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Re: WSJ:- Bank of England
[QUOTE=Mega;198829]http://online.wsj.com/article/SB1000...googlenews_wsj
Scumbags
Mike[/QUOTE
Let's go over this again, kiddies: 3 people per thousand own 2/3 the land in the UK. So the result was (and is) outrageous land costs leading to outrageous housing cost. That has meant debt financing. That has led to cheap money. That in turn has led to the housing bubble. And the housing bubble has led to more cheap money to keep everything from going bust.
And the landed gentry, the privileged class, the monarchy, the churches and their lands, the universities and their endowments keep everything "green and lovely" for tourists..... I would say that this is somewhat elitist.
I have always advocated urban sprawl. Better to have a small piece of land and a nice new house, owned without encumbrance and in clear-title, than to live cramped-up in a tiny old apartment in a junky old neighbourhood, starving and paying an outrageous rent to do so..... But then, other people in city planning don't quite view things this way, do they?
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Re: WSJ:- Bank of England
I think we getting there:-
http://ftalphaville.ft.com/blog/2011...k-debt-reveal/Comment
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