HBOS dead on it’s feet
As predicted yesterday HBOS is dying. The housing market has done for them. Some, Telegraph readers, say that housing benefit and life on the dole is at fault. I think to blame housing benefit is puerile. It’s not housing benefit that has pushed up rents and house prices. It is the planning system that has prevented new housing from being built, buy to let landlords, estate agents and banks manipulating the market to generate higher commissions and fees, and most contentiously – immigration.
While we have a political class with a direct financial interest in property prices going up there will be corruption within the whole system. The dude who said you can’t buck the market was right. American and British governments (one and the same?) have colluded in this for votes: low interest rates and artificially high house price inflation gets votes. The whole world pays the price for a few million making a few quid. It’s the home owners who’ve bought at the top of the market and the dopes who re-mortgaged up to the hilt who will pay in the end.
The best plan for the British debtor is to stop paying. If we all cancel our direct debits for three months that will be the end of it: the Courts wouldn’t be able to cope, debt collectors would be swamped; the utilities companies and banks would go bust; the government wouldn’t be able to pay their huge wage bill and ridiculously high pensions; councils would get no council tax; insurance companies would go bust.
Now that would make life interesting. A house in the UK should cost about £20,000.00. Housing should not be a huge financial issue for families. In Europe they don’t do this and they are not suffering like we are, it’s not really a global problem it’s an American one. We are feeling the effects of the “credit crunch” not because it’s a global issue but because we live in a monarchical society, we have less democracy than Saudi Arabia and the Americans have a direct veto on all our politics. In other words we are part of America with none of the rights that American citizens have. Think about it. Tony Blair didn’t have to go to war in Iraq. The British people didn’t want him to, it was political suicide. Anyone watching him could see him visibly crumble and crumple as a result. Politically, if domestic politics was his only concern, he should not have done it. He did it anyway. He had no choice, he was told he had to. Lets face it the CIA can kill anyone. Another example of this was the government reclassifying cannabis from C to B when their own scientists said this was stupid. The Federal American Government see such moves as contrary to their national interest. Quite simply we are living in an American satellite with none of the rights of American citizens. Harold Wilson knew this and sought to gain American citizenship for us all. Look what happened to him…
Anyway I’d better not rabbit on about it too much or I’ll have a car accident. Think I’ll get the bus.