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September 02, 2008


Little Richardjohn

The package of assistance for homeowners at risk of repossession has naturally raised the old question of personal responsibility and the virtue of the modest, sustainable lifestyle - often in newspapers which exist because of the advertising they sell which urges people to get in as much debt as possible. This hilarious wave of anti-consumerist moralising from the high priests of Consumerism entirely misses the point.
Whatever Alastair Darling announces, the object of the exercise is not to 'bail out' the individuals, however feckless or misled by the massed propaganda of the market, but to bail out the market itself. Limiting the damage to as many individuals as possible will allow them to become healthy consumers again as soon as possible, and prevent them from dropping out of the cycle of work and spend, thereby feeding the market again in due course. And as 'getting and spending' means 'we lay waste our powers', that means that we pay less attention to the fact that we are in a cage, and more attention to our perch, and our designer bell and mirror. Everyone who matters is a winner.
Help for mortgagees about to be made homeless is not the mythical Nanny State of right-wing fantasy, mollycoddling the individual and creating a nation of children, but a purely pragmatic way of mollycoddling a market which has feasted not wisely but too well, so that it can keep on doing so.


link spammed by rightmove,how bizarre.

on topic, can't disagree with a word you have written. desperate and weak as per usual.

Here I was thinking that this time, on the 94th re-launch, they might lurch by accident to the right answer.

Who would ever have believed Labour would COPY Norman Lamont who they derided and deride so much.

When will we hear that Dave Cameron advised Lamont at this time...etc etc.

Vinod Joseph

The stamp duty holiday won’t make much difference and most probably the government knows that. If Gordon B were to say that when prices fall, there is not much he can do, that this market correction is a good thing in the long run, it will sound as if the government is not in control, as if it does not care. The government needs to show that it cares and this goes a small way in doing that.www.winnowed.blogspot.com


>>>>Let’s be clear. The best way to help first-time buyers is simply for prices to fall. Which will probably happen anyway.

Couldn't agree more - today's announcements amount to little more that a bung to the building industry dressed up as 'positive action' to help struggling families.


So if everyone knew some economics and that a price fall is simply a well-needed and unavoidable market adjustment, the Government wouldn't have to come up with this bollocks. As usual, I feel like blaming The Sun and Daily Mail.

Roger Thornhill

I concur, Chris. And I also agree with Economonkey, it being a bung to the construction industry. Corporatism. Ghastly stuff.

Earlier "ideas" were so obviously a means to allow developers to dump unwanted tat way over valuation into the laps of the State and their pet housing associations at taxpayers' expense.

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