Monday, Oct 26, 2015

Notes on for business versus housing

Shaun Richards at Notayesmanseconomics Blog: UK mortgage lending grows whilst business lending sinks and Carney spins

There is much to consider here as we note that for all the cries of Bank of England independence it has been aligned with the UK establishment in boosting the housing market. The UK government has had its own policies and Deputy Prime Minister Nick Clegg asked for FLS to be put “on steroids” back in March 2013. Does £61.4 billion qualify?

Posted by quiet guy @ 08:27 PM (4731 views)
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1. icarus said...

More borrowing to boost asset prices (not just property and not just the UK) = more debt.

Stagnating investment in the real economy = stagnation in wages, consumption and real GDP growth = less ability to pay down debt.

Creditors in charge of governments, so no debt jubilee


Tuesday, October 27, 2015 09:28AM Report Comment

2. libertas said...

"I doubt whether households will agree if he ends up doing a U-Turn and they have taken out a fixed-rate mortgage with penalties for changing based on his promises! Indeed they may already be worried by this."

OK. So, I've been saying this for over a year now, and the naysayers here yawn and take the proverbial, but i hope one or two of you sit back and say "boy oh boy, well, you don't sound so stupid anymore".

Tuesday, October 27, 2015 10:25AM Report Comment

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