Archive for July 15th, 2014

House Price Inflation: Up Again

Tuesday, July 15th, 2014

This Blog has had more to say about the dangers of this cancer within our economy than  almost  any other subject. There is not a lot to add. Now running at an average of over 10% across the country, this is unsustainable and will lead to a very hard landing unless action is taken now. So far there have been tinkerings but no firm clear signal that enough is enough. The best would have been to create a Mortgage Rate running alongside Bank Rate, which could be moved up without affecting interest rates in the wider economy.

The present situation is not only fiscally suicidal, but it also sucks money out of all the key areas of economic regeneration in order to fund a binge in the financial sector. Too many modern politicians have a finger in that pie. The outcome is cuts on the one hand and excessive government borrowing on the other. The total interest bill as a first call on all income of both the government and households in the UK is now £100 billion per year. It is difficult enough to find that money now, which comes before a single nurse is paid or a single plate of food is put on the table.

Just think how hard it will be to pay when the next crash comes.

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Downing Street Blood Bath.

Tuesday, July 15th, 2014

Cabinet reshuffles cause political excitement and in the Westminster village are high drama. Elsewhere they are boring, irrelevant or pointless. Small ones made necessary because of a minor scandal or an early retirement, cause just enough of a ripple to drive the ten o’clock news. Big ones and the one now in progress is as big as they get, raise many questions, especially if they occur in the last few months of a parliament. If the person was useless in this ministry, why can we expect them to shine in that one? If the previous line up was full of duffers, why not act earlier? Is this person really retiring, or walking out because they are pissed off with the direction of travel?

Inevitably a complete government revamp in the run up to a general election has something of a Titanic air. Nowadays particularly, politicians, unlike other celebrities, are interesting only to other politicians. They are mostly unknown to ordinary people, who have no interest in them at all. Changing the Cabinet around has much less effect than it once did. This is because most distrust politicians more than any other class and voting intention is driven by mood rather than personality or policy. Fewer people now use their vote that at any time before. Moreover the mood is now anti-establishment, which makes the next election hard to call.

Waiting in the wings is one figure who is anti-establishment and populist and ready to cause a political explosion. He is Nigel Farage. Behind him lurks Boris, ready to pick up the pieces. It is the spectre of these two which drives events in Downing Street today.

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Women Bishops

Tuesday, July 15th, 2014

The Church of England has made a big advance in finally approving the notion that women can and should become Bishops. This has brought widespread rejoicing among its dwindling followers, who hope that this move into the real world may cause their numbers to expand. Meanwhile concessions have had to be made to the traditionalist  wing, which include novelties such as male oversight and an ombudsman. This blog is unconvinced by arguments put forward to placate this bigoted group of theological zealots. Whatever they call themselves or think they are, I can tell them they are not Christian. Christianity is supposed to be all about love, compassion, tolerance and equality. The idea that men are superior and only males can perform certain rituals on behalf of God is to most preposterous and to many insulting.

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