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3 Comments

  1. Comment by Phil House on September 23, 2007 2:15 pm

    Hell yeah!

  2. Comment by Craig Huggans on October 4, 2007 9:46 pm

    Woo hoo, sounds like this one’s gonna be a barrel of laughs. I was too young for the visit to the Henley regatta. I’m sure not gonna miss out on this one!! Get ready Cameron, we’re a coming hehe.

    ;)

  3. Comment by DrBubb on October 29, 2007 12:13 am

    + The reigning Labour government did little to discourage the influx of the wealthy, because they saw few immediate negative consequences of this trend. And also, because barriers to this wealth might have brought down property prices in London, causing negative ripples throughout the economy. The other parties, and the Conservatives in particular, remained silent about rising wealth inequality, because of their ideological support for free markets and wealth creation. The middle classes also remained silent, because “trickle-down” in the property market meant that their properties were also rising in value, and on paper, the property-owning middle classes were also getting more wealthy as property prices rose. For those willing to borrow against that wealth, Mortgage Equity Withdrawals meant more spending cash, and more money to invest in other properties.

    + Those without property, the First Time Buyers looking to enter the market, complained, but for a long time have found it difficult to find a voice. There was no political discussion and hardly any media outlets for venting their frustration of being left behind. They watched helplessly, as the wealth-generating property engine took off and lifted out of sight. Others, who were more willing to shoulder the risk took on heroic amounts of debt to participate in the rising property bubble. The natural home for those who felt dispossessed by the wealth gap was the Labour party, but that party has been co-opted by praise and political patronage from those who had benefited from Britain’s miracle economy. Of course, in hindsight, it was not a miracle at all, but a debt fueled bubble.

    SEE ARTICLE: http://www.financialsense.com/fsu/editorials/2007/0705.html


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