thought that?

England has become like Germany, except we have very few world class industries (with the exception of the City), unprecedented levels of debt, and the biggest asset bubble in recorded history.

This year’s productivity gain is expected to be a mere 0.9 per cent, equal to that of Germany, well behind France (1.4 per cent), and half the rate in the US (1.8 per cent) and Japan (1.9 per cent).

So we have lower productibity than the French.

This country now seems to be heading in the Japanese style deflation direction, where falling asset prices and foolish bank lending cripple the economy for a decade.

Hopefully we'll have a sudden, shocking crash, that will restore a sense of balance, and not ruin an entire generation.

Edited by BandWagon

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http://www.timesonline.co.uk/article/0,,542-1995596,00.html

House buyers: just look at the facts!

House prices at record highs

Personal debt at record highs

Unemployment rising by 400,000 a year (and accelerating)

Taxes higher than 'sclerotic' (copywrite Gordon Brown) Germany and still rising

What more do you need to convince you that this is a terrible time to buy property

Unemployment is key as it will destroy confidence in Gordon Brown's miracle economy. Brown's record deficit (the worst since 1984) will force him to lay off 800,000 civil servants, raise IR and taxes and blame someone else for the recession. The direct cause will be seen as excessive money supply and consequential debt. High House prices cannot sustain growth beyond people's ability to pay--the bubble must burst.

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  • 302 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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