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Post by see2 on Mar 12, 2023 11:54:56 GMT
The rise in home ownership was encouraged by NL, it in no way caused the international financial meltdown (IFM) which threw all previous economic plans out of the window. That was caused by a totally American cock-up which not only hit without warning but was the worst economic crisis for 60 years. Part of the problem was the deregulation in the 1980s which meant that Building Societies and Banks could do both. Your claim of "total disregard to affordability" is a piece of opinionated nonsense. Everything was based upon the money flowing into the Banks, no knew that all that money in the Banks was actually worthles until the IFM struck. You keep saying the same thing time after time. Nobody said they caused the financial crisis. What people are saying, and what numerous reports into the matter concluded, is that massive personal debt and irresponsible lending DURING THE TIME LABOUR WHERE IN POWER left us vulnerable. I liked Blair, I voted for him three times, but they did fuck up on financial regulation, even Brown admitted that. Claiming Labour have no responsibility would as stupid as claiming the Tories did nothing wrong with their handling of COVID because "it started in China" lol. Vulnerable, like the rest of the Western economies, to an unforeseen international meltdown, so top using your HUGE ADVANTAGE of hindsight to attack Brown. Brown admitted AFTER THE MELTDOWN that he could / should have handled things differently, he was also speaking in hindsight LOL I have yet to hear anyone's opinion on just how the UK economy would have fared if there had been no international financial meltdown. |
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Post by Orac on Mar 12, 2023 11:58:37 GMT
A significant part of what caused the problem was that banks in the US were pressured by the government to expand the availability of loans for real estate purchases. The banks had to find a way to do this and they did so.
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Post by sheepy on Mar 12, 2023 12:40:29 GMT
You keep saying the same thing time after time. Nobody said they caused the financial crisis. What people are saying, and what numerous reports into the matter concluded, is that massive personal debt and irresponsible lending DURING THE TIME LABOUR WHERE IN POWER left us vulnerable. I liked Blair, I voted for him three times, but they did fuck up on financial regulation, even Brown admitted that. Claiming Labour have no responsibility would as stupid as claiming the Tories did nothing wrong with their handling of COVID because "it started in China" lol. Vulnerable, like the rest of the Western economies, to an unforeseen international meltdown, so top using your HUGE ADVANTAGE of hindsight to attack Brown. Brown admitted AFTER THE MELTDOWN that he could / should have handled things differently, he was also speaking in hindsight LOL I have yet to hear anyone's opinion on just how the UK economy would have fared if there had been no international financial meltdown. Well that is complete bollox, as circumstances certainly did cause the banking crisis, as the Westminster party were as usual more interested in their global bit part than anything else. |
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Post by see2 on Mar 12, 2023 14:39:49 GMT
A significant part of what caused the problem was that banks in the US were pressured by the government to expand the availability of loans for real estate purchases. The banks had to find a way to do this and they did so. Yes, a US problem. Incidentally Reported on TV, Mike Pence said that ---"history will hold Trump accountable for the Jan 6th Capitol riot"---. |
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Post by Orac on Mar 12, 2023 15:04:39 GMT
The labour government of the time increased our exposure by allowing what was obviously a gigantic and unsustainable credit / real estate bubble to grow. Incidentally Reported on TV, Mike Pence said that ---"history will hold Trump accountable for the Jan 6th Capitol riot"---. I think it would make far more sense to prosecute the small number of people who rioted |
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Post by see2 on Mar 13, 2023 19:43:28 GMT
The labour government of the time increased our exposure by allowing what was obviously a gigantic and unsustainable credit / real estate bubble to grow. Incidentally Reported on TV, Mike Pence said that ---"history will hold Trump accountable for the Jan 6th Capitol riot"---. I think it would make far more sense to prosecute the small number of people who rioted 1. Not True ^^^ The UK bubble i.e. the increase in house ownership, like NLs 'affordable homes' policy was a deliberate move in helping to resolve the housing problem. And it went along in accordance with the cash flowing through the Banks. It was sustainable, and could not have happened if the cash was not available in the Banks. It fell apart when the American Sub-Prime fiasco that hit just about every Bank across the Western economies who then found their money was worthless. But the building of affordable housing and home ownership is still with us. 2. Pence was a central figure in that riot so he is well aware of what went on. "So far, roughly 165 of the 800+ cases brought as a result of the January 6 attack have been fully adjudicated, with a total of 65 defendants receiving sentences to either jail or prison terms. Another 50 have been sentenced to home detention." Over 100 people and counting have already been sentenced to one sort of detention or another. |
