BUILT- IN DEBT.

The IMF appears to have noticed that the Brits are paying over the odds for property. This has been the problem for a number of years. Gordon Brown loved these inflated prices emanating from cheap money, which came about from much smoke and mirrors in the money markets; the end result giving the Exchequer loads of bounty in stamp duty. Why, then, didn't the International Monetary Fund point this out early into the new century? There were plenty of us around who sensed that the funds required could not possibly be substantiated. The writer has mentioned on previous occasions, pointing this fact out to his bank in 2003.

The setting of interest rates encouraging the chasing of the debt will always cause disaster. The much earlier posting entitled: HAPPINESS IS AN INTEREST RATE OF 5%, would return the function of deposits and loans, the cornerstone of proper banking.

We need to remember that we are trying to be good buddies with our neighbours in the EU, the very essence of which creates immense problems in pursuing the one size fits all dictats, a policy doomed to failure.



LET THE 'BIG SOCIETY' GIVE US OUR NATION BACK.