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First, housing is slowing down: a sure sign of recession.

Second, with less mortgage injection of liquidity into the economy the need for more government money is rising.

Third, rising consumer credit suggests growing consumer stress.

Fourth, this is most especially true of the exceptional growth in credit card borrowing. That looks like ends simply not meeting, and the deferral of a crisis to come.

Somehow the new money creation by credit lending isn’t a reason to slow down government money creation – but the fall in new money creation from lower mortgage lending is a reason to increase it.

11 thoughts on “Amazing”

  1. Logical consistency is so twentieth century, Tim. We live in a post modern post scientific age. Embrace the possibilities of post rationalism.

  2. “housing is slowing down: a sure sign of recession.”

    Were housing to be raging ahead, that would be a sure sign it was about to collapse, leading to a recession.

    Were housing to be going at the same pace, that would be a sure sign of recession, because neoliberal fascist.

  3. So net mortgage debt dropped to £4.1bn in April from £6.4bn – so it’s still a positive number. House purchase approvals were 66,000 against a pre-pandemic 12 month average to Feb 2020 of 66,700. Perhaps the Chubby halfwit is getting frothed up over not very much? He must be missing Polly

  4. Of course there’s a recession coming, unless it’s already here. Of course housing is going to hit the down part of the cycle, but housing has a different way of crashing. People stay in place and don’t put their houses up for sale rather than drop the asking price. Building itself may crash, there are some strains in terms of supplies and labour.

  5. Firstly, he’s a twat.
    Secondly, only the semi-numerate use firstly, secondly, etc. as bullet points. Is he (finally) on a remedial arithmetic course?

  6. Thick as two short planks, and yet he still gets on the BBC?

    He says stuff they like and in a manner they like, so he gets on.

  7. Theophrastus (2066)

    “Do I contradict myself? Very well then I contradict myself, (I am large, I contain multitudes.)”

    Walt Whitman

  8. Personally I think only twats use bullet points when they could use 1, 2, 3, 4.

    I used to enjoy people in seminars who asked “about your seventh bullet point” and then watched to see if the fucker could count to seven accurately. The answer was ‘not always’.

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