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Post by Pacifico on Mar 13, 2023 22:31:04 GMT
The labour government of the time increased our exposure by allowing what was obviously a gigantic and unsustainable credit / real estate bubble to grow. I think it would make far more sense to prosecute the small number of people who rioted 1. Not True ^^^ The UK bubble i.e. the increase in house ownership, like NLs 'affordable homes' policy was a deliberate move in helping to resolve the housing problem. And it went along in accordance with the cash flowing through the Banks. It was sustainable, and could not have happened if the cash was not available in the Banks. You are going to have to whizz that past me again. How does stoking massive house price inflation whilst at the same time reducing the amount of houses built 'resolve the housing problem'? It's an interesting policy - do you think it worked? |
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Post by Toreador on Mar 14, 2023 6:16:02 GMT
1. Not True ^^^ The UK bubble i.e. the increase in house ownership, like NLs 'affordable homes' policy was a deliberate move in helping to resolve the housing problem. And it went along in accordance with the cash flowing through the Banks. It was sustainable, and could not have happened if the cash was not available in the Banks. You are going to have to whizz that past me again. How does stoking massive house price inflation whilst at the same time reducing the amount of houses built 'resolve the housing problem' It's an interesting policy - do you think it worked? One of the worst policies in my lifetime asnd leading to what's happening now in the house market, done to protect mortgage providers witha safety net. |
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Post by Orac on Mar 14, 2023 10:19:18 GMT
The labour government of the time increased our exposure by allowing what was obviously a gigantic and unsustainable credit / real estate bubble to grow. I think it would make far more sense to prosecute the small number of people who rioted 1. Not True ^^^ The UK bubble i.e. the increase in house ownership, like NLs 'affordable homes' policy was a deliberate move in helping to resolve the housing problem. And it went along in accordance with the cash flowing through the Banks. It was sustainable, and could not have happened if the cash was not available in the Banks. It fell apart when the American Sub-Prime fiasco that hit just about every Bank across the Western economies who then found their money was worthless. But the building of affordable housing and home ownership is still with us. 2. Pence was a central figure in that riot so he is well aware of what went on. "So far, roughly 165 of the 800+ cases brought as a result of the January 6 attack have been fully adjudicated, with a total of 65 defendants receiving sentences to either jail or prison terms. Another 50 have been sentenced to home detention." Over 100 people and counting have already been sentenced to one sort of detention or another. Sorry. It is true that the labour administration allowed a gigantic credit / real estate bubble to grow. I'm not sure what you are trying to say here - the massive growth of house prices forced working people to take huge risks in order to merely be properly in the economy and society. It created giant costs and risks for these people, it did not help them. Btw Brown was warned and he ignored the warnings. Many of the cases will likely need to be reviewed because of the existence of , apparently hidden, information that shows they were not guilty. |
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Post by see2 on Mar 14, 2023 13:48:22 GMT
1. Not True ^^^ The UK bubble i.e. the increase in house ownership, like NLs 'affordable homes' policy was a deliberate move in helping to resolve the housing problem. And it went along in accordance with the cash flowing through the Banks. It was sustainable, and could not have happened if the cash was not available in the Banks. You are going to have to whizz that past me again. How does stoking massive house price inflation whilst at the same time reducing the amount of houses built 'resolve the housing problem' It's an interesting policy - do you think it worked? You missed the fact that home ownership increased under New Labour and so did the building of affordable homes. __"Rates of home ownership in England peaked under the previous Labour government in 2003 at 71% before plateauing and then falling back sharply in the wake of the financial crisis, to hit a low of 62.6% in 2016/17. Since then, home ownership has recovered slowly and currently stands at 64.9%. Then there is the obvious part that you miss which is that the situation would have been different BUT FOR THE EXCESS OF CASH FLOWING THROUGH THE BANKS AND AN EXPANDING ECONOMY. |
