UK economic 'miracle' a sham

[snaw]

Doomed, etc.

[Spartacus]

Economists, what do they know?

"From 2001 to 2006, a total of £256bn in equity was extracted from UK property values in this way. Dependent as it is on rising house prices, housing equity withdrawl cannot continue to prop up our consumer spending at its current level," said the report.

But it can. With the population forecast to hit 75m by 2050 and with house building nowhere near that rate, house prices will continue to rise indefinitely. Well, until 2050 bar the odd blip or two anyway.

Remember, it's different this time. Best buy that BTL flat while they're still cheap.

[BrilloPad]

We all know its a sham. John Major/Norman Lamont started the rot and its been downhill ever since.

Bring back Margaret Thatcher/Lucky Lawson.

[Francko]

"Those southern Euro-zone countries facing deflating property booms may not be so lucky. Their interest rates are now set in Frankfurt, largely to meet the quite different needs of Germany"

Is it only me who can hear the words of "Deutchland über alles" on the background?

Oh, and by the way, Frankfurt, you are a second rate financial center where people, including the germans, don't want to go to live.

[Clippy]

Link sorted. Soz.

[pisces]

Link no work eh

[Clippy]

Interesting article

...the analysts said Britain was relapsing into high-tax and high-regulation sclerosis just as the rest of Europe begins to shake itself out of statist lethargy

The rest of Europe has been cutting taxes and pushing through reforms, and what has Britain done?

Britain earned top score as a place to do business in just one respect; "the ease of getting credit". It came 54th in the category of dealing with licences, a sign that the regulatory arteries are furring up.

Beggars the question, where is the best place to do business in Europe then?