Home > Conservative, General Election 2010, Labour, Liberal Democrat, UK Politics > Just a week until this economic idiocy ends?

Just a week until this economic idiocy ends?

Will we ever learn?

House price inflation is up to 10.5%.

Great whoopedy do. Rampant house price inflation got us in to this economic mess in the first place.

Spurred on by a growing level of “equity” people borrowed more and more against their house. People felt richer, even though their salaries were not going up. So what was really happening to their pay packet did not matter. Visa and Mastercard could pick up the slack.

Then it collapsed.

And now we are supposed to celebrate the cycle starting again?

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