Saturday, Jun 08, 2013

Osborneomics: indentured servitude

Management Today: 4,000 reservations for 'moronic' government mortgage scheme

Albert Edwards, head of the global strategy team at French banking giant Société Générale, points out that by offering 95% mortgages, the government is driving young people further into debt – or ‘indentured servitude’, as he put it.
In a research note he said Help to Buy is ‘truly a moronic policy that stands head and shoulders above most of the stupid economic policies I have seen implemented during my 30 years in this business.
‘It ranks above some of Alan Greenspan’s very worst blunders,’ he added.

Posted by stuartking @ 10:33 AM (1489 views)
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3 Comments

1. mark wadsworth said...

nice one, I've nicked that for my blog.

Saturday, June 8, 2013 11:02AM Report Comment
 

2. alan said...

Everyone is trying to manipulate the market for something or other.

I get the feeling there are more people manipulating "the suckers" than actually producing stuff that people want to buy.

The endgame is debt slavery for the masses. Maybe the Bildenbergers encourage it, maybe not. This site has covered frauds and manipulation on a grand scale over the last 3 or 4 years. Make your own mind up.

Maybe that's why the CIA want to kill off Wikileaks.....?

Saturday, June 8, 2013 07:56PM Report Comment
 

3. stillthinking said...

The problem isn't just the level of debt, its who is holding the debt, and it isn't the people with their working lives stretching out ahead of them. Thats why the government has had to essentially transfer private sector debt to public with their spending programmes, its a way of moving the debt down the worker age group.

Except they can't raise taxes anymore so becomes clearer and clearer just financial transfer.

Sunday, June 9, 2013 06:12AM Report Comment
 

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