What confounded me wasa that the housing asset bubble was caused by the unwarranted expansion of m oney and credit by the Bank of England cheered on by witless Brown and all at the wrong price. So what they are proposing is not a cure for the problem (of their own making) but to further restrict our freedom. It is a disgrace.
6 comments:
completely unworkable- the only thing they might try and do is limit land-banking like in Canada...
Have they given up their powers to set reserve requirements?
Is there something maybe a tax that would tend to prevent land-Banking????
What confounded me wasa that the housing asset bubble was caused by the unwarranted expansion of m oney and credit by the Bank of England cheered on by witless Brown and all at the wrong price. So what they are proposing is not a cure for the problem (of their own making) but to further restrict our freedom. It is a disgrace.
Increases in credit are needed by states because they TEMPORARILY cover over damage caused by transfer taxation.
"but to further restrict our freedom."
More control, more lovely, lovely control!
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