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  UK economy is hooked on rising asset prices. What happens when the bubble bursts?

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  UK economy is hooked on rising asset prices. What happens when the bubble bursts?

https://www.opendemocracy.net/neweconomics/uk-economy-hooked-rising-asset-prices-happens-bubble-bursts/

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The ratio of UK household net wealth to their disposable income ratio has now risen to an astonishing 8.6x, the highest level for any developed economy ever:

 

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2 hours ago, Saving For a Space Ship said:

  UK economy is hooked on rising asset prices. What happens when the bubble bursts?

https://www.opendemocracy.net/neweconomics/uk-economy-hooked-rising-asset-prices-happens-bubble-bursts/

 

Great. Tell you what, there was about a 60% fall in property values in NIreland after the GFC.

 

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1 hour ago, Saving For a Space Ship said:

Good vid from the economics editor of the same site 

  Video: Laurie Macfarlane discusses Britain’s housing crisis

https://www.opendemocracy.net/neweconomics/video-laurie-macfarlane-discusses-britains-housing-crisis/

Sounds like he has spent a lot of time on this site. Some of the language he uses is very much like the language used on this site.

Only bit I disagreed with was the opening part suggesting everyone at the beginning of the century was renting in poverty. There have been posts on here discussing how landlords built some of the highly desirable victorian town houses to rent out to white collar workers and they would compete for their business by building nice homes.

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Just get the feeling the Equity Market might be warming up for a pre Christmas record. It's been in the doldrums since the general election shock and the spectre of a Corbyn punishment tax beating for the "weslth extractors" should the Tories fail to hang on. Would have sent property up instead as folk ran for safety mind. Good for the BTL speculators in the shadow cabinet in their innocent pursuit of wealth. Comrade Thornberry and co.

Tbf that goes for the Tory cabinet too. They are all property loving Metro elites of the Cambridge/ Islington ilk that want to give property a free ride. The dice will always be loaded in favour of property whoever is in power.

Kim could spoil an Equity party with a live bomb in the ocean. If there really was free money in the offing it would have gone to the moon already.

 

Edited by crashmonitor

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1 hour ago, Up the spout said:

Wealth going up but wages are not, if you have no wealth to start you're actually just getting worse and worse off.

And this so -called "wealth" --- ever rising pwoperty "values"/"prices"    -   ALL fuelled by THE secret weapon invented by the Banksters for this very purpose....

 

i.e. PREDATORY LIAR LOANS

:rolleyes:  The whole thing was planned carefully & orchestrated by the Banksters...... G Idiot-Brown ignored all the signs whilst he was Chancellor/PM ---- The whole scam was simply brushed under the carpet..... Bliar & his chums have ridden on the back of the whole thing.....  Look at Mandlestein --- that SNAKE in the grass ---- now a Hedge Fund Big Swinging D*ck --- a COMPLETE hypocrite.....   Absolute scum.  SCUM of the earth....

http://www.express.co.uk/expressyourself/266606/How-did-Lord-Mandelson-get-so-filthy-rich

Known for his controversial relationships with the super-rich, he has been accused of cashing in on the extensive contacts he built up working as Business Secretary under Gordon Brown, and as EU Trade Commissioner, when he pocketed a salary of £155,000.

http://www.dailymail.co.uk/news/article-2028356/Lord-Mandelsons-8m-mansion-Questions-Labour-ministers-wealth.html

 

 

 

 

Edited by eric pebble

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More on that SNAKE CREEP Mandlestein...

 

When Eurasian Natural Resources Corporation, a Kazakh mining house that listed on the London Stock Exchange in 2007, became engulfed in allegations of corruption, a senior Kazakh official took soundings from former Labour minister Peter Mandelson.

https://www.ft.com/content/1411b1a0-a310-11e7-9e4f-7f5e6a7c98a2?mhq5j=e6

 

 

“Before the 1997 election Blair and his immediate circle were mildly sympathetic to the thrust of the arguments in The State We’re In. But the left of his party told him they had not come into politics to create stakeholder capitalism; Gordon Brown and Peter Mandelson meanwhile, already bitterly at odds, were united in their belief that the agenda would be portrayed as anti-business and corporatist and that Labour could not risk derailing what promised to be a successful election campaign by allowing its policies to be seen to be overtly influenced by one ‘left-wing’ writer/writer/intellectual.”

New Labour “Did not want to portray itself as a great reforming government, improving the lot of ordinary people as part of a wider challenge to the deformed institutions of contemporary British capitalism. It preferred to do what it could under the radar ......

https://www.thehousingtimes.co.uk/

 

 

https://www.quora.com/How-did-Russian-oligarchs-get-so-rich-so-quickly

Edited by eric pebble

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1 hour ago, Up the spout said:

Wealth going up but wages are not, if you have no wealth to start you're actually just getting worse and worse off.

Who was it that said ' the poor, they will spoil it for the rich?'.......;)

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  • 297 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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