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Debate House Prices
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Pay off your debts
Comments
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Thrugelmir wrote: »So a doubling of mortgage debt in a short space of time (£600 billion). Created wealth for the whole of the UK by inflating house prices and creating equity in property for people to draw on at a later date?
Where is the money coming from to "buy" this equity?
Thrugelmir, there is more to an economy than house prices. Have you learned nothing from the credit crunch?0 -
inflation also pays off debts....or at least makes them smaller.Those who will not reason, are bigots, those who cannot, are fools, and those who dare not, are slaves. - Lord Byron0
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RenovationMan wrote: »Thrugelmir, there is more to an economy than house prices. Have you learned nothing from the credit crunch?
Yes. At a point debt can no longer just be inflated way. By creating new money.0 -
Another dimension has emerged. It seems the Tory central office spin doctors took fright that Cameron would appear to be out of touch with many people's financial difficulties."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0
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Thrugelmir wrote: »Yes. At a point debt can no longer just be inflated way. By creating new money.
Sorry Thrugelmire, but I think you're getting a bit muddled. I never mentioned house prices in my original post that you commented on and then in my second post that you quoted, I never mentioned inflating away debt. That was ninky:inflation also pays off debts....or at least makes them smaller.0 -
RenovationMan wrote: »Sorry Thrugelmire, but I think you're getting a bit muddled. I never mentioned house prices in my original post that you commented on and then in my second post that you quoted, I never mentioned inflating away debt. That was ninky:
My comment was in response to what have I learnt from the credit crunch.0 -
Turns out that Dave's heavily previewed speech has been rewritten.
Apparently, his advisers, after some reconsideration thought that a millionaire PM telling the nation to pay off their credit card debts might make him look like an out of touch t**t.0 -
Thrugelmir wrote: »My comment was in response to what have I learnt from the credit crunch.
Did you really not know that prior to the credit crunch?0 -
Turns out that Dave's heavily previewed speech has been rewritten.
Apparently, his advisers, after some reconsideration thought that a millionaire PM telling the nation to pay off their credit card debts might make him look like an out of touch t**t.
All a bit silly really isn't it.
All about votes again. Can't say what simply needs to be said for fear of losing votes.0 -
Problem is there are no votes to be won buy telling people that the solution to their debt problems was to not borrow in the first place.0
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