Wednesday, October 28, 2015
Ups and Downs
Britain is heading for another 2008 crash: hereÂ’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. ThereÂ’s every reason to believe thatÂ’s exactly whatÂ’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 (5622 views)
4 thoughts on “Ups and Downs”
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i remember the 90`s says:
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.
cyril says:
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)
sibley's b'stard child says:
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.
sneaker says:
If the Guardian had predicted the 2008 crash, I’d be happy to listen to their prediction of the next one.