HOW CAN HOUSE PRICES BE GOING UP?
We keep reading in the press that property prices are now on the rise, but how can this be so when incomes are virtually stagnant?
During the first decade of the century, Britain suffered at the hands of a profligate Labour Government, that convinced the susceptible into a false sense of well-being, which unfortunately was funded by massive debt, both national and personal. There are those who, and the author is one, are convinced that we are still sleep-walking into further trouble due to the lack of control of credit. The current Government has embarked on a scheme to assist first time buyers with funds for initial deposits before they can acquire a mortgage. This is a kind of latter day 'Fannie Mae', and we all know how that affected the world's economy; when Clinton 'let rip' during the nineties with this vote winning largesse. The ongoing whinging regarding banks acting slowly in making loans to small businesses. We need to ask ourselves, whose money is it that banks should be taking a chance with, and have these borrowers got the potential to repay the debt? The money that is being offered does not really exist, such currency is purely a promise by the Government, which should read taxpayer GB.
Forthcoming attractions that will hole the economy below the water line will occur early next year, when up to 26 million Bulgarians and Romanians will be allowed to enter the United Kingdom. Rather like folk who borrow without concerning themselves about repayment, the newcomers will just enjoy the free healthcare and education, plus all the benefits, and naturally, the UK will be declared bankrupt.
THIS IS THE ULTIMATE HORROR STORY.
During the first decade of the century, Britain suffered at the hands of a profligate Labour Government, that convinced the susceptible into a false sense of well-being, which unfortunately was funded by massive debt, both national and personal. There are those who, and the author is one, are convinced that we are still sleep-walking into further trouble due to the lack of control of credit. The current Government has embarked on a scheme to assist first time buyers with funds for initial deposits before they can acquire a mortgage. This is a kind of latter day 'Fannie Mae', and we all know how that affected the world's economy; when Clinton 'let rip' during the nineties with this vote winning largesse. The ongoing whinging regarding banks acting slowly in making loans to small businesses. We need to ask ourselves, whose money is it that banks should be taking a chance with, and have these borrowers got the potential to repay the debt? The money that is being offered does not really exist, such currency is purely a promise by the Government, which should read taxpayer GB.
Forthcoming attractions that will hole the economy below the water line will occur early next year, when up to 26 million Bulgarians and Romanians will be allowed to enter the United Kingdom. Rather like folk who borrow without concerning themselves about repayment, the newcomers will just enjoy the free healthcare and education, plus all the benefits, and naturally, the UK will be declared bankrupt.
THIS IS THE ULTIMATE HORROR STORY.
