Thursday, Oct 22, 2009

Laughable social fabric

Credit Action: October 09 Personal debt

House prices are going back up as fast as they came down! People around me look so poor. Yet, London seems to be on a roll again. I'm amazed at the Governments willingness to make so many young and old so poor throughout this land, without hope of getting out of the problem, in order to make a very small sector extremely rich. Is it to be expected with the Band of England now controlling monetary policy yet having no social responsibility? I would love to see the day the people of this land marched together on Parliament to demand change. That would be a most auspicious event. Nice to see we all owe £1.4 trillion, now on the back of a broke government borrowing £100's millions, diluting your wealth by QE, and claiming there is no inflation.Everthing seems to be going up in price to me!

Posted by pjm @ 06:32 PM (859 views)
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4 Comments

1. Moneygirl said...

Same in Canada. Greedy speculators are favored by government, banks get our deposits basically for nothing; and today, one of our 5 big banks has been degraded by Moody's to a "C" raging.

But, the government ensures all mortgages, many of the VRM (variable rate) variety with no down payment (1.25% is not unknown); and at 7 or 8 times gross income; tax rate, irrelevant!

And as the media repeats "there is no inflation" In fact, to the opposite, our government is fighting "deflation"! I can tell you the movies cost me 17% more than 2 years ago; the heating is going up 50% on January 1st; the public transportation is up 15% from less than 1 year ago in the capital; rents are up big time and so is milk, just up 10% in one sweep yesterday.

Friday, October 23, 2009 03:04AM Report Comment
 

2. Brucemcaaw said...

Food Shopping bills have doubled, power bills have doubled, Petrol has doubled and House prices tripled in a decade and yet wages are static, many companies are paying exactly what they were in 2000. Debt has filled the gap for five years or so but it can't go on for ever. This situation isn't going to have a pretty ending.

Friday, October 23, 2009 11:08AM Report Comment
 

3. This comment has been removed as it was found to be in breach of our Blog Policies.

 

4. This comment has been removed as it was found to be in breach of our Blog Policies.

 

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