Wednesday, Oct 28, 2015

Ups and Downs

Guardian: Britain is heading for another 2008 crash: here’s why

There were three times in recent decades when the government ran a surplus: Note how each surplus is followed, within a certain number of years, by an equal and opposite recession. There’s every reason to believe that’s exactly what’s about to happen now. At the moment, Conservative policy is to create a housing bubble. Inflated housing prices create a boom in construction and that makes it look as if the economy is growing. But it can only be paid for by saddling homeowners with more and more mortgage debt.

Posted by quiet guy @ 11:30 PM (5570 views)
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1. i remember the 90`s said...

That was a very good read (libby will be choking on his frosties)it was put in simple terms that most folk would get and looks like HPC is not far away.

Thursday, October 29, 2015 08:49AM Report Comment

2. cyril said...

couldn't agree more. The problem with the last Labour government wasn't that it was too profligate with public money (public expenditure didn't exceed 40% of GDP until the banks blew up), it encouraged too much borrowing in the private sector. If you look at a chart of household debt since say 2000, the growth in debt is astonishing. (and they also privatised everything in sight)

Thursday, October 29, 2015 10:47AM Report Comment

3. sibley's b'stard child said...

Agreed we're due a correction at some point although the Gruadina can't help but have a pop at the Tories. As if their beloved Red Wing weren't complicit in this shambles of a rentier economy.

Thursday, October 29, 2015 04:13PM Report Comment

4. sneaker said...

If the Guardian had predicted the 2008 crash, I'd be happy to listen to their prediction of the next one.

Thursday, October 29, 2015 05:05PM Report Comment

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