Total and utter f***ing shits of the day (2)

Every now and than, the Scottish Mafia running England give the game away*.

The Goblin King and some other taxpayer-funded total and utter f***ing shit called Stephen Carter, have devised a new ... strategy [which] follows warnings from Labour MPs that "Southern Discomfort" at the Government's performance could lose Labour the next election. Responding to the concerns, Mr Brown appealed to the self-interest of homeowners, small businesses and the aspirant working classes. He said: "I think the important thing is that over the last 10 years people in the South have seen their living standard rise substantially. They've seen their net wealth rise even faster than their incomes."

That's the key, isn't it? Generate an asset-price bubble (and corresponding credit-bubble; they are two sides of the same coin). Or how else does anybody explain a society who sees "their net wealth rise even faster than their incomes"? When that net wealth is just a number on a bit of paper? It's the net debts that aren't just numbers on bits of paper. That's real money that somebody wants paid back. Sure, many people have seen their living standards rise substantially. Only to see them fall again when the bailiffs come a-knockin'.

They have f***ed over the 'priced-out generation', lined their own nests by paying off the mortgages on their investment properties out of their Parliamentary allowances, brought the economy to the abyss, and they are now practically admitting it was all a three-card trick.

I mean, f*** it, I profited enormously from the house-price bubble, but I got out in time, so am largely protected from the ensuing crash. No doubt the Tories (who did the 'house price bubble" back in the late 1980s) won't be any better next time round, but at least that's what we expect from the Tories.

* See also here.