Quote:
Originally Posted by Sephiroth
Only in part. He got skewered by Kuenssberg when he avoided directly answering what help the Guvmin to could provide to people who faced losing their homes. She pointed out that the Guvmin did furlough and energy bills relief so what would they do for this crisis? Best that Gove could offer was their plan to get inflation down.
It seems that the increased interest rate also affects Guvmin repayments on its borrowing such that there is no money. We're broke.
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Actually, no. He said they were monitoring it and he reminded us of what the government has done previously when circumstances showed it was needed (furlough, energy support, etc) and he said it was for the Chancellor to decide if and when that was necessary.
Getting inflation down will reduce mortgages, so it was entirely relevant to say that.
Things are difficult, yes, but we ain’t broke yet.
---------- Post added at 14:24 ---------- Previous post was at 14:23 ----------
Quote:
Originally Posted by jfman
They’ll act once it looks like house prices will collapse. That’s when the whole Ponzi scheme goes so the kitchen sink will go into saving it.
Capitalism is a good idea until you run out of future generations money.
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You could say that about socialism, and it would be more relevant.