tag:blogger.com,1999:blog-2948538160252327076.post4204296375743278423..comments2023-11-02T15:48:50.381+00:00Comments on UK Bubble UK Economy: Mervyn plays the blame gameAlice Cookhttp://www.blogger.com/profile/05753570123987780947noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-2948538160252327076.post-41885251527449843772012-05-05T10:09:16.489+01:002012-05-05T10:09:16.489+01:00@Ed R; we don't, not without blood, sweat and ...@Ed R; we don't, not without blood, sweat and tears, whatever happens. <br /><br />Best case scenario? Our idiots in charge realise that we have been given a lifeline similar to North Sea oil in shale gas and go hell for leather to exploit it. Cheap energy could be the boost to reinvigorate the UK economy, that doesn't involve more debt for someone. <br /><br />But don't hold your breath, the watermelons won't allow it.Jimnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-87194328535585454152012-05-05T10:07:30.714+01:002012-05-05T10:07:30.714+01:00Ed R - Spank those who did it.
- Provides a good...Ed R - Spank those who did it. <br /><br />- Provides a good deterent for next time<br /><br />- Good for the morale of those who tried to do the right things<br /><br />I don't suppose they're solutions but it would be a start. <br /><br />America has had its housing bust and is recovering. Ours hasn't been allowed to happen fully.Electro-Kevinhttps://www.blogger.com/profile/18073103431166273080noreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-56584969288969514052012-05-05T02:14:15.852+01:002012-05-05T02:14:15.852+01:00So we have someone to blame for the mess the UK is...So we have someone to blame for the mess the UK is in - - - <br /><br />So how do we get out of it??Ed Rhttps://www.blogger.com/profile/17720176132423294274noreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-36875261254691423812012-05-04T21:24:59.873+01:002012-05-04T21:24:59.873+01:00"The entire country had decided that houses o..."The entire country had decided that houses only went up in value"<br /><br />(Jim)<br /><br />Not me. I was right. What I didn't bank on was that people who'd bet the farm were going to be rescued by the Govt with taxpayers' money, savers' money, pensioners' money and record low interest rates.<br /><br />Taxpayer's money ?<br /><br />Welfare assisted buy-to-let, first time buyer assistance, forbearance from state subsidised banks, mass immigration, inflation ...<br /><br />With hindsight it would have been better to max out the mortgage on a big house and then keep maxing it out to buy stuff.<br /><br />I had hoped the flash people who flaunted their debt-funded stuff at me would be feeling sorry by now but they're not. <br /><br />Those of you who are too young to have enjoyed decade after 1997 should be very angry.Electro-Kevinhttps://www.blogger.com/profile/18073103431166273080noreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-44897911311878158992012-05-04T18:25:39.794+01:002012-05-04T18:25:39.794+01:00He wants inflation .He has inflation.
Seems succes...He wants inflation .He has inflation.<br />Seems successful to me .Kitznoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-46004292343680374062012-05-04T13:03:49.031+01:002012-05-04T13:03:49.031+01:00All parties cosied up to the banks: nobody wanted ...All parties cosied up to the banks: nobody wanted regulation. Mervyn could have stepped in, but chose not to.RenterGirlhttps://www.blogger.com/profile/12556830109922784321noreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-14593709586652289392012-05-04T12:37:02.066+01:002012-05-04T12:37:02.066+01:00One of the things that gets up my goat is the norm...One of the things that gets up my goat is the normalisation of lying.<br /><br />Perhaps it ius naive to believe that it has always been so but there are two really big lies that really rankle with me.<br /><br />Firstly there is the lie of the inflation rate. The reported rates don't reflect people's actual experience. Transportation costs, fuel, heating, food, education, healthcare - all people's actual expenses are rising in excess of the reported rates.<br /><br />Secondly the reported numbers themselves are continually in excess of the BOE's estimates. It seems to be an open secret that the plan is to inflate away the debts but that this is a plan that can't be publically acknowledged. <br /><br />In the grand scheme of things lying is a crime pretty low down the list and i'm sure those involved would argue that they had no alternative but it irks no end.markymarknoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-40995208039393431972012-05-04T12:01:05.364+01:002012-05-04T12:01:05.364+01:00I think you have matter one jot if he had shouted ...I think you have matter one jot if he had shouted it from the rooftops. He would have been cut down by the vested interests in keeping the party going with a full swing. Can you imagine the media campaign (orchestrated by inhabitants of No 10 and 11 Downing Street) against an unelected official who was trying to slow the economy down? We had eliminated boom and bust remember? Anyone who stuck their head above the parapet would have had it shot off in rapid time. <br /><br />When crowds go mad there is nothing one man or even a few men can do to sway them. The entire country had decided that houses only went up in value, forever, and were borrowing and spending on that assumption. No-one wanted to hear that it was nonsense, and anyone saying so would lose their public prestige, and maybe their job - remember Tony Dye: http://www.telegraph.co.uk/news/obituaries/1581634/Tony-Dye.html<br /><br />Unfortunately the history of economic policy is littered with hindsight. Its obvious what should have been done, when looking from here. When you were there the whole public attitude was different. By the time someone like the head of the BoE could have convinced the politicians that things needed to be reigned in, it would have been too late. The 'hard decisions' that politicians always talk about, but never make, needed to be taken in 2002-5, when it would have been politically impossible to make them.Jimnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-63721994772420125662012-05-04T04:33:23.433+01:002012-05-04T04:33:23.433+01:00This comment has been removed by a blog administrator.livescorehttp://www.7mscore.comnoreply@blogger.com