Monday, March 10, 2008

Mission Impossible

Can Alistair Darling save us from recession?

Let's make no mistake about it. The UK economy is in trouble. Our prosperity of the last five to 10 years has been built on a housing bubble, which in turn has been built on banks being willing to offer cheap debt to anyone with a pulse.Falling house prices mean people feel poorer and can't borrow money against their home to spend on flat-screen TVs. That means no more consumer boom and no more good times for retailers. Then it's just a matter of time before the job losses start to clock up.

Posted by sold out @ 07:47 AM (944 views)
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8 thoughts on “Mission Impossible

  • Can Alistair Darling save us from recession?

    Bit of a daft question?

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  • stillthinking says:

    Makes a point that I made, earlier, that the gov. can easily delay the CGT reforms. People who have delayed sales waiting for April will have delayed for no reason.

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  • “The “kitemark” would give a government stamp of approval to certain mortgages. The idea is that this would give investors the confidence to buy them”.

    Would this mean that the government will take over the job of a mortgage rating agency? It sounds like another “make work” role to me, but I’m awaiting the fuller story before criticising too harshly.

    Will the government get into guaranteeing the loans? They seem to be accumulating experience since Captain Darling took over….

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  • tyrellcorporation says:

    Let’s not forget who got us into this mess. We’re effectively on a high wire and whilst we were balancing nicely and the crowd were clapping Gordon crept in and sold the net beneath us and then took away the balancing pole!

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  • not if he screws us again in the budget…

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  • it_is_going_with_a_bang says:

    As far as I am concerned “it’s all gone quiet over there”.
    Gordon and Darling are just saying and doing the absolute minimum anyway. Anything they do in this budget will have nothing to do with government tax revenue, they have shown they don’t really care about that for the time being.
    Expect a budget aimed at saving their political necks.
    Gordon once said:
    ” We are on track to meet our fiscal rules with a margin of error even on the most cautious assumptions”

    I doubt he or his puppet will be saying that for a while.

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  • mark wadsworth says:

    what hpw says

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  • Landedgentry says:

    This economy will self destruct in 5 seconds

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