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First-time buyers shut out of the housing market as mortgages dry up | Business | The Guardian
Adrian Coles, director-general of the BSA, said: "There remain significant challenges such as heightened uncertainty about job prospects and household incomes, potentially limiting future demand

The dominant meme is that people and businesses are not spending because of 'uncertainty' which is of course the government's fault and if only they got out of the way all would be well.

The truth is that 90% of the population are in debt to the other 10% who own the country and virtually everything in it.

So it's not a matter of uncertainty - it's a matter of fucking insolvency.

"Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky

by ChrisCook (cojockathotmaildotcom) on Tue Aug 31st, 2010 at 05:03:12 PM EST
[ Parent ]
Corporations are holding onto cash because we're in a deflationary period.  it's the best investment going.  M/A continues and activity is fierce but most sellers are holding out, hoping things turn around.
by paving on Wed Sep 1st, 2010 at 02:07:51 AM EST
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