Saturday, October 14, 2006
“No boom and bust”….yeah right…
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 (558 views)
4 thoughts on ““No boom and bust”….yeah right…”
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Von Mises says:
That’s an excellent summary. I might vote for UKIP after all!
Northernlad says:
“house price inflation should be added to the BoE’s inflation target”…..too right! It’s probably the biggest factor!
Ticktock says:
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.
inbreda says:
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.