On Sat, 20 Sep 2008 00:32:55 -0700 (PDT), Doug
riseup.net>
wrote:
>> Why were they living beyond their means Doug?
>>
>Because they were encouraged to do so and didn't have the sense not
>to. Firstly, the likes of Thatcher and T.Bliar encouraged a nation of
>home owners, while selling-off most of affordable rented housing.
Nowt up with that. The houses were still there, still occupied but the
occupiers weren't dependant on the bloody council taking *years* to
repair every dripping overflow, leaking gutter, or loose doorknob.
>The
>price of houses became grossly inflated, costing more than many people
>could realistically afford. Result, boom and bust,
Boom and bust is otherwise known as "The business cycle", and happens
the world over. It would take an economist better than Gordon Mac
Shite-Features to stop it happening. realising this he went for second
best and just put the kibosh on the boom bit.
>negative equity, homelessness, etc.
That was Gordon Mac Shite-Features (AKA "Prudence") getting punterz
hooked on credit so that they'd spend, spend, spend, money they hadn't
got, (because there was no *real* prosperity) and he could get his
sticky mitts on the tax, tax, tax, in the form of VAT.
Derek
