The ever rampant BBC blares that "Mortgage lending jumped to £11.5bn in March, a 24% rise from February...".
£11.5 billion?
At the height of the bubble from 2005 to 2007, gross monthly lending was around £30 billion (pdf) - bubbles that big need a constant flow of new money to keep them inflated, I don't think that £11.5 billion is enough.
Monday, 19 April 2010
Yeah, but compared to what?
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4 comments:
Yet it is what all the party's are fighting the election on though:
"Who can offer the quickest way to the next asset price bubble"
BBC support it too. So do all the people. That is how the majority ideology will coerce us to vote.
http://gco2e.blogspot.com/2010/04/how-will-people-vote.html
"I don't think that £11.5 billion is enough." Hopefully.
RS, the Lib Dems are streets ahead - while the other parties promise to freeze Council Tax, the Lib Dems seriously propose to replace it with a Local Income Tax, presumably only on employment income.
L, you'd think not, wouldn't you?
LD's are still asleep on it. Asleep means not awake.
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