Friday, December 7, 2012

Nah. Can’t be – housing is still better than ever…

Manufacturing data stoke triple dip fears

Dire figures suggest UK economy will shrink in final quarter

Posted by hpwatcher @ 12:17 PM (2173 views)
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9 thoughts on “Nah. Can’t be – housing is still better than ever…

  • When will folk realise there was never a recovery?

    When it takes over 300bn to make 1% GDP rise, clearly, that is actually negative GDP, smoke and mirrors.

    The only solution is:
    – Tax cuts
    – Deflation (lower oil and property price, etc)
    – Higher interest rates (to build savings and capital)
    – Make it illegal to treat derivatives (futures contracts) as assets, re-classifying them as the liabilities they really are to end the Ponzi scheme.
    – End the merger of high street banks and commercial banks so that banks cannot gamble with the public’s savings.
    – A global default, Jubilee on debt.
    – Put most of the top bankers in jail and declare an end to Bankster occupation.

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  • mark wadsworth says:

    More Faux Lib tomfoolery: “A global default, Jubilee on debt” (an idea often propounded by Marxists).

    The government can fund itself in two ways – by selling off land or by borrowing money. So what he’s saying is, if you gave the government money to buy land, you can keep the land, but if you lent the government money, they won’t repay it. And of course, a mortgage write off would be meat and drink to the Home-Owner-Ists, that’d be another massive transfer of wealth from savers to borrowers.

    So all in all, a dreadful idea.

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  • My suggestions for a recovery:

    1. Make things that people want.
    2. Grow things that prople want to buy.

    As a nation we are obsessed by consumption – about time we paid some attention to production. Politicians – forget the grandstanding on the world stage, just stop digging yourselves into a hole. Guys – whatever happened to the “Balance of Trade”?

    BTW, a “Global default” is a money grab by another name – it’s a selective default where “losers” are selected to suffer the losses. Interesting politics in Argentina, right now, for mere observers (like me).

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  • mark wadsworth says:

    Alan, ultimately, production = consumption. For sure, we ought to be producing more stuff, that doesn’t mean we should consume less, it just means we ought to be paying for consumption by producing rather than mortgage equity release etc.

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  • Mark,
    Yes. It all has to cancel out at some stage. Hopefully less ambulance chasing and “missold PPI recovery” entrepreneurs in the UK. I got 5 calls yesterday and I’m on the phone register to avoid sales calls.

    Wish-fully less “Spiv capitalism” too.

    Does anyone think our labour costs price themselves out of the manufacturing market like house prices have priced themselves out of the 20somethings price range?

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  • Alan. Folk make and grow things via free enterprise when:
    – Taxes are not too high
    – Regulations do not strangle private contracts
    – Inflation does not destroy capital

    Government can only get in the way of that

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  • Marx, I agree, maybe a global debt jubilee is the wrong way. What should happen is that bankruptcy is allowed to occur. End bailouts and the market can work out which debt to liquidate and which debt to retain, allowing capital values to return to a sustainable level where markets can exist.

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  • mark wadsworth says:

    Apol’s I typed “Peter Risdon” who is somebody completely different and a decent bloke, Libbytass is in fact called “Phil Ridley”. He appears to have taken his pills today because his comments at 7 and 8 are perfectly sensible (I’m not sure why he keeps addressing somebody called “Marx” though. I thought he died in the 19th century?).

    But what Libbytwat does not realise is that privately collected taxes (rents and other monopoly income) have an even worse effect on free enterprise than public collection of those rents.

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  • Can I suggest not feeding the troll. It’s disheartening to see an interesting headline only to be confronted with reams of typed noise from the empty vessel.

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