Tuesday, February 8, 2011

Thought-provoking programme on ‘financialisation’ over the past few decades

Analysis: escaping credit serfdom

I would say that, like the recent File on 4 which was linked on the blog, this is worth spending half an hour to listen to. Some startling information on household debt and 'asset based welfare' (i.e. the feel-good factor promoted by rising house prices and MEWing).

Posted by sceneclub68 @ 12:37 AM (1088 views)
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3 thoughts on “Thought-provoking programme on ‘financialisation’ over the past few decades

  • Excellent post, sceneclub68.

    There’s a lot in the programme which makes it difficult to summarise so I’m just going to restrict myself to a couple of observations:
    1) The phrase “asset based welfare” is new to me. Google yields some curious looking results on that phrase – especially the older pages, written before 2007.
    2) I was a bit surprised to hear a blunt assessment of the property market at 13:00: “The fact remains it was Labour who brought in student tuition fees, watched the house price bubble inflate and continually urged the light touch regulation of the banks.”

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  • notyethomeless says:

    Thanks for posting, sceneclub – it’s reminded me that I want to listen to the Yo Hayek episode the week earlier too! (I believe this is all about the Austrian economics school founded by Fredrick, not the voluptuous Mexican actress, Salma).

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  • Wow, at the peak US household debt was 135% of annual income, but in the UK it
    was 165% at peak !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    So, no sub-prime here then.

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