tag:blogger.com,1999:blog-1141932539860553199.post5990973642236623339..comments2024-03-05T10:52:24.691+00:00Comments on Mark Wadsworth: We own land! Give us money!Mark Wadsworthhttp://www.blogger.com/profile/07733511175178098449noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-1141932539860553199.post-32564309569100427852010-11-25T13:05:59.605+00:002010-11-25T13:05:59.605+00:00B, I don't do 'politics of envy', who ...<i>B, I don't do 'politics of envy', who exactly do you think is envying whom in this instance?</i><br /><br />Never said you did. The "everyone on the dole is a scrounger" types would be envying those who had savings but were still in receipt of benefits, even if it made social and economic sense. It is my experience that nothing upsets an Englishman more than to think that he is getting a worse deal than the next man, especially in areas where everything "should" be fair, like public handouts.Bayardhttps://www.blogger.com/profile/15211150959757982948noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-35017076132969575102010-11-24T19:46:18.575+00:002010-11-24T19:46:18.575+00:00The Mortgage lenders and property developers would...The Mortgage lenders and property developers would like the taxpayer to underwrite the inflated prices which have occurred because of inflationary expectations and the unique tax exemption of profit on the sale of homes.<br /><br />Home owners once used to pay income tax on the notional rental value of the house they occupied. This was before home ownership became such a sacred cow, It would certainly restrain people from trading up to ever larger homes "because you can't lose". Of course, it went together with very low expectation of inflation so there wasn't the understandable urge of the last forty years to get out of funny money and pile into bricks and mortar.Edward Spaltonhttps://www.blogger.com/profile/04168350315689612490noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-41155270206277170172010-11-24T16:02:41.600+00:002010-11-24T16:02:41.600+00:00subsubAntiCitizenOnehttps://www.blogger.com/profile/00017073518049848696noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-16897591100380931912010-11-24T16:02:27.213+00:002010-11-24T16:02:27.213+00:00> Which 'industry' was largely responsi...> Which 'industry' was largely responsible for the house price/credit bubble and the subsequent recession?<br /><br />Nope. The state. Only they control the volume of credit.AntiCitizenOnehttps://www.blogger.com/profile/00017073518049848696noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-57351574594549786042010-11-24T12:40:35.615+00:002010-11-24T12:40:35.615+00:00FT, good list, that saved Lola the bother!
B, I ...FT, good list, that saved Lola the bother! <br /><br />B, I don't do 'politics of envy', who exactly do you think is envying whom in this instance?Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-65193895817224843092010-11-24T11:48:44.822+00:002010-11-24T11:48:44.822+00:00Former Tory. All 'me too'. Sigh.Former Tory. All 'me too'. Sigh.Lolahttps://www.blogger.com/profile/04586735342675041312noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-17081933409331614632010-11-24T11:34:15.322+00:002010-11-24T11:34:15.322+00:006) In other words, not only do the reckless get pr...<i>6) In other words, not only do the reckless get priority over the prudent (see point 5)</i><br /><br />Pure politics of envy. The inevitable result of means testing. A modern version of Aesop's fable, would have the grasshopper safely installed in a taxpayer-funded house, being fed by the state, while the poor squirrel ekes out his hoard of nuts.Bayardhttps://www.blogger.com/profile/15211150959757982948noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-52820978836808818392010-11-24T11:11:58.607+00:002010-11-24T11:11:58.607+00:00re (3), I suspect a number of things. Like MEW to ...re (3), I suspect a number of things. Like MEW to buy that achingly fashionable cottage in France which looked so good amongst one's little social circle, but is now unsaleable. Like MEW to buy a house for the kid an Uni because "renting is just throwing money away" and hell, it impresses the social circle just no end (oh, and the house is now unsaleable because it's full of shitty scruffy students). Like not thinking about restricted income in retirement. Like bank staff on targets to lend and bullied by the management to achieve them. Like the FSA achieving exactly the opposite of what was needed and ensuring that fewer people than ever get proper advice and risk assessment about their borrowing intentions. Like having run up huge credit card debt with the help and connivance of the bank staff on targets and then retiring and being unable to afford the repayments and so transferring it to mortgage (with the help and connivance etc etc). Like taking a Tracker mortgage at >4% + BoEBR without stopping to consider that if BoEBR only goes bak to where it was 2 years ago, they'll be paying over 10% p.a. Like believing that interest only mortgages represent salvation because they're "cheaper".<br /><br />Mark, the list of peoples' stupidities is endless; I'll spare you, but I could go on because I've seen 'em all over the last few years.<br /><br />Most of all, if I tell someone who wants to do this not to (which I have with varying degrees of forcefulness, and with careful explanation, the next thing I know is that they've been to the Bank instead "who were much more helpful". Yeah, right.<br /><br />Re (4), they had the equity in their house. Most of these pensioners who have mortgage borrowings "only" owe a small portion of the value of the house, but it's still a large amount when interest rates rise.<br /><br />Bollocks to them. They burned it all with their own stupidity and I resent bailing them out; and then bailing them out again when they can't even have their house secured to pay their care bills.<br /><br />Oh, did I mention that I get very angry over all this :-)formertorynoreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-75677853739304236522010-11-24T10:59:48.236+00:002010-11-24T10:59:48.236+00:00D, fair enough, I have amended.D, fair enough, I have amended.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-47052255778683269552010-11-24T10:58:26.772+00:002010-11-24T10:58:26.772+00:00"And who did the reckless lending and piled a..."And who did the reckless lending and piled all this debt on people? The banks." Bollocks. The correction is:<br /><br />And who (i) did the reckless lending and (ii) piled all this debt on people? (i) The banks, and (ii) the people.deariemenoreply@blogger.com