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Post by Toreador on Mar 14, 2023 14:39:00 GMT
You are going to have to whizz that past me again. How does stoking massive house price inflation whilst at the same time reducing the amount of houses built 'resolve the housing problem' It's an interesting policy - do you think it worked? You missed the fact that home ownership increased under New Labour and so did the building of affordable homes. __"Rates of home ownership in England peaked under the previous Labour government in 2003 at 71% before plateauing and then falling back sharply in the wake of the financial crisis, to hit a low of 62.6% in 2016/17. Since then, home ownership has recovered slowly and currently stands at 64.9%. Then there is the obvious part that you miss which is that the situation would have been different BUT FOR THE EXCESS OF CASH FLOWING THROUGH THE BANKS AND AN EXPANDING ECONOMY. They're only affordable if the deposit is affordable. |
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Post by Red Rackham on Mar 14, 2023 15:01:41 GMT
God I hope you are wrong, that leaves us with no one to vote for. The country certainly doesn't want more Conservatism. 13 years and just look at the state of us. More Conservatism? ZG the conservative party have never been less Conservative. Do you think Thatcher would have allowed the illegal invasion to continue? That's the difference between centre right Conservatism and what passes for conservatism today. |
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Post by see2 on Mar 14, 2023 17:37:03 GMT
You missed the fact that home ownership increased under New Labour and so did the building of affordable homes. __"Rates of home ownership in England peaked under the previous Labour government in 2003 at 71% before plateauing and then falling back sharply in the wake of the financial crisis, to hit a low of 62.6% in 2016/17. Since then, home ownership has recovered slowly and currently stands at 64.9%. Then there is the obvious part that you miss which is that the situation would have been different BUT FOR THE EXCESS OF CASH FLOWING THROUGH THE BANKS AND AN EXPANDING ECONOMY. They're only affordable if the deposit is affordable. Affordable homes are up for purchase or rent. "Affordable housing, as defined by the National Planning Policy Framework, is housing for sale or rent for those whose needs are not met by the market. The provision of affordable housing is a key element of the Government’s plan to end the housing crisis, tackle homelessness and provide aspiring homeowners with a step onto the housing market." A deposit would itself be low because the house is deemed at an affordable level for people at the lower end of the housing market. |
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Post by Pacifico on Mar 14, 2023 17:42:20 GMT
You are going to have to whizz that past me again. How does stoking massive house price inflation whilst at the same time reducing the amount of houses built 'resolve the housing problem' It's an interesting policy - do you think it worked? You missed the fact that home ownership increased under New Labour and so did the building of affordable homes. __"Rates of home ownership in England peaked under the previous Labour government in 2003 at 71% before plateauing and then falling back sharply in the wake of the financial crisis, to hit a low of 62.6% in 2016/17. Since then, home ownership has recovered slowly and currently stands at 64.9%. Then there is the obvious part that you miss which is that the situation would have been different BUT FOR THE EXCESS OF CASH FLOWING THROUGH THE BANKS AND AN EXPANDING ECONOMY. How do you come to that conclusion - building by Councils and Housing Associations collapsed during the New Labour era. |
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Post by zanygame on Mar 14, 2023 20:45:14 GMT
God I hope you are wrong, that leaves us with no one to vote for. The country certainly doesn't want more Conservatism. 13 years and just look at the state of us. More Conservatism? ZG the conservative party have never been less Conservative. Do you think Thatcher would have allowed the illegal invasion to continue? That's the difference between centre right Conservatism and what passes for conservatism today. Illegal immigration is not the reason we are in such a shit state. Would Thatcher have allowed us to vote to leave the EU? |
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