Saturday, Oct 14, 2006

"No boom and bust"....yeah right...

Firstrung: New Labour's crime: house prices out of control - UKIP

Perhaps one of the most obvious lies/spin from New Labour has been Gordon Brown's "end to boom and bust" line. The phrase was delivered to reassure the public that Labour would not make the same mistakes as the Tories over the economy when, in reality, they have succumb to the same temptation; the tempation to let a boom run too long than is economically safe because they do not want to "end the good times".

Posted by converted lurker @ 12:06 PM (519 views)
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4 Comments

1. Von Mises said...

That's an excellent summary. I might vote for UKIP after all!

Saturday, October 14, 2006 01:27PM Report Comment
 

2. Northernlad said...

"house price inflation should be added to the BoE's inflation target".....too right! It's probably the biggest factor!

Saturday, October 14, 2006 04:59PM Report Comment
 

3. Ticktock said...

They'll probably include HP inflation in target figures as soon as HP's start falling. Then, use the perception of falling inflation to justify cutting rates.

Sunday, October 15, 2006 02:10PM Report Comment
 

4. inbreda said...

Northernlad - it probably will be added to the BoEs inflation target. That way, as house prices come down they can use it as an excuse to lower interest rates.

It's about changing the basket to suit their own political goals, rather than any kind of sensible economics.

Sunday, October 15, 2006 02:16PM Report Comment
 

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