What we all seem to think in common is that we have now, beyond doubt, reached the point where the current economic system is utterly unsustainable.
Rightie Ho.
The neoliberal process Thatcher and Reagan put in place, based on the thinking of Hayek and Friedman, promoted the idea that ever-increasing financial wealth mattered more than meeting people’s real needs, and this was always bound to fail. You can increase a house price as many times as you like, but you create no new wealth for society as a result. At some point, the financial claims based upon this false understanding of wealth were bound to collapse, and I think John, Guy and I all think that this moment is arriving.
Isn’t it just lovely that house prices have been falling for a few years now. Raising interest rates was all it took too. But, of course, increasing interest rates is, as the Elyian thinking goes, the wrong thing to do.
But, of course, falling real house prices are evidence of the failure of neoliberalism. Not the inevitable result of reversing QE, ho dear, no. To think that would be to misunderstand the intricacies of FatControllerThought.
There was I thinking that having increased financial wealth would go quite a long way towards meeting my needs. As far as I can see, the main problem is the State stealing my financial wealth and spending it on stuff that I don’t need and never asked for.
I think you need to change your thinking. They seem set on destroying financial wealth. Financial wealth is future goods & services. Depends on their being any..
Who exactly is ‘they’?
UK Gov for a start.
That’s hardly “exact”…
You know who it is – the WEF, UN, Bilderberg Group, George Soros and sundry other multinational organizations – even more than the unlimited support for Ukraine this is disingenuous
What we all seem to think in common is that we have now, beyond doubt, reached the point where the current economic system is utterly unsustainable.
As far as the UK’s concerned, he’s not wrong there is he?
Current economic policies, rather than system. France, Germany and Spain are not far behind the UK in depressing economic activity….So perhaps don’t be too smug about living in dago-land when the whole West is facing a mega-crisis – of cultural decadence, economic competitiveness, welfare dependence, mass immigration etc…
Theo. It’s why I am leaving Europe. That said, Spain is suppose to have the highest growth in Europe. UK can only dream of 2½%.pa. Trouble is, I don’t trust the numbers. It’s not what I’m seeing on the ground
You can run, but you can’t hide for long.
Not everywhere’s like the UK & Europe.
There’s the West (with its many problems) and the Rest, and most of the Rest has significant downsides. Good luck!
Most of the Rest has significant upsides as well. BiS is right.
Of course you don’t… Spain is recovering from a triple-whammy economically.
The “growth” is just things *slowly* coming back to how they were before WuFlu.
Which is already taking too long as it is…
You can, of course, express it as “GDP growth” or whatever, but it doesn’t change the fact that nothing *new* is happening in Spain… Just the Same-Old coming back, while having Siestas along the way.
I have a particular window into the contents of the back pocket of the working Spanish male. And that’s showing me mostly empty.
Good
He will have fallen out with John and Guy by next weekend
General proposition: anyone banging on about neo-liberalism, Fatcher, or Raygun is a fool or a knave. That’s an inclusive “or”.
Is that the Raygun B-Girl that hops like a demented kangeroo?
What is hilarious is that the man was in his 20’s when Thatcher took office. He was old enough to have seen the UK prior and to speak to people who lived their lives like that.
Indeed, and it appears Professor Spud The Spaz would be happy for the UK to return to being the basket case it was before St. Margaret of Grantham became Prime Minister.
You’re another victim of the Thatcher bewitching ….
The reality is that pre-Thatcher we lived in a land of milk and honey where peace and tranquility reigned. We were so lucky to the government and unions working hand in glove to provide first-class public services and we also had truly world-beating infrastructure.
The public telephone network was well funded and anyone who wanted one could have a phone in their house and enjoy cheap calls. The trains ran on time and were clean and comfortable and the NHS was truly the envy of the world.
Then along came this evil witch who cast a spell on the country, aided and abetted by the right-wing media, and convinced everyone the complete opposite was the case.
Only the likes of Spud and Andeh know the true story and they will lead us triumphantly back to those days and deliver us from the evils of neoliberalism.
Nah fam, I watched ‘Are You Being Served?’;)
So that’s what ‘remember with advantage’ means.
Or rose tinted spectacles?
The second thing that is hilarious is that he thinks the current UK economy is ‘neoliberal’ when basically every government after Thatcher rejected that for ever increasing socialism.
Man does not live on this planet.
So what would he sell his house for? Would it be less than the “neoliberall” market price that he claims isn’t real?
House prices falling, not the time to be looking for equity release. On a thread a few days ago I suspected he was short of cash.
He could always get a proper job.
Hmm… probably not.
The situation is desperate by all
Accounts – hence the Ely event and various other boondoggles
Commie dick Murphy’s statements are too bizarre to comment on.
He doesn’t understand that even though the increase in value of my house has ‘created no new value’ *other people have created new value* and are willing to bid more on my house.
That my house has created no new value is . . . irrelevant.
Oh, and of course, he ignores that the government’s deliberate policy of inflation PLUS the government’s incompetent policies increasing inflation even further along with policies that restrict the supply of housing, are the driver’s of my home’s increase in value.
He ignores all that and instead wants to punish *me* for *their* incompetence.
“You can increase government money supply as many times as you like, but you create no new wealth for society as a result.”
Is something he will never agree to.
I have to wonder how much of his animus towards higher interest rates is party conformity, and how much is due to still having a mortgage at his age.
For completely unrelated reasons of course.